The 2024 Mustang is available as a fastback or as convertible, with one of four engines. The base engine is an EcoBoost 2.3L turbocharged 4-cylinder with 315 horsepower. More powerful Mustang GT variants are powered by a 5.0L V8 with 480, 486 or 500 horsepower depending on the trim. In other words, the Mustang is fast in all of its forms. All vehicles can be mated to either a standard 6-speed manual or a 10-speed automatic transmission. Adjustable driving modes such as Normal, Snow/Wet, Sport and Track allow drivers to custom-tune the responsiveness of the Mustang to the task at hand. Fuel economy on the EcoBoost is rated at 20 mpg in the city and 28 mpg on the highway, while the 5.0 V8 returns 15 mpg and 23 mpg, respectively.

There are several trim levels for the fastback: EcoBoost, EcoBoost Premium, GT, GT Premium, and Dark Horse. The convertibles simplify things by only offering EcoBoost, EcoBoost Premium and GT Premium trims.

The EcoBoost Mustang's standard equipment includes 17-inch wheels, a 6-way manual adjustable driver's seat, 50/50 split-folding rear seat, a 13.2-inch touchscreen, a 6-speaker sound system, the SYNC 3 infotainment system, and an "intelligent" key. The Ecoboost handling package adds MagneRide suspension, an upgraded Limited slip differential, stiffer spring rates, a thicker rear sway bar, and 265mm Pirelli P Zero tires.

The EcoBoost Premium trim adds dual-zone automatic climate control, heated mirrors, additional exterior lighting, heated and cooled leatherette front seats with 10-way power-adjustability for the driver, and a 9-speaker stereo with SiriusXM satellite radio compatibility.

The GT trims feature a rear spoiler, active grille shutters, 18-inch wheels, while the GT Premium adds heated and cooled front seats, leather upholstery, sport pedals, ambient lighting, dual-zone climate control, a garage door transmitter, 4 USB ports, satellite radio, and a 9-speaker sound system.

The Dark Horse trim is at the top of the lineup with voice activated navigation, a 12-speaker sound system, 19-inch wheels, an auto-dimming rear view mirror, a heavy duty radiator, a larger axle ratio, a multi-mode exhaust, adaptive sport suspension, heavy duty springs, 4-wheel vented disc brakes with painted calipers, a heated sport leather wrapped steering wheel and black exterior accents.

Safety features include rear parking sensors, active lane departure, blind spot warning, forward and rear collision mitigation, pedestrian detection, and a driver attention alert while the Dark Horse trim adds a traffic sign recognition system, and evasion assist.