Ford Mustang pricing revealed

The Ford Mustang will have hot hatches in its sights when it arrives in Australia later this year thanks to a starting price under $45,000.The blue oval has revealed the full price list for the new coupe ahead of it hitting showrooms in December. And the headline number is $44,990 (plus on-road costs) the starting price for the 2.3-litre EcoBoost Fastback, with the automatic variant costing an additional $2500.

That price undercuts many hot hatches such as the Volkswagen Golf GTI Performance, Subaru WRX STI and Renault Megane RS265, putting the Mustang in the middle of the hot hatch market.

The V8-powered Mustang GT is also keenly priced at $54,990 for the manual and $56,490 for the six-speed automatic.

While the GT is more expensive than Ford's XR8 - which starts at $52,490 - it is still competitively priced against other six-cylinder, two-door sports coupes such as the Lexus RC350 (from $66,000), Nissan 370Z (from $56,930) and BMW M235i (from $79,930). It is also comfortably underneath V8-powered coupes such as the Lexus RC F which is priced from $133,500.

Ford already has 1200 firm orders for the Mustang and has also received interest from more than 15,000 potential customers and believes that more customers will flock to the new sports car after the announcement of its competitive pricing.

"With such sharp pricing, we're signaling that there's a new Ford performance car coming and we intend to grab our rightful share of enthusiasts who value style, technology, performance and the history that the Mustang name brings," says Graeme Whickman, Vice President Marketing, Sales and Service.

Both variants come with the option of either a six-speed manual or six-speed automatic transmission, electric power steering,  19-inch alloys, LED taillights, rain sensing wipers, sat-nav, reversing camera as well as Ford's new SYNC2 infotainment system which is accessible through an eight-inch monitor on the dash .