2023 Mustang GT500

You better act quickly because the GT500 won't be around much longer.

Last week was a significant one for the Blue Oval as it unveiled the all-new, seventh-generation Ford Mustang. There is much to pore over here, such as the hardcore Dark Horse variant and many cool new features like the remote rev function. The fact that the Coyote V8 lives on in its most powerful form ever is another reason to celebrate.

But none of this means that the sixth-generation Mustang has suddenly become irrelevant, not least of all because the 'old' Mustang will still be on sale for another year. Some will prefer the S550's looks and its more analog interior, and for those who want one before the S650 arrives, there is some new information to take note of - but not all of it is good.

2023 Mustang GT500
Ford

We now know that the S550 model will continue to be produced for the 2023 model year, but not for a full calendar year as S650 production is due to begin in the summer of 2023.

"Demand [for the S550] is there," said brand manager Jim Owens when speaking to Muscle Cars & Trucks a few days ago. "Supply is not, and we're working towards it. We were down nine weeks this year, thirteen weeks last year," he said when referring to production of the S550 at the Flat Rock Assembly plant in Detroit.

2023 Mustang GT500
Ford

While the 2023 Mustang will extend the life of the sixth-gen model for a while longer, this doesn't apply to the entire lineup. The big news here is that the current Mustang Shelby GT500 won't continue into the 2023 model year.

The Shelby GT500 is the king of the S550 lineup with its 5.2-liter supercharged V8 making a monstrous 760 horsepower. Together with a dual-clutch automatic transmission, it can accelerate from 0-60 mph in below 3.5 seconds. It's not confirmed if the S650 will come with a replacement for the GT500, and this news means that there will be a gap at the very top of the Mustang lineup for at least a year or so, leaving Ford without a direct rival to the Chevrolet Camaro ZL1. It also means that the new Mustang Dark Horse with its 500-hp V8 will be the most powerful seventh-generation derivative for the time being.

2023 Mustang GT500
Ford

Fans who want one of the quicker S550 models and who might miss out on the GT500 will be happy to know that the Mustang Mach 1 will still be around for 2023. Its 470-hp V8 isn't far off the output of the newer Dark Horse.

As the S550 nears retirement, it will be remembered as the first Mustang to be marketed and sold globally. Its independent rear suspension did wonders for the handling of the car, making it much more than just a dragster, and the 2.3-liter four-cylinder EcoBoost engine saw the Mustang join the downsizing trend without making the car a dud to drive. The S550 was one of the most complete Mustangs yet, and the S650 has big shoes to fill when it arrives.

For those craving the Shelby model, however, your time is limited, so we'd suggest tracking one down ASAP.

2023 Mustang GT500
Ford

2023 Mustang GT500

Image copyright Manoli Katakis, Muscle Cars & Trucks.

As Ford Motor Company officially pulled the sheet of the S650 Mustang yesterday in Hart Plaza, Detroit, fittingly just adjacent to the GM Renaissance Center, it was made official that production is targeted for the Summer of 2023 as a 2024 model year vehicle. With less than a year to wait, it has Mustang enthusiasts wondering if Ford would even bother with a 2023 Mustang, which would be the final model year for the S550 generation. As it turns out, that’s a definite “yes,” but not without a few caveats. Primarily, it involves the current Mustang Shelby GT500.

2023 Ford Mustang: Details On The Last S550 Model Year

MC&T was able to chat with brand manager Jim Owens during a private S650 Ford Mustang backgrounder event last week, who confirmed that the 2023 Ford Mustang would experience a shortened model year. The exact timetable was not disclosed, but Owens noted that it wouldn’t be a full calendar year. Ford is still working on building the 2022 model year Mustang.

“Demand (for S550 Mustang) is there,” said Owens. “Supply is not, and we’re working towards it. We were down nine weeks this year, thirteen weeks last year” at the Flat Rock Assembly plant, where the Ford Mustang production exclusively takes place.

2023 Mustang GT500
Image via Ford Performance.

Additionally, if you’ve been wanting a Ford Mustang Shelby GT500, now’s the time to buy, as we also learned that there won’t be one for the 2023 model year. This effectively means the GT500 is done after the 2022 model year, until if/when Ford debuts one for the S650 generation. Lastly, we also learned that the Brittany Blue heritage color has also been dropped, as well as the Mustang EcoBoost Coastal Edition. Ford will continue to build the Mustang Mach 1 for the 2023 model year, but will continue to hold off on building the Handling Package during the winter months, due to the warmer weather conditions needed for the Michelin performance tires.

Owens said that the S550 Ford Mustang GT500 Heritage Edition was also “slightly more volume” than what the Shelby GT350 Heritage Edition was, with more customers opting for the $10,000 hand-painted stripes than expected.

2023 Mustang GT500
Image copyright Manoli Katakis, Muscle Cars & Trucks.

2024 Ford Mustang Details

The all-new 2024 Ford Mustang will be available with an upgraded 5.0-liter Coyote V8 engine set to deliver the most naturally aspirated horsepower of any Mustang GT, thanks to the help of a dual air intake box and dual-throttle body design. In addition, the 2024 Mustang GT will be standard with a six-speed Tremec manual transmission. However, for an easier experience, a 10-speed automatic transmission is available.

For customers who wish to own an S650 Ford Mustang but care about fuel efficiency, there is an EcoBoost model powered by a four-cylinder turbocharged 2.3-liter engine. Unfortunately, though, it’s only available with an automatic transmission. Additionally, six available drive modes enable customers to adjust steering effort, engine response, and transmission and electronic stability quickly. The modes include Normal, Sport, Slippery, Drag, and Track, plus a customizable setting with up to six individual profiles. Finally, for even greater performance, the 2024 Mustang GT and EcoBoost have an optional Performance Pack, which adds a host of track-focused features.

2023 Mustang GT500
Image via Ford.

Zac's love for cars started at a young age, after seeing the popular Eleanor from Gone In 60 Seconds. From there, fascination and enthusiasm blossomed and to this day the Ford Mustang remains a favorite. His first job started out detailing cars, but also provided the opportunity to work on restoration including an 1968 Ford Mustang, Ford Firebird, and a C3 Corvette, though he left that job before further work and experience could be had. From there, he was a detailer at a car dealership before quitting that job to try and finish college.

Much of his free time while studying was spent watching YouTube videos regarding new cars, or off-roading. 4WD247 is a personal favorite channel which rekindled a dying flame in car enthusiasm, now tailored towards trucks and SUVs and the fun that can be had building up an overlanding rig, and going on adventures, though, that chapter remains unwritten for the time being.

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Is Ford making a 2023 GT500?

There are a couple of catches, though: Ford will cut the 2023 model year short to make way for the seventh-gen 'Stang, and the Shelby GT500 will be discontinued for 2023. Ford spokesman Mike Levine confirmed the lineup changes to Motor Authority. The Mach 1 will be the range-topping Mustang model for 2023.

Will there be a 2024 Shelby GT500?

Ford Authority claims the new GT500 will launch in the US in 2025 for Model Year 2026 – following the regular Mustang, which goes on sale in the US in mid 2023 for Model Year 2024, with Australian deliveries to follow later next year.

Is the GT500 going to be discontinued in 2023?

Ford has also discontinued the Shelby GT500, leaving the Mach 1 as the most performance-oriented 'Stang for 2023 with its 470-hp Coyote V8. There's a good reason for the Ford Motor Company axing the GT500, and that reason is the F-150 Raptor R.

Will the Shelby GT500 be discontinued?

Ford has confirmed that 2022 will be the final model year for the Shelby GT500, powered by the Predator supercharged 5.2-liter V-8 with a monstrous 760 horsepower and 625 pound-feet of torque.