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Nothing says modern American sporty car better than this new Mustang. Its long hood and short rear deck capitalize on 40 years of Mustang history. The new model features classic design cues that have defined Mustangs since the 1960s: C-scoops in the sides, three-element taillamps, and a galloping horse badge in the center of the grille. Its menacing shark-like nose is reminiscent of the 1967 model.

The new Ford Mustang is based on a modified version of the platform that underpins the Lincoln LS, the Jaguar S-Type, and the Ford Thunderbird, but with a new three-link live-axle rear suspension installed in place of the IRS under the luxury cars in order to keep the price down (the original idea was to offer the IRS as standard equipment, but it will likely be on the Cobra version when it comes). Ford reasons that more Mustang fans will favor the solid-axle rear suspension for their recreational track days and drag racing.

Everything under the car has been upgraded substantially from previous Mustang levels: bigger brakes by nearly 20 percent, completely new front and rear suspension designs that yield a much quieter, smoother ride as well as much more precise steering and harder cornering, two new engines, two new transmissions, and a large-diameter (2.5 inches from end to end) performance exhaust system. There's nothing left of the old Mustang but the logos. Optional anti-lock brakes bundled with traction control give any driver much more of a fighting chance in bad situations.

Both new engines are mounted to their bodies with hydraulic engine mounts, which absorb and counteract vibration and pulsing, and the combination of the engine and transmission bolted together, is stiffer than previous designs, which should also add to quietness. The car absolutely bristles with other new technologies.

The Mustang heritage of low-cost performance and flashy styling has not been compromised one iota by putting the new car on the platform that Ford used to call the CDW. By adapting lots of ideas and components from luxury cars like the Jaguar S-Type, Lincoln LS, and Thunderbird that were previously built on the CDW model, they have given the Mustang a whole new level of sophistication that no model before it ever had. We know, because we've driven every generation since the original debuted in the spring of 1964.

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The interior of the new Ford Mustang is sporty, crisp, and beautifully done. There's a very heavy dose of 1967 Mustang interior design, with two distinct right and left pods. Because of the longer wheelbase and larger overall size, there is a lot more hip, leg, elbow, and shoulder room inside this Mustang that in any previous generation.

In addition to the slick new interior decor, the new Mustang has the industry's first color-changeable instrument panel display, with 125 color schemes to choose from. It's easy to use, it's spectacular, and it works beautifully to brighten up your day, and especially your night, as you drive. And, speaking of brightening, there is more shiny metal on the interior, including the vent rings, steering wheel spokes and other bits, and on sunny days, that can cause some vision and glare problems for the driver.

We found the front bucket seats to be comfortable, supportive, and retentive in hard corners, and in general, the interior looks like it belongs in a much more expensive car. There is an interior upgrade package that adds red leather seats, red door inserts, and red floor mats on cars with appropriate exterior colors. Another package adds real aluminum trim to the interior for one more customization step.

The basic sound system that comes with the car is pretty darn good, but in this day and age of pervasive music, there has to be more, more wattage, more speakers, more power. To back that up, Ford offers not one but two optional AM/FM/CD changer systems, one with 500 watts, and one with, are you ready? 1000 watts of power, both systems with subwoofers in the doors, and the 1,000-watter with two more subwoofers in the trunk.