The 2023 Ford Mustang remains a desirable coupe or convertible and a powerful symbol of American 4-wheeled culture. Pricing starts at $27,770. Ford only makes one car, this one. Which says a lot about the enduring appeal of the Mustang even in an automotive world dominated by SUVs and trucks. There’s still demand for evocative coupes and convertibles, especially with V8 engines. We’re approaching the end of the Mustang’s sixth generation, but we’ve already seen the seventh. The all-electric Mustang Mach-E is not the same thing as the Mustang and has its own review.
2023 Ford Mustang Pricing
The 2023 Ford Mustang has a starting sticker price of $29,145, with the range-topping Mustang Mach 1 kicking off at $57,945. But Kelley Blue Book Fair Purchase Pricing currently suggests paying $1,644 to $3,755 less than MSRP, depending on trim and equipment. These prices are updated weekly.
MSRP | KBB Fair Purchase Price (nat'l average) | |||
|---|---|---|---|---|
EcoBoost | $29,145 | $27,501 | ||
EcoBoost Premium | $34,170 | $32,071 | ||
GT | $39,720 | $37,519 | ||
GT Premium | $44,740 | $41,787 | ||
Mach 1 | $57,945 | $54,190 |
Driving the 2023 Ford Mustang
Although it’s a particularly American thing to have a Mustang with a V8, we still have a lot of affection for the turbocharged 4-cylinder engine in the lower trims. It means less weight in the nose for one thing. Which is a positive, since the Mustang feels quite heavy, and a lighter front end means the steering is nice and responsive. It’s certainly not as chuckable as something as small and light as a Mazda MX-5 Miata, of course, but it’s still enjoyable, even more so with the High Performance Pack (HPP) boosting horsepower from 310 to 332. There’s a perceptible difference — more liveliness. Even the base Mustang handles really well, though. We’ve all encountered those Mustang GT drivers who put their car into Sport driving mode and then go barking up the freeway. Maybe we should savor those unmistakable V8 sounds before everything goes electric. The Mach 1 is especially savory, with 470 horsepower boiling away under the hood. It also comes standard with an adaptive suspension that adjusts automatically and quickly to whatever demands the conditions of the moment are making.
Aging Interior
As far as the front seats are concerned, the 2023 Mustang is comfortable and accommodating for a wide range of body types. We would take one on a road trip any time. It’s not for groups of people, though. The two little seats at the back are slightly better than those of the Chevy Camaro and might work for kids. But even they won’t want to be there for long. Potential buyers will be pleased to know that their new Mustang has blind-spot monitoring as standard, because rear-three-quarter vision is obstructed by the coupe’s wide rear pillars or when the convertible’s roof is up. Unsurprisingly, the 2023 Mustang’s interior design is showing its age, despite being quite easy to live with. The plastics are looking cheap these days, and the base infotainment screen is small. The coupe’s trunk measures 13.5 cubic feet, easily enough for a couple of golf bags. The rear seats also split and fold for a little extra cargo area. The convertible has an 11.4-cubic foot trunk. Again, golfing for two is doable.
Our Favorite Features and Tech
High Performance Pack 10-speed automatic transmission SYNC 3 V8 engine B&O audio Hood stripes
Admittedly, it costs an extra $6,150, but this more powerful engine is also accompanied by a limited-slip differential, uprated suspension, stronger brakes, and plenty of other extras,
Although enthusiasts will love the standard manual transmission, the automatic option is an excellent unit that does a great job of keeping the engine in its sweet spot.
This is an upgraded infotainment system that comes in Premium versions of the EcoBoost and GT models. An 8-inch touchscreen, navigation, and Apple CarPlay/Android Auto phone integration are included.
A special mix of muscle and music goes into a gasoline-fed V8 engine. The GT and Mach 1 variants each have a 5.0-liter unit. It’s a classic.
This system is one of Bang & Olufsen’s more cost-conscious offerings, but still sounds great. It’s a 12-speaker setup available only as an option in the range-topping Mach 1 Premium version.
It might be because we used to play with toy versions, but there’s something about a Mustang with stripes. In fact, a Mustang without them might even be seen as incomplete.
Engine & Transmission
A turbocharged 2.3-liter 4-cylinder engine is the inspiration behind the EcoBoost name of the most affordable 2023 Mustang variants. It makes 310 horsepower or 332 horses with the High Performance Pack. Either way, maximum torque is 350 lb-ft. GT models employ a 5.0-liter V8 with a meaty 450 horsepower and 410 lb-ft of torque. This same engine in the Mach 1 is boosted to 470 horsepower, same torque. All versions have rear-wheel drive and a 6-speed manual transmission as standard. A 10-speed automatic is optional. Regular gasoline works just fine. 2.3-liter turbocharged 4-cylinder engine 5.0-liter V8 (GT) 5.0-liter V8 (Mach 1) More Mustang fuel economy information is available on the EPA’s website. Ford’s new-car warranty lasts for three years or 36,000 miles, whichever happens first. Plus a powertrain warranty of five years or 60,000 miles. This is all fairly typical.
310 horsepower @ 5,500 rpm
332 horsepower @ 6,000 rpm (High Performance Package)
350 lb-ft of torque @ 3,000 rpm
EPA city/highway fuel economy (2022): 21/29 mpg (manual), 21/32 mpg (automatic), 20/27 mpg (manual convertible), 20/28 mpg (auto convertible), 20/27 mpg (manual/auto coupe w/High Performance Package), 19/25 mpg (manual, convertible w/HPP), 19/26 mpg (automatic, convertible w/HPP)
450 horsepower @ 7,000 rpm
410 lb-ft of torque @ 4,600 rpm
EPA city/highway fuel economy (2022): 15/24 mpg (manual/auto coupe), 15/23 mpg (auto convertible)
470 horsepower @ 7,250 rpm
410 lb-ft of torque @ 4,800 rpm
EPA city/highway fuel economy (2022): 14/22 mpg (manual), 15/23 mpg (auto)3-year/36,000-Mile Warranty
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Our Expert Ratings come from hours of both driving and number crunching to make sure that you choose the best car for you. We comprehensively experience and analyze every new SUV, car, truck, or minivan for sale in the U.S. and compare it to its competitors. When all that dust settles, we have our ratings. We require new ratings every time an all-new vehicle or a new generation of an existing vehicle comes out. Additionally, we reassess those ratings when a new-generation vehicle receives a mid-cycle refresh — basically, sprucing up a car in the middle of its product cycle (typically, around the 2-3 years mark) with a minor facelift, often with updates to features and technology. Rather than pulling random numbers out of the air or off some meaningless checklist, KBB’s editors rank a vehicle to where it belongs in its class. Before any car earns its KBB rating, it must prove itself to be better (or worse) than the other cars it’s competing against as it tries to get you to spend your money buying or leasing. Our editors drive and live with a given vehicle. We ask all the right questions about the interior, the exterior, the engine and powertrain, the ride and handling, the features, the comfort, and of course, about the price. Does it serve the purpose for which it was built? (Whether that purpose is commuting efficiently to and from work in the city, keeping your family safe, making you feel like you’ve made it to the top — or that you’re on your way — or making you feel like you’ve finally found just the right partner for your lifestyle.) We take each vehicle we test through the mundane — parking, lane-changing, backing up, cargo space and loading — as well as the essential — acceleration, braking, handling, interior quiet and comfort, build quality, materials quality, reliability.
