Ford’s sixth-gen Mustang is wider, faster and meaner-looking; it’s also designed to woo drivers around the globe.
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That's the theory, anyway. For the past couple of years, Ford has poured money into a record number of new models, and it's beginning to see the needle move. The Focus is the top-selling car in the world, says Mulally. Ford's worldwide auto sales this year will increase 10.9%, to $140 billion, according to Jefferies equity research, even with the European market still sluggish. Where Ford has lagged historically is in pricing relative to Toyota. One of the Mustang's jobs is to help close that gap. "Everybody wants to have a halo vehicle to try to drive more volume," says Mike Wall, director of automotive analysis at IHS Automotive. "Will Mustang be this global vehicle? I think that's a tough ask."
In the U.S., the purpose of the exercise is to sell cars, and Ford certainly expects a significant sales bump from the new model. Its current pricing ranges from $22,000 for the entry-level V-6 to about $60,000 for the Shelby GT. That puts it up against everything from a souped-up Mini to Chevy's Camaro and its newest Corvette. Chrysler, now owned by Fiat, has every intention of landing sporty models like the Alfa Romeo Spider in the U.S. to complement its own Challenger sports car. Competition is global too.
The power of a brand as iconic as the Mustang is that customers are predisposed to like the product. You almost have to give them a reason not to. "We don't want to be known as the team that screwed it up," says Fields. That iconic status also let the company take the risk of overhauling its redesign midstream. You can bet that the aging boomers in Florida with their vintage late-'60s models will love the new version. What the Mustang really needs is a new generation of drivers in new places.