What do hen’s teeth, rocking horse manure and manual, rear-drive V8s have in common? All are exceedingly rare. The new Ford S650 Mustang, the seventh-generation of the iconic Blue Oval muscle car, is now the only car available in Australia with the holy trinity of three pedals, skid-wheel drive and a proper exhaust note.

The bad news is the entry price has increased significantly compared to the previous generation. You’ll now need $64,990 plus on-road costs to get behind the wheel of an S650 Mustang and that will only buy you four cylinders and an automatic gearbox, the manual four-pot having been discontinued globally.

That’s a fair chunk more than the $55,590 (+ORCs) that was required for the previous-generation 2.3 High Performance manual and the V8 has risen by a similar amount. The GT manual starts at $77,002 (+ORCs) with the automatic an extra $3900 and having the soft top will set you back $86,752 (+ORCs), though all these prices will rise slightly with the shift to MY25.

Sitting atop the range is the new Dark Horse which is well into six figures at $99,102 as a manual or $103,002 as an auto (both +ORCs), but only 1000 are coming to Australia and according to Ford, they all have names next to them.

Thankfully, standard spec has also increased, with even the Ecoboost coming with the Performance Pack as standard, which includes bigger Brembo brakes (390mm discs with six-piston calipers front; 355mm discs and four-piston calipers rear), a shorter 3.55:1 diff, front strut brace and four-mode active exhaust. It also scores all the track features like an acceleration and lap timer, line lock function and the new drift handbrake.

It remains a 2.3-litre turbocharged four-cylinder but the engine is supposedly all-new. Power has actually decreased slightly to 232kW at 5500rpm but torque is up around 10 per cent to 475Nm at 3000rpm.

The V8 now scores dual air intakes and throttle bodies but outputs have barely budged, the S550’s 339kW/556Nm now 345kW/550Nm, though the power peak is slightly higher at 7250rpm. GTs also score wider 275mm rear rubber (255mm fronts), an engine oil cooler and the option of MagneRide adaptive suspension.

Dark Horses feature an extra 5kW, standard MagneRide, a unique suspension and steering tune and half-inch wider wheels front and rear (19 x 9.5-inch front; 19 x 10.0-inch rear), but the big change is the close-ratio Tremec six-speed manual with a 3.73:1 diff for much better acceleration.

Tech has also taken a big step forward, with a pair of giant screens handling infotainment and instrument duties. The former includes wireless Apple CarPlay and Android Auto as well as wireless charging, the latter can change the display not just for different drive modes, but to imitate the clusters of the classic Mustang, 1980s Fox Body and the SVT Cobra R. Sounds gimmicky, actually very cool.

The new Ford Mustang might not be a huge leap forward mechanically, but thank god one manufacturer is still keeping the modern muscle car alive. Now, anyone got a contact for some rocking horse manure?

VERDICT

Street Machine got a gig to the S650 Mustang launch in Adelaide, driving the Ecoboost and GT on road and the GT and Dark Horse on track. As the mechanical specification suggests, it’s not night and day different to the S550 – think of it more as a substantial update.

While Ford is asking more for the experience, this is a more accomplished and polished car than its predecessor. The interior is of higher quality, the steering is more accurate and the handling is more consistent. Great brakes, too.

The Ecoboost is fast and fun, though the lack of a manual is a shame (no one bought it), but the V8 feels and sounds fitter than ever. There’s an added slickness to the clutch and gearshift in the manual, too.

And the Dark Horse? It may look similar on paper but it’s a sharper, more engaging car to drive. The close-ratio gearbox makes it feel much more urgent and the chassis changes give it a clear handling edge over the GT. It’s a shame they’re all spoken for, but good news for those 1000 lucky buyers.