When Holden switched off the lights at Elizabeth in 2017 and the last Falcon rolled out of Broadmeadows a year earlier, Australian car enthusiasts were told the V8 muscle sedan was dead. No more locally built rear-drive hero cars. No more affordable eight-cylinder thunder. For a country that built its motoring identity on the Falcon-versus-Commodore wars and worshipped at the altar of Bathurst, it felt like the end of an era.
Except it wasn’t. Because while the local heroes died, one car quietly inherited their throne and it wears a galloping pony on the grille. The Ford Mustang GT has become Australia’s best-selling sports car, outselling every rival combined, and in 2026 it stands as the last affordable, naturally aspirated V8 muscle car you can walk into a dealership and buy brand new. This is our full review of the car carrying the torch for Australian V8 culture.
The Numbers That Matter
The Mustang isn’t just symbolically important it’s a genuine sales phenomenon. In the first half of 2025, Ford sold around 2,489 Mustangs, making it the best-selling sports car under $90,000 in the country. Across a full year it has outsold the Mazda MX-5, Subaru BRZ, Toyota GR86 and Nissan Z combined, and by a massive margin. When Australians want something fun, fast and characterful, they overwhelmingly choose the pony car.
That dominance isn’t an accident. With nothing else offering a V8, rear-wheel drive and genuine muscle-car presence at this price, the Mustang occupies a category of one. The cars that would have competed a modern Falcon XR8 or Commodore SS simply don’t exist anymore.
Engine & Performance: The Heart of the Matter
The GT’s headline act is its 5.0-litre ‘Coyote’ V8 a naturally aspirated, double-overhead-cam unit that produces 345kW and 550Nm in Australian GT trim. There’s no turbocharger, no supercharger, no electric assistance. Just eight cylinders, a big displacement, and a sound that makes the hair on your arms stand up. In a world racing toward downsized, force-fed engines, the Coyote V8 is a beautiful anachronism.
Power goes to the rear wheels through either a six-speed Getrag manual or Ford’s 10-speed automatic. The manual is the enthusiast’s choice rowing your own gears in a V8 muscle car is a big part of the appeal but the 10-speed auto is genuinely excellent, with quick, intelligent shifts that suit both daily driving and hard charging. The GT will dispatch 0–100km/h in the low-to-mid four-second range, and the top speed sits around 266km/h.
2026 Ford Mustang Range & Pricing
| Variant | Engine | Power | Price (excl. on-roads) |
| EcoBoost (auto) | 2.3L turbo 4-cyl | 232kW | $72,990 |
| GT (manual) | 5.0L V8 | 345kW / 550Nm | $84,990 |
| GT (auto) | 5.0L V8 | 345kW / 550Nm | $87,990 |
| GT Convertible (auto) | 5.0L V8 | 345kW / 550Nm | $93,666 |
| Dark Horse (man/auto) | 5.0L V8 | 350kW / 550Nm | $104,990 |
| Dark Horse T8-Spec Pack | 5.0L V8 | 350kW / 550Nm | $138,888 |
The GT manual at $84,990 before on-road costs is the sweet spot of the range the most muscle-car for the money, and the variant that best channels the spirit of the old Aussie V8s. The EcoBoost four-cylinder exists for buyers who want the looks and lower running costs, but for the enthusiast audience Racewire speaks to, the V8 is the only real answer.
On the Road: Daily Driver Meets Weekend Weapon
What surprises first-time Mustang owners is how usable the GT is day-to-day. The cabin is modern and well-equipped, with twin digital displays, comfortable seats, and a boot that swallows more than you’d expect for a coupe. The ride is firm but never punishing, and the V8 will happily potter around suburbia at low revs returning reasonable-for-a-V8 fuel figures of around 12.8L/100km combined.
Then you find an open road, drop a couple of gears, and the GT transforms. The Coyote sings as the revs climb, the rear-drive chassis rotates predictably under throttle, and the whole experience reminds you why naturally aspirated V8s are worth preserving. It’s not as clinically sharp as a German coupe, but it has something more important: character. The Mustang feels alive in a way few modern performance cars do.
Stepping Up: The Dark Horse
For buyers who want more focus, the Dark Horse is the most track-capable Mustang in the range. Priced from $104,990, it adds a hotter 350kW tune of the 5.0-litre V8, a Torsen limited-slip differential, retuned MagneRide adaptive suspension, Brembo brakes, unique aero and a tighter-geared Tremec six-speed manual. It’s a genuine step up in capability and the closest thing to a road-legal race car in the lineup.
In 2026 the Dark Horse gains real significance for Australian enthusiasts through the limited T8-Spec Pack just 250 units, upfitted locally at Ford’s Broadmeadows facility in Melbourne in partnership with Triple Eight Race Engineering, the Supercars team behind Red Bull Ampol Racing. At $138,888 it’s seriously expensive, but it’s also a numbered, locally finished collector’s piece with genuine Supercars pedigree and a track day baked into the price. For the faithful, it’s a fitting modern tribute to the homologation specials of the muscle-car era.
Living With It: Running Costs & Ownership
A V8 muscle car isn’t a frugal proposition, and you shouldn’t pretend otherwise. Expect real-world fuel consumption in the 13–14L/100km range with mixed driving, more if you use the throttle the way the car begs you to. Insurance for a V8 coupe runs higher than for a mainstream hatch, and tyres will wear faster if you enjoy yourself. None of this is a surprise to the muscle-car buyer it’s part of the deal, and the soundtrack makes it worthwhile.
On the plus side, the Mustang’s enormous popularity means a deep aftermarket, strong parts availability, and a huge community of owners and tuners. The Coyote V8 responds well to modification, and there’s a thriving scene of Australian workshops building seriously quick street Mustangs. As a platform for a project or a daily-driven modified car, it’s superb and it slots perfectly into the broader Racewire world of mods, performance and Australian car culture.
Who Should Buy One?
Buy the Mustang GT if you want an affordable, characterful, rear-drive V8 with genuine presence and a soundtrack that no turbo-four can replicate and if you mourn the loss of the Falcon and Commodore, this is the car that fills the void. Buy the Dark Horse if you want a sharper, track-focused tool, or the T8-Spec Pack if you want a collectible piece of Australian-finished Supercars history.
Look elsewhere only if you need rear-seat space for adults, want maximum fuel efficiency, or prefer the clinical precision of a European coupe over raw muscle-car character. For everyone chasing the spirit of the Australian V8, the Mustang GT is, quite simply, the last one standing.
| VERDICT 9.0 / 10 The V8 Torchbearer The Ford Mustang GT is the last affordable naturally aspirated V8 muscle car on sale in Australia, and it wears the crown the Falcon and Commodore left behind. It’s loud, characterful, rear-drive and genuinely usable daily. The GT manual is the enthusiast’s pick; the Dark Horse and Triple Eight T8-Spec Pack add track focus and collectibility. In an age of turbos and EVs, the Mustang keeps the V8 flame alive and that’s exactly why Australia keeps buying it. |