As we patiently wait for the seventh-gen Mustang to supplant the outgoing model on dealer lots, Ford has released some performance specs for the latest pony car—and it's good news. The tweaked 5.0L Coyote V8 brings things up a notch for 2024, now making 480 hp in the GT and 500 hp in the range-topping Dark Horse. For those who don't know, the latter model is new to the stable.

This generous power bump means that the GT contains more horses than last year's Mach 1 (which made 470 horsepower for 2023), which sat just below the top dog Shelby GT500. Meanwhile, the outgoing GT produced 450 hp. Opting for the performance exhaust raises that number to a whopping 486 horsepower and 418 lb-ft of torque. The Blue Oval installs a six-speed manual as standard equipment in the latest GT, though a ten-speed automatic is still available.

The improved Coyote V8 is even more powerful in Dark Horse guise, which adds a new crankshaft and forged piston connecting rods. These extra tweaks bring total output to 500 horsepower and 418 lb-ft of torque for the newest Mustang variant.

At the opposite side of the Mustang lineup, the entry-level EcoBoost and its 2.3 liter four-cylinder don't enjoy the same major power upgrades, but there are five more horses available, producing a total of 315 hp and 350 lb-ft of torque. Sadly, EcoBoost owners will be stuck with an automatic for 2024, meaning you'll have to reach for at least the GT model if you want a stick shift.

Production for the 2024 Mustang will commence next summer, though pricing information has yet to be revealed.

Images: Ford