We spend a week in Ford's iconic pony car that's all-new and ready to take on the 21st Century

Pros:

Agile and responsive handling
Much quieter interior
Interior fit and finish

Cons:

Rear seat room
Soundtrack from the turbo four

2015 Ford Mustang EcoBoost Premium

2015 Ford Mustang

First introduced in 1964 as a 1965 model, the Mustang not only created what became known as the pony car segment, it instantly became an iconic symbol of the Ford Motor Company.

But updating any icon is a risky business, fraught with peril. So does the latest one live up to the hype as well as the model's storied history?

2015 Ford Mustang EcoBoost Premium

Exterior

Outside there's no mistaking the new model for anything but a Mustang – this despite the fact that the latest version presents a far more sophisticated look. To that end, it's sleeker than the outgoing model while still presenting an aggressive front end, highly-sculpted sides and new aerodynamic hindquarters, which give the new Mustang much more of a presence while preserving the essence of previous versions.

Items that up the coolness factor include sequential rear turn signals as well as, on our tester, rearview mirror-mounted puddle lamps that, at night, project the Mustang logo on the ground when either of the doors is opened.

2015 Ford Mustang EcoBoost Premium

Interior

The coolness factor also extends into an interior that both looks feels more luxurious, with better and richer-looking materials as well as the use of more soft-touch surfaces. While the instrument panel carries over the 1964-inspired double brow look, the dash features stitching along with a wing-shaped aluminum trim piece across its entire width.

The gauges are large and easy to read, with all major controls within easy reach of the driver. This includes a slick-looking group of four toggle switches (emergency flashers, traction control, adjustable steering, drive mode selector) that are integrated into the same panel as the push-button start button.

2015 Ford Mustang EcoBoost Premium

The new interior also feels less claustrophobic and far more spacious. The front seats are nicely bolstered with plenty of leg, hip, shoulder and head room for front seat passengers. But although adult passengers can fit in either of the two back seats, short trips should be the norm as accommodations are more than a little on the tight side. Suffice it to say that, for longer excursions, they're better suited for small children.

Despite the low roofline, views out the front and sides are very good. The view out the back, despite the high trunk lid, is also good thanks to the large rear window (a color rear view camera – one of the best we've ever encountered - is standard). But even with the small window in the C-pillar, which does help things a bit, the view out the rear three-quarters is hindered by the sloping roofline.

2015 Ford Mustang EcoBoost Premium

Under the hood

Even more changes are in store under the hood. The 2015 Mustang is available with three engines. The entry-level powerplant is a 300 horsepower 3.7-liter V6 that churns out 300 horsepower and 270 lb.-ft. of torque while the top engine is the 5.0-liter V8 with a new valvetrain and cylinder heads that's now rated at 435 horsepower and 400 lb.-ft. of torque. Meanwhile, the middle engine, like the one in our tester, is all-new: a 2.3-liter direct injected, inline-4 replete with twin-scroll turbocharger that produces 310 horsepower and 320 lb.-ft. of torque.

2015 Ford Mustang EcoBoost Premium

That 2.3-liter turbo four is rated by the EPA at 21/32/25 mpg city/highway/combined, while my own observed fuel economy was 27 miles per gallon in a mix of city and highway driving. Despite the fact that it's turbocharged, it uses regular unleaded fuel.

The only downside to all this goodness is the soundtrack. When you put your foot into it at higher speeds, it does produce a satisfying growl. However, when its sitting at idle or when you first start it, there's nary a snarl to be heard.

2015 Ford Mustang EcoBoost Premium

On the road

On the road, there is reason to rejoice among the galloping horse faithful. The new Mustang's handling is not only well controlled and agile; it's nothing short of remarkable, courtesy of its new fully-independent rear suspension setup. There is no noticeable body lean in corners and it feels both lighter and more balanced than the outgoing model. The steering is also nicely weighted with plenty of feedback through the steering wheel.

The brakes are very strong and there is a noticeable bite to the pads. This situation makes it easy to modulate the brakes and, fortunately, there's also plenty of feedback to the driver through the brake pedal.

2015 Ford Mustang EcoBoost Premium

On the expressway, the Mustang tracks straight and it's unaffected by minor road imperfections, grooved pavement and even larger bumps. With peak torque between 2,500 and 4,500 rpm, merging into traffic and passing is a breeze.

Even better news is that cabin noise, even at higher speeds, is much improved over the outgoing model with very little in the way of tire, engine, road or wind noise entering the cabin.

2015 Ford Mustang EcoBoost Premium

2015 Ford Mustang prices

2015 Mustang prices start at $24,425 for a base V6 coupe equipped with a 6-speed manual transmission and can top out at over $45,000 for a fully-equipped GT 50 Years Limited Edition model with an automatic transmission.

This Race Red tester had a base price of $29,170. Adding the $1,795 equipment group 201A package (premium audio, memory driver's seat and mirrors, blind spot information system with cross-traffic alert), $1,195 automatic transmission, $395 enhanced security package (wheel locks, locking center console, active anti-theft with perimeter alarm) plus $1,195 for adaptive cruise control, $295 for reverse park assist and $795 for the voice-activated navigation system brought the total price, including an $825 destination and delivery fee, to $35,655.

2015 Ford Mustang EcoBoost Premium

The Bottom Line

There is a lot to like about the new Ford Mustang. Not only is the new model fun to drive on the straights, it's now also fun to drive when the road starts to twist and turn. And while the rear seat is still a fairly torturous place for 2 adults on long trips, the rest of the interior is not only more spacious, it also feels more contemporary and luxurious.

Here at Lot Pro, we must admit that, by and large, the majority of new vehicles being sold today are pretty good. But in the case of Ford's pony car, the new Mustang is light years ahead of the old model in every way – styling, performance, handling and interior ergonomics. Not only is it the best Mustang ever, it's now at the head of what serves as the pony car class today.

2015 Ford Mustang EcoBoost Premium