The Mustang comes in two body styles: coupe and convertible. Each is available with a V6 or a V8. A five-speed manual transmission is standard; a five-speed automatic optional ($995). The 2007 Mustangs come in just two trim levels each for the V6 and for the V8-powered GT.

The V6 Deluxe Coupe ($19,250) comes with one-touch power windows, power mirrors and door locks, keyless entry, air conditioning, AM/FM/CD with auxiliary input jack, tilt steering, speed control, rear window defroster, 16-inch wheels, and a split-folding rear seat. Its 4.0-liter overhead-cam V6 generates 210 horsepower.

The V6 Premium Coupe ($20,175) upgrades to 16-inch bright-machined wheels with chrome spinners, plus a six-way power driver's seat, and 500-watt audio system with six-disc CD changer and MP3 capability.

The V6 Deluxe Convertible ($24,075) and V6 Premium Convertible ($25,000) are equipped the same as the coupes, except they delete the split-folding rear seat and add a powered folding top.

The GT Coupe ($25,275) comes with all the same equipment as the V6 Deluxe, plus sport seats, in-grille fog lamps, complex reflector halogen headlamps with integral turn signals, a rear spoiler, performance suspension, and performance tires on 17-inch painted aluminum wheels. Its 4.6-liter overhead-cam V8 produces 300 horsepower.

The GT Premium Coupe ($26,455) adds a 500-watt CD changer and Aberdeen leather-trimmed sport seats.

The GT Convertible ($30,100) and GT Premium Convertible ($31,280), are equipped similarly to the coupe versions.

The Shelby GT500 comes as a coupe ($40,930) or convertible ($45,755). The GT500 is powered by a 5.4-liter supercharged V8 developing 500 horsepower. It incurs a gas-guzzler tax ($1300).

The Pony Package ($750) for V6 models adds a firmer suspension, 17-inch painted aluminum wheels, a custom grille with fog lamps, and other visual upgrades, giving these more economical Mustangs something closer to the look and handling of a GT.

A new California Special package ($1895) spiffs up a Premium GT with 18-inch wheels, side scoops, unique tape stripes, rolled bright exhaust tips, black leather trimmed seats with unique "Cal Special" contrasting Dove or Parchment inserts, a larger air intake, a deeper chin spoiler, and unique front and rear fascias. The name refers to a special limited edition offered to California Ford dealers in 1968, but this Cal Special will be available nationwide. The GT Appearance Package ($245) features rolled exhaust tips, an engine cover with a Pony emblem, and a hood scoop.

Options include a new comfort group ($575) that includes an electrochromic mirror with compass, heated front seats, and six-way power for the front passenger seat. Stand-alone options include an active anti-theft system ($328); 1000-watt audio ($1,295); an interior upgrade package with leather-wrapped steering wheel, satin aluminum trim, and other cool-looking goodies ($460); power-adjustable driver's seat for the Deluxe Coupe ($365); heated front seats ($250); and 18-inch wheels ($825). Sirius Satellite Radio ($195) joins the option list for '07, and DVD-based navigation will be available on later 2007 models.

Safety features on all Mustangs include dual-stage front-impact airbags and three-point belts for all seats. Antilock brakes and traction control are standard on GTs and optional on V6 models. Front passenger side-impact airbags ($380) are optional on all models, so be sure to order them as they are designed to offer torso protection in a side impact.