Ford hikes Mustang price

FORD Australia has raised the price of its super-successful Mustang by up to $2500, just as the first deliveries are being made to local customers.

Currency exchange rates have been blamed for the hike that took effect from December 1. The company has assured existing customers with firm orders that the original price – announced back in March – will be honoured for their deliveries.

This means that customers who have waited until now to place a deposit will not only pay more than those already in the queue but also have to wait until 2017 for delivery.

The price of all four-cylinder EcoBoost Mustangs goes up by $1000, with V8-engine GT variants up by $2500.

The Mustang range now starts at $45,990 for the EcoBoost Fastback manual and tops out at $66,490 for the GT Convertible automatic.

So far, Ford dealers have taken deposits for about 4000 Mustangs, meaning the entire allocation to the end of 2016 is spoken for.

Three shiploads have already arrived to fill initial orders, and two more are on their way.

Since Mustang pricing was announced on March 3, the Australian dollar has slipped about 8.6 per cent against the United States greenback.

In the past year, the dip has been more than 18 per cent, placing pressure on the profitability of the US-built Mustang.

News of the price rise comes on the eve of the first local media test drive of the two-door coupe in an event to mark the 50th anniversary of Ford Australia’s You Yangs proving ground at Lara, in Victoria.

The Mustang is being sold with the choice of a 233kW 2.3-litre turbocharged four-cylinder EcoBoost engine or a 306kW 5.0-litre V8.

The initial shipment comprises 80 per cent coupes with convertibles making up the balance, while V8-powered cars make up 80 per cent of the entire shipment, with the four-cylinder turbo-engined cars making up the balance.

2016 Ford Mustang pricing*

Model	Price	$ Change
EcoBoost Fastback	$45,990	+$1000
EcoBoost Fastback (a)	$48,490	+$1000
EcoBoost Convertible (a)	$54,990	+$1000
GT Fastback	$57,490	+$2500
GT Fastback (a)	$59,990	+$2500
GT Convertible (a)	$66,490	+$2500

*Excludes on-road costs