The Ford Mustang is an American icon. Ever since it hit the streets in 1964, we've had a love affair with the sporty little notchback that has come to embody the spirit of fun, care free youth.
At no point in the car's nearly 50 year history have they stopped innovating. Mustang has always seemed to be exactly what it needed to be for the time. It maintained a balance of every-day livability and performance that others couldn't match.
I'll say this up front: The 2011 Mustang, in either V6 or GT guise, is the finest example ever to wear the running horse badge. The V6 puts out performance numbers that could make a GT from just a few years ago blush, and the 5.0-equipped GT has been spanking BMW's around the track.
Despite the car's general awesomeness, it is selling at its lowest rate in years. In February, just under 3,700 units were purchased, down 27% from the same month last year. Many are quick to blame the sales slide on some new competitors: Namely, the revived Chevrolet Camaro and Dodge Challenger. I'm about to tell you that they're right. Kind of.
Prior to 2008, if you wanted a uniquely-American pony car, you had to buy the Mustang. GM had pulled the plug on their Chevrolet Camaro and Pontiac Firebird in 2002, and Chrysler hasn't been in the game since Reagan's first term.
Sure, there were some other alternatives out there. Mazda revived the rotary engine and the RX moniker with their RX-8 coupe, Pontiac briefly peddled an Austrailan-built coupe as a GTO, and Hyundai, Toyota, and Ford's cousin Mercury all fielded sporty coupes, though the power was being sent to the wrong wheels. In that time, the Mustang moved from a "new edge" styled Fox body to a retro looking smash hit. The home run success of the 2005 Mustang is allegedly what finally lit the match under the proverbial butts of executives at GM and Chrysler to get back into the segment.
While both the Camaro and Challenger are generally dinged for being to big and heavy (a direct result of their platforms, they're both based off of full-size sedans), their sharp styling and historic nameplates have allowed them to gain traction in the market.
I'm not ready to say a huge portion of Mustang buyers are defecting to their local Dodge and Chevrolet dealers, it seems to me like a "perfect storm" so-to-speak has developed around the Mustang.
1. "Gotta Have It" factor: Though the 2010 and 2011 updates to the Mustang gave it incredible powertrains, sculpted styling, and a best-in-class interior, the Camaro (and, to a lesser extent, the Challenger) has a rabid fan base that hadn't been able to feed their need for years. As great as the Mustang is, it's consistency is temporarily working against it.
2. Mustangs are everywhere (including on the used lot): Let's face it. Ford has been selling thousands of Mustangs every month for nearly 50 years. They're everywhere. The 2005 model was such a styling success that it still looks fresh, more than 6 years later. I don't have figures, but I'd guess a fair share of customer visit the lot to look at new Mustangs and end up leaving with a great deal on a used one. There's nothing wrong with that, either. The young man who buys a used V6 could very well return a few years later and drive off with a brand new GT.
3. Evolutionary Thinking: The exterior updates to the Mustang for the 2010 model year took the still-popular shape from the previous model and reshaped and sculpted from there. The result was a car that was clearly Mustang, and obviously derivative of the "old" model. This type of evolutionary design just didn't stand out enough compared to the Chevy and the Dodge. A more strikingly new design may have pushed more current owners to trade in and upgrade.
None of us know where Ford's break-even point is on the Mustang, but since they haven't started inflating incentives to spark sales, I'd wager that they're mostly comfortable with their current levels.
It's come to light recently that the next generation Mustang (due in 2013 for model year 2014) would have global input, and would be manufactured in both right-hand drive and left-hand drive and sold around the world.
The current model needs to chug along for another 2 years until its replacement arrives. Don't worry yet. The Mustang always seems to be exactly what it needs to be for the time.
Thoughts?
They should design the next one so that the 4.4 liter diesel will fit, or the 3.7, for non-US markets. Great torque for the 6-speed. After all, it sounds like it will have the same footprint as a 3-series 2-dr, and BMW offer a diesel. Thanks to Audi at leMans, diesel has a different perception in non-US markets.
ReplyDeleteFirst of all, what a fantastic analysis and write up Ross - I give you 100/10! :)
ReplyDeleteI would tend to agree with you Edstock if it weren't for a little thing Ford call EcoBoost. I think an EBI4 would find itself between the front wheels before a diesel will - heck, there's already rumours of that happening!
As much as the purists (say they) don't, I quite like the idea of a modern-day SVO too - less weight than both the V6 and V8, same power as the V6 and it'd also be something that Chev and Dodge couldn't honestly match with their current line up of 4-pots.
I'm certainly no bean counter at Ford, but I'd imagine that with the sharing of these engines between Mustang and other models, it wouldn't be too hard to drop the engine based models and have no cost options for the different engines - something like: Base (EB4 / V6) and Premium (EB4 / V6 / V8).
I dunno, what do you guys think?
Cheers, Ben
I thought all of these same things when sales were down in 2010, but figured the 2011's new power trains would solve the issue. Guess I was wrong. I still have faith sales will improve when the newness of the Camaro wears off more.I love the idea of a new SVO, but I am not sure that will be a huge impact on sales, especially if it is priced like the original SVO higher than the GT. Then again if it is priced lower then it will probably just take sales from the V6. I think Ford needs to use the Mustang as show piece for new tech. Sure they have been setting the bar with performance, but Mustang was late the game adding sync, which along with high gas helped sell thousands of the aging Focus in 2008 because they debuted it there and advertised the heck out of it. The new Focus (which is an awesome car) even has park assist. Wow. Mustang needs something like that to get some younger buyers interested. something to make you go wow other than just blistering performance. what has the world come to?
ReplyDeleteI think that the voice of those who don't want an SVO rebirth is definitely shrinking. We know that the Camaro is moving to the much smaller and more modern Alpha platform for the next generation, so I'd be shocked if we didn't see an EB4, EB6, V8, and maybe EB8 (GT500 monster) for the next generation.
ReplyDeleteI really like the idea of changing the engine tiers, too. That could do plenty to shake up the segment.
I've heard enough about the 2014 Mustang to get excited about. Production begins in September 2013. Start saving your pennies!