There's been recent speculation that the Ford Motor Company [NYSE:F] was planning to debut a new specialty Mustang at the Los Angeles Auto Show, which it was co-developing with Italian designer Fabrizio Giugiaro from ItalDesign.

This image that turned up on Mustang Forums reveals a suspicious looking car with the classic Mustang shape, but with much smoother lines and a new tail-end. The image was taken in Italy, and its photographer mentioned that the front-end styling resembles that from the Chevrolet Camaro concept.

The interior was said to have been redesigned, while the windshield is integrated with a full glass roof. The latest Mustang concept that’s expected in L.A. will be collaboration between Ford design head J Mays and the aforementioned Giugiaro, and the car is rumored to be powered by the most powerful Mustang engine developed so far.

This car could be cursor to the Mustang facelift that’s due in 2009, and is similar to the renderings of the next-generation Mustang that turned up recently.

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