The latest generation Mustang brings a new nameplate to the stable. The most powerful, track-focused, and street-legal pony car to wear the iconic badge is now the Ford Mustang Dark Horse. It picks up where the Mustang Mach 1 left off. That car picked up the torch from the Performance Package Level 2 version, which was a finalist for Motor Authority Best Car To Buy 2019. Will the new generation push the Dark Horse over the top?

The Mustang lineup isn’t really new, but it’s heavily revised enough to warrant an internal platform code change from S550 to S650.

Ford Mustang Dark Horse

Ford Mustang Dark Horse

The star of the Dark Horse is the revised 5.0-liter Coyote V-8 rated at 500 hp and 418 lb-ft of torque, which is up 20 hp and 3 lb-ft over the standard GT’s V-8. These aren’t differences that can be felt, but bragging rights are bragging rights. 

The power increases are thanks to a different tune, a dual-intake plenum, better intake routing with dual air intakes mounted in the grille, standard active exhaust, and connecting rods from the Mustang Shelby GT500.

One change that can be felt is the switch from the GT’s Getrag to a Tremec 6-speed manual transmission. It’s a more robust transmission with a trans cooler for track driving, and it has short, positive throws and a weighty clutch pedal. For those who don’t #GiveAShift, a 10-speed automatic is available for the Dark Horse, and it has trim-specific programming changes to hold gears longer.

Dark Horse models get the same brakes as Mustang GT Performance Pack cars. They’re 15.4-inch vented front rotors grabbed by Brembo 6-piston calipers and 14.0-inch vented rear rotors with 4-piston calipers. An upgrade isn’t needed, as these brakes haul down the Mustang from triple-digit speeds repeatedly without ever fading or smoking. 

Ford Mustang Dark Horse

Ford Mustang Dark Horse

Other revisions to the Dark Horse from the rest of the GT lineup are in the name of track performance. They include a slightly quicker 15.5:1 steering ratio (versus 16.0:1), a stiffer steering column for more direct connection to the pavement, and 50% stiffer rear lower control arm bushings for improved handling.

Base Dark Horse models have similar performance equipment as GT models with the Handling Package, including 255/35R19 front and 275/30R19 rear Pirelli P Zero PZ4 summer tires, a strut tower brace, and a Torsen limited-slip rear differential with a 3.73 ratio (with a manual transmission, 3.55 with the automatic). But things go further for the Dark Horse with front springs that are 31% stiffer, half-inch wider wheels front and rear, and standard magnetic dampers. There are also additional transmission and rear differential coolers, as well as a more effective oil-to-air engine oil cooler mounted in the grille.

Ford Mustang Dark Horse

Ford Mustang Dark Horse

But Dark Horse buyers can opt for a $4,995 Handling Package that cranks up the handling prowess. Wider 19x10.5 front and 19x11 wheels get mounted on sticky 305/30 front and 315/30 rear Pirelli P Zero Trofeo RS tires, which are basically street-legal race car tires. The only other new car with these new tires is the Pagani Utopia. There’s also an extension added to the front lip spoiler, a set of side skirts, a new rear diffuser, and a Gurney flap on the fixed rear wing.

The easiest way to spot a Dark Horse, especially if it isn’t equipped with the Handling Package, is the dark mascara-like trim underneath the headlights and the functional hood vent. 

Ford Mustang Dark Horse

Ford Mustang Dark Horse

Inside, the Dark Horse sports the same updates as other Mustangs. A large slab of glass rises from the dashboard to cover a 12.4-inch digital gauge cluster and a 13.2-inch touchscreen. The entire system is reconfigurable, and there’s even a retro Fox Body set of digital gauges for fans of the car’s history. The regular seats are fine, but the available Recaros are a must for track driving to hold you in place. They are supportive and comfortable while hugging in all the right places. 

Ford Mustang Dark Horse

Ford Mustang Dark Horse

Starting at $60,865, the Dark Horse isn’t cheap. It’s $4,285 more than a GT model with the Performance Package, magnetic dampers, and active exhaust, and by that metric it’s worth the price. 

But it still has all the drawbacks of other Mustangs. The doors are a reach to close, the rear seat is tiny, and in recent generations the car has gotten arguably too big and too heavy. 

Does this Mustang finally add up to be more than the sum of its parts? Will the Ford Mustang Dark Horse win and be named Motor Authority Best Car To Buy 2024 over an American supercar, a German sport coupe, a high-performance electric sedan, and a Japanese hot hatch? Check back on Jan. 3 when we reveal the winner, along with the champs from our sister sites, The Car Connection and Green Car Reports.