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The current-generation Ford Mustang has come a long way since its launch in 2005.

It may still have a live rear axle but the latest 2013 Ford Mustang can carve up a track just as well as its competitors and can even put some much more expensive models to shame.

No longer are fellow muscle cars like the Chevrolet Camaro and Dodge Challenger alone in the Mustang’s crosshairs, as import rivals like the Nissan 370Z and Hyundai Genesis Coupe are offering up similar specs.  

For 2013 the Mustang still comes in V-6 or V-8 flavors and with the choice of coupe or convertible bodystyles.

While there’s only one V-6 model to choose from, Ford offers three different V-8 options ranging from the 420-horsepower GT right up to the 650-horsepower Shelby GT500.

Yes, you read that correctly. Ford is offering a Mustang in 2013 with a supercharged 5.8-liter V-8 engine delivering 650 horsepower and 600 pound-feet of torque. The best part is that all that performance can be yours for just $54,200, excluding destination.

Between the GT and insane Shelby GT500, Ford also offers the Boss 302, which like the GT comes with a 5.0-liter V-8 but with its output tuned to 444 horsepower.

With this amount of V-8 action in the fold, you might be thinking that Ford has ignored its V-6 buyers. But you’d be wrong. The V-6 Mustang, which starts from just $22,200, delivers up 305 horsepower, which is enough to turn in 0-60 mph times of about 6.0 seconds, plus fuel economy of up to 31 mpg on the highway when teamed with the six-speed automatic--which for 2013 gets SelectShift manual control.

Visually, the 2013 model doesn’t look that much different from last year’s ‘Stang. However, it does offer up a more aggressive design thanks to a more prominent grille, a new splitter and body-colored rocker panels. The rear has been updated with a high-gloss black panel that connects the tail-lights, while the lenses themselves get a new smoked appearance.

Also new for the Mustang are standard high-intensity discharge (HID) headlights as well as LED detailing front and rear. The standard wheel size on the base V-6 is 17 inches but bigger sizes are available.

Inside, customers will be able to opt for new Recaro seats (the same ones from the Boss 302 and Shelby GT500), premium audio options, and there’s now a handy 4.2-inch LCD integrated in the main instrument cluster.

For our driving impressions, check out our extensive first drive report, and for a close look at all the 2013 Ford Mustang’s safety, quality, design and features, head over to our sister site The Car Connection for the full review.

UPDATEWould You Pony Up $200k For A 2013 Ford Mustang Boss 302?

The 2013 Ford Mustang Boss 302 is a great car, but is it worth supercar prices? Read Update

UPDATEShelby GT500 Cobra Tribute Car Only Musters $200k At Auction

A one-off Mustang built as a tribute to the late Carroll Shelby only managed to sell for $200,000 at auction. Read Update

UPDATEFord Rolls Out 2012 SEMA Mustang Fleet

Ford teamed up with almost a dozen tuners to help develop its range of custom Mustangs for the 2012 SEMA show. Read Update

UPDATECustomize Your Dream 2013 Ford Mustang With Downloadable App

A downloadable app for customizing your dream Mustang is now available for the 2013 model. Read Update

UPDATEFord To Donate Another Custom Mustang Boss 302 For Charity

Ford plans to auction off a custom 2013 Ford Mustang Boss 302 Laguna Seca to help raise funds for the American Cancer Society. Read Update

UPDATE2013 Shelby GT500 Super Snake Continues Construction: Gallery

The 2013 Ford Mustang Shelby GT500 begins its transformation in the the 2013 Shelby GT500 Super Snake. Read Update

UPDATE2013 Shelby Mustang GT350 Build Gallery

The 2013 Shelby Mustang GT350 is beginning to take shape at Shelby American. Read Update

UPDATE2013 Ford Mustang GT Red Tails Edition Revealed: Gallery, Video

The Red Tails Edition 2013 Ford Mustang GT will be sold to benefit the EAA Young Eagles organization. Read Update

Specs: Select a Trim

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