The Ford Mustang is the best-selling sports car in the world. With the introduction of the S650 generation, the market landscape that the Mustang resides in is a bit different than in years past. Dodge and its muscle car offerings are going all-electric, and the future of the Chevrolet Camaro remains unclear. The Mustang is poised to be the last internal combustion-powered vehicle in the long-standing muscle car segment.

Here's what you need to know about it.

The Ford Mustang lineup will continue to offer a variety of different models with various levels of performance available for customers. A turbocharged four-cylinder will remain the entry-level powertrain, while a variety of V-8 engines provide more grunt for those who require more out of their pony car.

The S650 Mustang will be available in both hardtop coupe and convertible configurations for both the EcoBoost and GT models. The new range-topping Dark Horse model is exclusively offered as a coupe, however.

The Dark Horse nameplate marks the first all-new Mustang model to join the lineup since 2001, when the Bullitt was first introduced during the New Edge era. The Dark Horse promises to bring more track readiness than the formidable GT model thanks to some key component upgrades.

The entry-level Ford Mustang will come equipped with a 2.3-liter turbocharged EcoBoost engine. The engine has been heavily revised for the S650 platform, including the tweaks to the pistons, connecting rods, camshaft, and fuel system. Compression has also risen from 9.5:1 to 10.6:1.

The updated EcoBoost engine will also feature a new electronic wastegate for its twin-scroll turbocharger, which is a first for the nameplate. Other upgrades for S650 include a new air induction system, as well as an exhaust-gas recirculation system aimed at improving emissions.

Output for the EcoBoost engine is slated to exceed the outgoing unit’s rating of 310 hp and 350 lb-ft. Sadly, the engine will only come paired to Ford’s 10-speed automatic transmission.

The Mustang GT will retain the venerable 5.0-liter Coyote V-8, though it adopts a variant of the Gen IV engine that debuted with the 2021 F-150. A dual intake/throttle body setup improves airflow and output, which should exceed 480 hp in GT spec.

A more potent variant of the Coyote V-8 will also be featured in the new Mustang Dark Horse model, with pistons and connecting rods from the outgoing GT500 model installed. Output is expected to be closer to 500 hp.

Despite persistent rumors to the contrary, Ford has not invested in bringing a hybrid powertrain to the S650 Mustang lineup, to our knowledge. The automaker has stated that its growing electric vehicle lineup allows the pony car to retain a gas-drinking engine without negatively impacting the brand's CAFE figures.

While EcoBoost customers are limited to just a 10-speed automatic, both the Mustang GT and Mustang Dark Horse models will offer a six-speed manual gearbox. The GT retains the Getrag unit from the S550 generation, while the Dark Horse picks up the Tremec-sourced gearbox from the S550 Mach 1.

Manual-equipped Mustang Dark Horse models will receive a unique shift knob inspired by the Ford GT's titanium exhaust pipes. Mirroring the blue hue of that heat-cycled component, Ford has fitted the Dark Horse with a 3D-printed piece of anodized titanium atop the shifter, complete with a unique texture to help keep it cool.

Automatic-equipped S650 Mustangs will benefit from a new feature that Ford is calling "Remote Rev." This system will allow owners to start and rev their engine from their key fob, which is sure to help make cars and coffee events more interesting.

The front strut and integral-link rear suspensions setup found on the S550 is largely unchanged for the S650 Mustang aside from some tuning work. That said, there are new links installed on models with the 19-inch wheel option.

Regardless of the similar layout, Ford states that the S650 will be the most "athletic" Mustang we've seen yet.

The Mustang Dark Horse will come equipped with MagneRide shock absorbers. The shocks are carried over from the high-performance S550 models, but have been entirely recalibrated for the S650 platform.

Both the Mustang EcoBoost and Mustang GT models will see the return of the Performance Package option. This includes upgrades such as a strut-tower brace, a Torsen limited-slip differential, a staggered set of tires, and bigger Brembo brakes. A set of MagneRide dampers are also an option for buyers who have already specced the Performance Package.

The Mustang Dark Horse also benefits from a Performance Package of its own. A larger rear sway bar, heavy-duty front shocks, a Ford Performance K-brace, upgraded Brembo brakes and a Torsen rear differential are all included in the package. Dark Horse customers will also receive 19-inch wheels wrapped in Pirelli P-Zero PZ4 tires should they opt for the Performance Package.

If you plan to take your Mustang Dark Horse to the track, Ford has yet another package for you. The Mustang Dark Horse Track Package includes a revised aero setup similar to that found on the S550 GT500, including an exclusive rear wing with integrated gurney flaps. The package provides more downforce than any Mustang model to come before it.

Leaning into the track-oriented nature of the new model, Ford has announced that two dedicated track-only variants are in the works. Known as the Dark Horse S and Dark Horse R models, these offerings join the upcoming GT4 and GT3 racers on Ford's quest to dominate motorsports.

Dark Horse Track Package customers will also be able to spec a set of carbon wheels from Carbon Revolution, as seen on the current S550 GT500 model. These wheels will help shave some time off at the track, and come wrapped with Pirelli Trofeo rubber in Dark Horse applications.

The S650 Mustang receives a new steering rack complete with a faster ratio (15.5:1 vs 16:1). Combined with some stiffer mounts points and a new calibration, Ford says the updated pony car will immediately provide more feel and accuracy through the steering wheel.

Like most vehicles on the road today, the S65o Mustang has abandoned a traditional parking brake in favor of an electronic unit. That said, every S650 Mustang will come equipped with the automaker's new drift brake setup, which allows you to modulate brake pressure through the lever as if it were a traditional unit. You can also customize the handle itself thanks to the unique bolt system, allowing for more drift-appropriate appointments to be installed.

The S650 Mustang should look familiar to fans of the nameplate. The hard points are carried over from the outgoing S550, but Ford has worked to differentiate the two cars in the details. The new car is much harder-edged in its appearance, with more aggressive lines and shapes. Take note of the large hood vent found on the V-8-powered models in particular.

The most obvious way to distinguish the S650 from the S550 comes around the rear. Ford has reworked the entire rear valance of the S650, which now features a dramatic concave surface. The rear lights also do a solid job of highlighting just how different the two designs really look. The iconic triple-segment taillights still remain.

Regardless of which trim you select, the interior of the S650 Mustang is dominated by screens. Entry-level models feature separate gauge cluster and infotainment screens, while the more expensive models see those screens housed behind a single piece of glass. Many hard buttons have also been removed, but the interior space itself should be recognizable to any S550 fan.

The S650 Mustang utilizes Ford's Sync4 infotainment system, which supports features like over-the-air updates. The system also comes backed by Unreal Engine, the graphics engine that has been made famous by video games like Fortnite. The system provides a suite of unique graphics and animations, which can be seen as you cycle through the various drive modes.

You can even make your gauge cluster look like it belongs in a Fox Body Mustang, if you so desire.

Ford has yet to release any official pricing information related to the S650 Mustang, though that data should come closer to the car's on-sale date. We expect pricing to remain relatively in line with the current offerings.

For reference, the current S550 Mustang EcoBoost carries a base price of $28,845. The V-8-powered GT sees that starting price point jump up to $39,420.