Ford hikes Mustang prices

Ford has hiked the prices of its first global Mustang by up to $2500 just as first customer cars arrive, but denies it is 'gouging' Australian customers following unexpected local demand.

The company announced a surprise sub-$45,000 starting price for the Mk6 Mustang earlier this year and heralded the arrival of first customer cars last week, when it said pre-orders now numbered more than 4000.

The Blue Oval says more than 80 per cent of pre-orders include paid deposits, and that about 85 per cent of customers have so far opted for V8 and coupe variants, pushing the waiting list out to 2017. Three shiploads of Mustangs have already arrived, with two more are on their way in 2016.

Ford hasn't given a reason for price rises that come into effect this week, when four-cylinder EcoBoost models increased by $1000 and V8s went up by $2500, but Ford Australia president and CEO Graeme Whickman says "nobody's getting gouged".

"We entered the market with a pretty aggressive set of prices," he told motoring.com.au prior to our first Australian drive of the new Mustang at Ford's You Yangs Proving Ground today.

"You’ve got an affordable pony car starting in the mid-$40,000s, and you're topping out in the early $60,000s. We've got a waiting list that goes all the way through until next year – it's quite incredible.

"But at the same time, like any vehicle we're always monitoring the pricing situation. What we've done is we've protected anyone who's put an order in until late November, so nobody's getting gouged or hurt or anything like that.

"Anyone who wants to buy a vehicle now has a decision to make around how good the vehicle is and how much money they want to spend."

Whickman said the new Mustang prices, which now start at about $46,000 for the base EcoBoost Fastback manual and around $60,000 for the GT Fastback auto, still represented outstanding value.

"When you're talking about the price rises you're talking about circa $1000 on the EcoBoost and around $2000 on the V8. You're still talking about a V8 GT for $59,990 and an EcoBoost twin-scroll turbo at $45,990. It's still very good value."

Ford Australia announced Mustang pricing on March 3, 2015, but since then the value of the Australian dollar has declined almost nine per cent against the US greenback, impacting the company's profit margins on the Michigan-made model.

Whickman said customer expectations will need to be carefully managed with a waiting list of more than a year, and could not say if extra supplies would be forthcoming from the US to satisfy demand sooner.

"We're one of the bigger takers of right-hand drive [Mustang] vehicles in the world now. It's fantastic, it shows the passion that Australians have for the vehicle. It's an amazing situation to be in, it's a fortunate situation to be in.

"But we are having to manage customers pretty carefully. We don't want to frustrate any customers. We have to be open and honest about the wait lists and how long it is and then buyers will make a choice."

Whickman would not comment on the official availability of Roush Performance products for the Mustang via Australian Ford dealers – including the 500kW supercharger kit – as reported exclusively by motoring.com.au, but hinted an announcement was imminent.

"We're not prepared to talk too much around the performance piece at this stage. You can see what happens around the world," he said.

Asked if the Roush deal was facing issues, Whickman said: "No, we're just not in a position to talk about it.

"Like any popular vehicle there's always interest around how you can enhance a vehicle. Like any consumer facing business we're always looking to see what opportunities are there for us and we're always monitoring demand as well."

Ford Australia's first factory Mustang comes standard with either a 233kW 2.3-litre turbocharged four-cylinder engine or a 306kW 5.0-litre V8.

2016 Ford Mustang pricing (plus ORCs):
EcoBoost Fastback -- $45,990 (up $1000)
EcoBoost Fastback (a) -- $48,490 (up $1000)
EcoBoost Convertible (a) -- $54,990 (up $1000)
GT Fastback -- $57,490 (up $2500)
GT Fastback (a) -- $59,990 (up $2500)
GT Convertible (a) -- $66,490 (up $2500)

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