The Ford Mustang has undergone a transformation over the past 55 years, becoming increasingly advanced. The newest model features a standard 310-horsepower turbocharged inline-four EcoBoost engine with a six-speed manual transmission. While the Mustang also offers a powerful 760-horsepower Shelby GT500 option, the more common choice is the Mustang GT with a 450-horsepower V-8 engine.