Fans of the Blue Oval and muscle cars alike have plenty to look forward to in the coming weeks, as the all-new Ford Mustang is expected to debut at the Detroit Motor Show in September. The carmaker has kept details fairly well hidden and, apart from some spy shots and a blurry front-end glimpse, little is known about the seventh generation of the American icon.

However, sources close to the development allege that the new Mustang GT will boast nearly 500 horsepower in some states of tune. It remains unclear whether the standard GT or higher-powered models (such as the Mach 1) will pack this much punch, but this is excellent news for hopeful owners across the country. Currently, the Coyote-powered GT model produces a substantial 450 hp while the muscly Mach 1 has 470 hp.

Previously, both derivatives saw a reduction in power after Ford was forced to comply with revised emissions legislation. While we can expect hybrid powertrains in the near future, the new Mustang will launch with revised versions of the current engines; the EcoBoost 2.3-liter and 5.0-liter V8. If the Mach 1 is to receive a power hike close to 500 hp, the regular GT will likely be pegged around the 470 hp mark.

This "evolution rather than revolution" ethos Ford has adopted extends to the exterior styling. Based on the image seen above, it's clear to see the latest Mustang hasn't changed much in terms of design. It's certainly more modern, but Ford is smart enough not to mess with a successful recipe - after all, the Mustang is the world's most successful sports car. The profile appears the same as well, but we can expect changes at the rear and inside, too.

On the transmission front, there's more good news. Ford has confirmed the S650 generation will have a manual gearbox, which should please keen drivers. Even though the Blue Oval is committed to strengthening its position in the electric vehicle arena, CEO Jim Farley has previously said the gas-powered Mustang will live on for some time, although a battery-powered Mustang is in the pipeline.

Traditionalists will surely appreciate Ford's commitment to driving pleasure, especially as rivals have elected to kill off their ICE-powered muscle cars. Dodge, for example, has said the next-generation Challenger and Charger will discontinue Hemi V8 models in favor of high-powered EVs. While they will undoubtedly be fast, not too many will be keen on a silent muscle car. The next Mustang may find itself some previous Dodge owners, then.