The next-generation Ford Mustang is due to be unveiled next March at New York and along with some recent spy shots, rumors are already circulating regarding what will happen to the SVT Mustang. As we all know, it's currently called the Shelby GT500, but an earlier report indicated this name may change to simply "Cobra." But that was last week. Mustangs Daily is claiming that Cobra will not be the name used. Instead, the reported name will be GT350.

What's more is that it will be powered by a naturally-aspirated V8 derived from the current 5.0-liter unit. It's not unreasonable to expect this engine to have an even higher displacement. You can see and hear a test mule 2015 GT model in the video below.

Now, the next Mustang GT will likely produce somewhere around 450 horsepower, but the GT350 will be more powerful although less so than the current GT500, which is good for 662 hp. Also, expect for the GT350 to be more of a "stripped down" model but it'll still include plenty of features one would expect at its price point. The GT350 won't debut until sometime after the rest of the base lineup, consisting of the V6, EcoBoost and GT models. In 2016, however, it's looking like Ford will launch a new Mach 1 as a special edition model, although this isn't fully confirmed just yet.