The First 2024 Ford Mustang GT Just Sold At Barrett-Jackson For $565,000

Jan. 31, 2023 6:26 AM ET by Jay Traugott Auctions / 7 Comments

VIN 001 will be equipped with the 5.0-liter V8 with up to 486 hp.

The very first seventh-generation 2024 Ford Mustang GT has been sold at the Barrett-Jackson charity auction event in Scottsdale, Arizona for an impressive $565,000. The car hasn't been built yet, which is typical for charity auctions such as this. The lucky winner will be able to spec their new Mustang GT to their liking.

The only thing we can confirm about it is that, because it's a GT, it'll be powered by the familiar 5.0-liter naturally aspirated Coyote V8 rated at up to 486 horsepower and 418 lb-ft of torque (when equipped with the optional active valve exhaust system).

Its new owner will be able to choose between either a six-speed manual or a 10-speed automatic transmission. A total of 11 exterior colors are offered, along with optional new stripe colors and designs.

Ford

Additional options include three Brembo brake-caliper color choices along with new alloy wheel designs ranging from 18 to 20 inches. There's also the Performance Pack, a definite must-have for track enthusiasts, as it tacks on goodies like Recaro seats and the active exhaust.

All proceeds from the sale will be donated to the Juvenile Diabetes Research Foundation (JDRF), which funds Type 1 diabetes research.

This is not the first (nor last) time Ford has auctioned off a new model for charity, specifically at a Barrett-Jackson event. Past examples include the fifth- and sixth-generation Mustangs when they first premiered, as well as the first Bronco, Mustang Mach-E, flat-plane crank V8 Mustang Shelby GT350, and limited-production GT500 Heritage Edition, which sold for just over $1 million to help aid Hurricane Ian victims.

Ford

The seventh-generation Mustang is not dramatically different from its immediate predecessor. Despite earlier reports, Ford opted not to introduce a hybrid Mustang at this time.

Instead, the Blue Oval went with an evolutionary approach, incorporating design elements from other historic Mustangs. For example, the tri-bar LED headlights are inspired by the triple taillights found on many Mustangs. The GT also gets a larger and more dynamic-looking grille, hood vents, and a front splitter.

Step inside, and you'll find a jet-fighter-inspired interior boasting a 12.4-inch customizable digital instrument cluster featuring 3D animation software. There's also a 13.2-inch center screen with SYNC 4, ambient lighting, a flat-bottom steering wheel, and bucket seats.

Ford has not yet released official pricing info for its latest pony car range, but you can expect it to be relatively similar to the outgoing lineup.