Raine WarrenSometimes, amidst all the buzz surrounding electric vehicles and Tesla, it's refreshing to take a moment and appreciate the classic allure of a muscle car.
On Thursday evening, Ford Motor unveiled its latest gasoline-powered masterpiece: the Mustang GTD. And let me tell you, this beast is something to behold.
With a stunning carbon-fiber body, the first-ever Mustang GTD is a supercar boasting a jaw-dropping 800 horsepower. Ford CEO Jim Farley perfectly sums it up in a news release, stating, "Mustang GTD shatters every preconceived notion of a supercar. This is not just a road car engineered for the track; it is a race car designed for the road."
Curious about the name? GTD stands for Gran Turismo Daytona, a prestigious class of racing cars.
The incredible horsepower is fueled by a supercharged, 5.2-liter V8 engine. Inspired by the triumphant return of the Mustang GT3 race car to the renowned 24 Hours of Le Mans race in 2024, this street-legal version is set to hit roads as a 2025 model year car.
It goes without saying that such an extraordinary supercar comes with a hefty price tag. Expect to pay around $300,000 for the pleasure of owning this limited-edition symbol of power and performance. Designed as a trophy piece rather than a high-volume seller, the Mustang GTD is unlikely to make a significant impact on Ford's sales and earnings.
So, take a step back from the electric vehicle conversation for a moment and let yourself be captivated by the sheer brilliance of this gasoline-powered marvel. The Mustang GTD is driving us toward an electrifying future while paying homage to the rich legacy of muscle cars.
Ford Stock Gets a Boost
Shares of Ford stock saw a small uptick in light of recent news. On Friday, Ford's stock increased by 0.8%. Meanwhile, the S&P 500 fell by 0.2% and the Dow Jones Industrial Average saw a gain of less than 1%. In contrast, shares of Ford's competitor, General Motors (GM), experienced a slight decline of 0.3%.
The GTD: A Boon for Ford
The GTD (Global Technology and Development) initiative promises to bring benefits to Ford as a whole, particularly in the development and enhancement of the Mustang brand. This move also highlights the notion that any car, be it electric or gasoline-powered, has the potential to captivate drivers as long as it possesses a certain appeal.
EVs Struggle to Impress
Despite their efforts, traditional automakers have faced challenges in exciting car buyers with their electric vehicles (EVs). While the Ford Mustang Mach-E has performed well, its sales in the U.S. amount to only a few thousand each month. In contrast, Tesla's Model Y sells tens of thousands monthly.
Mach-E sales have shown a decline compared to the previous year, with only 17,977 units sold in 2023 through July compared to 22,645 in the same period last year. To boost their EV business, Ford and other automakers are in need of a hit as successful as Tesla's Model Y.
Ford Incurs Losses
Ford currently expects to suffer a loss of around $4.5 billion from selling EVs in 2023 alone. This highlights the challenges that lie ahead for the company in its transition towards electric mobility.
The Classic Mustang
In contrast to EVs, Ford's traditional Mustang remains popular as a sports car. Thus far in 2023, Ford has sold 26,704 gasoline-powered Mustangs. Although it may seem modest, considering that sports cars only account for a small portion of the overall U.S. new car market, this figure is relatively impressive.
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