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One of America's most iconic cars is the Ford Mustang. First introduced at the 1964 New York World's Fair, and making it's first movie appearance in the James Bond film Goldfinger later that same year, it quickly became one of the most successful cars ever, selling over a million units in its first year and a half on the market. More than 40 years later, the Mustang is still a vital part of Ford's lineup, and while the last major revision was in 2005, the 2008 model sports new colors, better safety features, and two more models  - these named after racing legend Carroll Shelby - the Shelby GT convertible and the Shelby GT500KR (the latter to be available come spring).

As well as the Shelby versions, the 2008 Ford Mustang comes in convertible and coupe styles with a V-6 engine in the base model, and a V-8 in the GT trim level, with Deluxe and Premium variants of each. More specifically, the V-6 is a 4.0 liter engine producing 210 horsepower while the all-aluminum V-8 has a volume of 4.6 liters and provides 300 horsepower and 320 pounds-feet of torque. The default transmission is a five-speed manual, with a five-speed automatic available as an option. Both engines use regular gasoline. The Shelby GT offers 319 horsepower and the zippier Shelby GT500KR will provide a hefty 540 hp.

Safety features of the Ford Mustang have been enhanced for the 2008 model year, and include four-wheel disc brakes and side-impact airbags across the line, while the GT comes with antilock brakes and a traction control system that are still optional upgrades for the V-6 versions of the car. Side curtain airbags are not available, but despite this the Insurance Institute for Highway Safety gave the Mustang a score of Good (the highest level) for side-impact protection, and Acceptable in front-impact crashes.

Inside the car, there are two front seats, as well as two rear bucket seats that aren't quite full-sized. Ford actually refers to the car as a "2+2," so if passengers are an issue, prospective new cars and buyers should take note of that.

Chrome trim rings the air vents on the dash, which also features barrel-style gauges. The steering wheel is a three–spoke model with the black hub sporting the Mustang horse and logo. The instrument panel can be configured with any of 125 background colors, and there's also an ambient lighting option that gives owners a choice of seven lighting colors for the cup-holder and foot-well accent lights.

Other standard equipment includes cruise control, power windows and door locks, and keyless entry. The standard audio system has a single CD player, but Premium trim levels come with a Shaker 500 stereo system, while the GT has the option of a Shaker 1000. Cars equipped with the Shaker system will lose some of the 13.1 cubic feet of trunk space to the subwoofer.

The exterior design of the 2008 Mustang is firmly rooted in the original look from the '60's, with a forward-leaning grille, C-scoops on the sides, tri-bar tail lights, and the familiar galloping horse badge. The head lights are round, set in trapezoidal housings, and the wheels on the GT are 17–inch with aluminum spokes, while the base models are a more conventional 16-inch rubber, though there are four wheel/tire combinations in all, including an 18-inch wheel choice on the V6-coupe.

Optional exterior features also include xenon high-intensity-discharge head lights, and a choice of three new paint colors.

The starting MSRP for the 2008 Ford Mustang ranges from $19,250–$31,845, depending on the trim level chosen.