It’s tough to think of a vehicle that’s more culturally significant than the Ford Mustang. Introduced in 1964, the Mustang is the longest-running continuous sports car nameplate in the USA, and the seventh generation model is currently the best-selling sports car by a wide margin.

Though it shares a lot in common with the outgoing S550 generation, including a platform and powertrains, the current S650 model is considered an “all-new” generation, not merely a facelift. Sold as either a fastback coupe or convertible, the Mustang has outlived both of its Detroit rivals, the Chevrolet Camaro and Dodge Challenger, though the latter will be replaced by a two-door Charger model, which will not be offered as a convertible.

That leaves only the BMW 4 Series Cabriolet and Mercedes-Benz CLE Cabriolet as the only close competitors to the Mustang Convertible, though we doubt most buyers will cross shop with them. CarBuzz spent a week driving a 2024 Ford Mustang GT Convertible, which – barring some pricing changes – isn’t any different from the 2025 model that’s been revealed. With nothing left to challenge it, is the Mustang Convertible still America’s drop-top favorite pony car?

Exterior: Have It Your Way

The seventh-generation Mustang is slightly less aggressive looking than its predecessor, at least to our eyes. We don’t love the rear end styling, which now features a horizontal “fold” across the trunk and taillights – but that’s likely not everyone’s feeling. Ford offers a vast level of customization for the Mustang Convertible, but our tester arrived wearing a rather plain shade of Iconic Silver Metallic that doesn’t call too much attention. Drivers who want to be noticed can opt for brighter hues, such as Race Red ($295), Grabber Blue Metallic ($295), Molten Magenta Metallic Tri-coat ($995), and Yellow Splash Metallic ($995) with 11 total color options. Sadly, some of these colors, like Yellow Splash, will not be available next year.

Buyers can add one of several special appearance kits, including the $1,095 Bronze Appearance Package, $1,395 Mustang Nite Pony Package, and $1,995 California Special Package. 18-inch wheels come standard on the Mustang Convertible, while the GT rides on 19s. Buyers of the base convertible can upgrade to 19-inch wheels (six patterns total), while the GT has as many as 11 wheel designs to choose from, including some that are locked to the appearance packages.

Interior: More Screens, Fewer Buttons

Owners of the previous S550 Mustang will recognize that the S650’s bones carry over in the cabin, but with some heavy updates. The 4.2-inch base LCD screen and eight-inch touchscreen have been replaced by a new 13.2-inch touchscreen, which now runs Ford’s Sync 4 software with wireless Apple CarPlay and Android Auto. We like the new screen, but hate that Ford got rid of most physical buttons below it, including the S550’s retro toggle switches. Ford also gave the Mustang slightly different software than other models, with some annoying anomalies, such as not having a shortcut for Apple CarPlay when you are in another menu. Hopefully a software update can improve this.

The Mustang had a digital gauge cluster before, but now it’s a 13.2-inch screen that looks like a tablet, similar to a BMW 4 Series. While the previous setup was more appealing visually, the new screen offers superior graphics, endless color customization, and multiple layouts, including a cool new Fox Body mode that mimics the iconic third-generation model. New gauges, including 1968 first generation ones, can be downloaded for no-cost. Sadly, this over-the-air update was not available on our tester.

If you want a base Mustang Convertible with cloth and vinyl seats, Ford only offers it on the EcoBoost engine with Black Onyx or Space Gray. Opting for the EcoBoost Premium brings ActiveX seats or leather as part of a $3,000 Premium High (201A) Package. These seats can be finished in Black Onyx, Space Gray, Emberglo (brown), and Carmine Red. The GT Premium comes with standard leather seats, adding a Navy Pier (blue) interior on the California Special Package. Overall, the cabin feels like a mixed bag with premium and cheaper materials. Remember, the Mustang is a rental-car-lot staple, so no amount of luxury features will make this car feel fully premium. Some touchpoints – like the heated and ventilated leather seats and heated steering wheel – feel great, while the dash and center console have an air of cheapness to them. After decades of success, Mustang owners should be used to taking the good with the bad in what is essentially a performance bargain.

Practicality: Useful-Ish

Opting for the Mustang Convertible only marginally hurts practicality. The trunk shrinks from 13.3 to 10.3 cubic feet, and it remains at that number with the roof up or down. You will also lose the coupe’s ability to fold the rear seats, limiting your ability to carry longer items in the trunk.

The space in the back is tight with only 29.2 inches of legroom and 35.7 inches of headroom, though these numbers are actually slightly higher than the Mustang Fastback. If you want the most practical Ford with a horse on it, the Mustang Mach-E offers four doors and a spacious SUV body style.

Performance: Whoosh Or Roar

Power in the Mustang comes from one of two sources: an EcoBoost four-cylinder or a Coyote V8. The former acts as the base powertrain, sending 315 horsepower and 350 pound-feet of torque (on 93 octane fuel) to the rear wheels exclusively through a 10-speed automatic transmission. Ford will no longer offer a manual transmission with a turbocharged four-cylinder. In coupe form, the EcoBoost hits 60 mph in 4.9 seconds, but you can expect the heavier convertible to be a bit slower. All Mustang GT variants, like our tester, get a 5.0-liter naturally aspirated V8 that delivers 480 hp and 418 lb-ft of torque. 486 hp can be acheived on all GT models that have the Active Valve dual exhaust equipped.

This engine is significantly quicker than the EcoBoost, hitting 60 mph in under four seconds (in coupe form, the convertible is a smidge slower), though it comes with a substantial penalty in efficiency. The EcoBoost is rated at 22/33/26 MPG city/highway/combined, while the GT drops to 16/24/19 with the automatic (15/23/18 with a manual). For people who would happily trade fuel economy for noise, that’s why the V8 exists.

Driving Impressions: Rumble Machine

From the second you press the start button, the Mustang GT rumbles to life with its glorious V8 engine. There are several exhaust modes ranging from loud to deafening, though a quiet mode does mute the sound a bit if you are trying not to wake the neighborhood. Ford made some major improvements to the 10-speed automatic transmission, making it shift smoother under normal conditions while keeping it aggressive during spirited driving.

Along with the exhaust modes come several drive modes, including Normal, Sport, Track, Slipper, Drag, and Custom, all of which drastically impact elements such as the steering, which can also be customized with a button on the steering wheel. Even in the heaviest mode, the steering isn’t super precise, but it delivers enough feedback to keep the experience entertaining.

The standard suspension keeps the ride comfortable, but we’d opt for the $1,750 MagneRide Dampening system, which also requires the GT Performance Package. That adds important performance upgrades, such as Brembo brakes and a limited-slip differential. Without these features, the Mustang GT is an excellent cruiser, but less-than-ideal as a track weapon. Perhaps buyers looking for the most hardcore Stang would opt for the Fastback, not the heavier drop top.

Pricing: The Last Affordable Convertible

The Ford Mustang is the last affordable four-seat convertible left on sale in the US; everything else it competes against wears a luxury badge and has a premium price. You can get an EcoBoost Convertible starting at $40,020 (which excludes the $1,595 destination fee). That’s a not-insignificant $8,100 more than the entry EcoBoost Fastback. Upgrading to the EcoBoost Premium Convertible adds more luxury for $42,945. If you want the V8 engine, the GT Premium Convertible is your only option, priced at $52,880.

Done up like our tester with the GT Performance Package ($5,295), GT Premium High (401A) Equipment Group ($2,900), and other options, you can expect to spend a little over $65,000. That might sound expensive for a Mustang, but keep in mind it would take $95,300 to get this much power from a BMW M4 Convertible and $82,600 for a less powerful Mercedes-AMG CLE 53 Cabriolet.

While we wish Ford would have kept a few more physical buttons, other improvements to the Mustang make it a stellar product that should please muscle car diehards. It sounds great, goes like a bullet, and drives well enough to impress even the staunchest BMW fan. With zero competition, the Mustang Convertible now lives in a stable of one.