What is it?
A revised 2010 version of the range-topping retro Mustang GT500.
Externally the GT500 gets a few minor tweaks to the classic Mustang shape, most notably an even larger bonnet bulge, larger wheels and twin racing stripes.
The theme continues inside (there are stripes on the seats and the gearlever), and elsewhere the cabin has been improved with better materials and a streamlined design.
Mechanically the GT500 uses the same 5.4-litre supercharged V8 as before, but with power increased to 540bhp and torque to 510lb ft. That matches the specification of the limited-edition GT500KR (King of the Road).
While Ford’s Special Vehicle Team (SVT) has also honed the suspension settings, this hasn’t extended to replacing the Mustang’s archaic live axle rear suspension.
What’s it like?
Rudimentary but entertaining. On the occasions when it’s possible to transmit the power to the rear wheels the GT500 is massively fast – perhaps not 540bhp fast, but certainly quick enough.
It also sounds sensational. Whereas a VXR8 Bathurst is all supercharger whine, the GT500 is more about the V8 warble. And when you back off the throttle it pops gently on the overrun. The trouble is, even with the assistance of a two-stage ESP system, the GT500 will break traction incredibly easily - although, to an extent, that adds to the sense of occasion.