Rights to First 2024 Ford Mustang Sold for Three-Quarter Million

Following its debut last September, the all-new, seventh-generation 2024 Ford Mustang will go on sale this summer. How much will it cost? Ford hasn’t said yet, but we can tell you that the rights to the first customer unit were just sold for a whole lot of money.

At the Barrett-Jackson auction in Scottsdale, Arizona this past weekend, someone agreed to pay $565,000 USD for the car, or the equivalent of $758,000 CAD at the current exchange rate.  

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

Photo: Barrett-Jackson

While production has yet to begin, we know for sure that the first-ever copy of the new 2024 Mustang will be a GT model. The lucky bidder will be able to configure their car to their liking, including choosing between the six-speed manual gearbox and the 10-speed automatic.

As we reported in December, the 5.0-litre Coyote V8 now delivers 480 hp and 415 lb-ft. of torque (with premium gas). When fitted with the optional active-valve performance exhaust system, the numbers increase to 486 hp and 418 lb-ft. of torque.

This naturally aspirated wonder also gets a segment-first, dual-intake and dual-throttle body induction system that’s matched with structural improvements and an upgraded oil pan.

And remember, since the Shelby GT500 is taking a break, the most powerful Mustang with eight cylinders will be the new Mustang Dark Horse. Powered by Ford Performance know-how, the Coyote engine is upgraded even further to produce 500 hp.

Photo: Barrett-Jackson

At the same Barrett-Jackson auction in Arizona, another customer paid $500,000 USD for the rights to the first 2024 GMC Hummer EV SUV, which will enter production soon. That’s only a fifth of the winning bid for the first 2022 Hummer EV pickup back in 2021.

A one-off Ferrari F40 in Nardo Gray was sold for $2.75 million USD, about the same as the pair of Ford GT Carbon Series supercars (combined) that were also up for bid during the weekend.

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