The base 3.7 litre V6 that will be offered in the USA (but not in Australia) is the least powerful, with 223kW and 390Nm, while the 2.3 litre EcoBoost turbo four-cylinder produces 231kW and a very healthy 434Nm of torque.
But it's the Mustang GT's 5.0 litre V8 that's the real headline-grabber, with 324kW of power and 542Nm of torque.
Weight has increased slightly over the previous generation though, with the extra technology, safety equipment and the weight of the new independent rear suspension all adding a few kilos.
For the Mustang GT, that means an increase in weight of 39kg in manual form, and 24kg as an automatic. Total kerb weight for the GT is a relatively porky 1680kg, while weight distribution is 53 percent front, 47 percent rear.
The 1602kg Mustang EcoBoost is not only lighter, but better balanced thanks to a front-rear weight distribution of 52:48.
Weight figures for the Mustang convertible have yet to be released.
Ford has also announced details of the Mustang's various brake packages, with three different sets to be offered.
The base braking system consists of 320mm rotors all around clamped by two-piston sliding calipers on the front with single-piston calipers at the rear, which will be offered on the base V6 and EcoBoost.
Standard for the GT will be 352mm front rotors and 330mm rear rotors. Front calipers get upgraded to fixed four-piston units, while a single-piston caliper remains up the rear. The GT's brake package will also be available as part of a Performance Package upgrade for the EcoBoost.
The GT Performance Package steps things up another notch, bringing huge 380mm rotors and six-piston Brembo calipers to the front wheels.
Other Performance Package features for the EcoBoost and GT include a stiffer rear swaybar, strut tower braces, firmer springs, dampers and suspension bushings, revised calibration for the power steering, ABS and stability control and a beefed-up cooling system.
The GT also gets a front chin spoiler with integrated brake cooling ducts, as well as a dedicated "burnout mode" for its traction control system.
Differential ratios are also changed to aid acceleration, however Ford has yet to announce performance figures for the 2015 Mustang range. Expect to hear more as the Mustang draws closer to its North American launch date.