Check out the new 2015 Ford Mustang GT. A V8 that 13,000 Aussies have put their name down for pre-orders.

THE new Ford Mustang will cost the same as a Falcon when it goes on sale next year — and there are already 13,000 Australians queuing to buy the American icon.

A top secret dealer bulletin obtained by News Corp says the Mustang will cost between $50,000 and $70,000 in Australia, making it significantly cheaper than the outgoing Falcon GT which cost $80,000, and in line with the price for the last series of V8-powered Falcon XR8 sedans to be built at Broadmeadows.

The Mustang is due to fill the V8 performance-car void in Ford showrooms once the Falcon goes out of production in October 2016, but in a shock to diehard fans a four-cylinder version will also be available.

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It’s not the first time the Mustang has had a four-cylinder engine — an economy version was sold in the US from 1978 to 1993 — but it is the first time a four-cylinder Mustang will be sold in Australia.

Before fans scoff, Ford points out that the new generation turbocharged four-cylinder engine has almost as much power as the old V8 and sips a fraction of the fuel.

Ford reintroduced the four-cylinder option this time around to appeal to fuel misers and to meet stringent fuel economy targets in Europe.

At the other end of the performance scale, the V8 version of the new Ford Mustang is the first mass-production car in the world to come with a “burnout” button.

Press a button and the front brakes will lock but the rear brakes will not. Floor the throttle and the tyres quickly smoke up.

Ford says the system is designed to be used at off-street drag racing meetings, a popular hobby for many Mustang owners in the US.

This is the first time in the muscle car’s 50-year history that the Mustang will be made in right-hand-drive on a Ford production line.

The Mustangs sold in Australia in the 1960s and early 2000s were made in left-hand-drive and then converted locally.

The latest models will be made in Ford’s Mustang factory in Flat Rock, Michigan.

The Mustang is already on sale in the US and is due in Australian showrooms — and 25 other right-hand-drive countries, including Japan, the UK and South Africa — by the middle of next year.

In Australia, the Mustang will be sold in coupe and convertible body styles with a choice of four-cylinder or V8 power.

Fast facts: Ford Mustang

Price: $50,000 to $70,000

Engine: 5.0-litre V8 or 2.3-litre four-cylinder turbo

Power: 325kW/540Nm (V8), 230kW/430Nm (four-cylinder)

Fuel economy: 12.3L/100km (V8), 9.0L/100km (four-cylinder)

On sale: In Australia 2015

*All power and consumption figures are approximate and based on US testing standards. Australian figures may vary.

This reporter is on Twitter: @JoshuaDowling