The Ford Mustang will have hot hatches in its sights when it arrives in Australia later this year thanks to a starting price under $45,000.

The blue oval has revealed the full price list for the new coupe ahead of it hitting showrooms in December. And the headline number is $44,990 (plus on-road costs) the starting price for the 2.3-litre EcoBoost Fastback, with the automatic variant costing an additional $2500.

That price undercuts many hot hatches such as the Volkswagen Golf GTI Performance, Subaru WRX STI and Renault Megane RS265, putting the Mustang in the middle of the hot hatch market.

The EcoBoost's 2.3-litre four-cylinder engine produces 233kW and 432Nm, which far outperforms most of the hot hatches in its price range.

The V8-powered Mustang GT is also keenly priced at $54,990 for the manual and $56,490 for the six-speed automatic.

While the GT is more expensive than Ford's XR8 - which starts at $52,490 - it is still competitively priced against other six-cylinder, two-door sports coupes such as the Lexus RC350 (from $66,000), Nissan 370Z (from $56,930) and BMW M235i (from $79,930). It is also comfortably underneath V8-powered coupes such as the Lexus RC F which is priced from $133,500.

Ford already has 1200 firm orders for the Mustang and has also received interest from more than 15,000 potential customers and believes that more customers will flock to the new sports car after the announcement of its competitive pricing.

"With such sharp pricing, we're signaling that there's a new Ford performance car coming and we intend to grab our rightful share of enthusiasts who value style, technology, performance and the history that the Mustang name brings," says Graeme Whickman, Vice President Marketing, Sales and Service.

Ford Mustang

Both variants come with the option of either a six-speed manual or six-speed automatic transmission, electric power steering, 19-inch alloys, LED taillights, rain sensing wipers, sat-nav, reversing camera as well as Ford's new SYNC2 infotainment system which is accessible through an eight-inch monitor on the dash .

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Initial customers will also be able to option their cars with racing stripes ($650), black painted roof ($975), 19-inch premium wheels ($500) and prestige paint ($500).

2015 Ford Mustang pricing*

Ford Mustang EcoBoost

Fastback manual - $44,990

Fastback automatic - $47,490(auto)

Convertible (auto only) - $53,990

Ford Mustang GT

Fastback manual - $54,990

Fastback automatic $57,490

Convertible (auto only) $63,990

*All prices exclude on-road costs

2015 Ford Mustang specifications

Ecoboost

Engine: 2.3-litre four-cylinder turbo petrol

Power: 233kW at 5500rpm

Torque: 432Nm at 2500-4500rpm

Transmission: Six-speed manual or automatic, RWD

Consumption: 9.4L/100km

GT

Engine: 5.0-litre V8 petrol

Power: 303kW at 6500rpm

Torque: 525Nm at 4250rpm

Transmission: 6-speed man or auto, RWD

Fuel consumption: 12.3L/100km

The 2015 Ford Mustang GT will be priced from $54,990. The 2015 Ford Mustang GT will be priced from $54,990. Photo: Supplied The 2015 Ford Mustang GT will be priced from $54,990. Photo: Supplied