"More than 9 million customers have made Mustang one of the world’s most beloved automotive and cultural icons," said Ken Czubay, Ford's vice president of U.S. Sales and Marketing. "Making sure this modern legend lives up to their expectations has been our driving force to create the best Mustang ever. Not only is this the best Mustang ever, it’s also the best bang for the buck for our customers."

Newly released priding for the 2010 Mustang shows that contenders Chevy Camaro and Dodge Challenger sport base sticker prices ranging from $1,000 to $2,600 more than Mustang.

An affordable starting price of $20,995 (excluding destination and delivery) for the V-6 coupe is announced, along with $25,995 for the convertible. The V-8 powered GT coupe base price is $27,995; the GT convertible starts at $32,995. The Shelby GT500 Coupe has a MSRP of $46,325, while the GT500 Convertible starts at $51,225.

For a no-matter-the-weather 'open' experience, Mustang also offers a factory-installed glass roof option for $1,995 on the V-6 and GT models.

The 2010 Mustang is jam-packed with unprecedented content, yet it weighs approximately 300 pounds less than the competing Camaro and Challenger. This leaner curb weight gives Mustang a competitive leg up in agility and contributes significantly to Mustang’s unsurpassed 26 mpg.

Mustang’s available engines, including the GT’s beefy 4.6-liter V-8, also are designed to use regular 87-octane fuel, allowing customers to save even more money at the pump, without sacrificing performance. Both Camaro and Challenger recommend premium grade gasoline.

Mustang also makes fill-ups more hassle-free with its standard Easy Fuel Capless Fuel Fuller system, a segment exclusive.

For Mustang lovers who prefer the highest performance, the 2010 Shelby GT500 offers a 5.4-liter supercharged four-valve V-8 engine that pumps out 540 horsepower and 510 ft.-lbs. of torque. Thanks in part to a cold-air intake system, lower-restriction exhaust, new engine calibration and revised gearing, the 2010 Shelby GT500 delivers more power while also increasing fuel efficiency.

The GT500 improves its fuel economy by 2 mpg on the highway for a rating of 14 mpg in city driving and 22 mpg on the highway. Power is sent to the ground through a short-shift six-speed manual transmission with a limited-slip 3.55 rear axle gear ratio.

Both the 2010 Mustang and Shelby GT500 arrive in dealerships this spring.