We expect a new Mustang from Ford every ten years or so, and we think we’ve gotten our first glimpse at the next generation.

Wrapped in camouflage front to back, this undercover coupe is currently referred to as the S650-- following the current S550 and previous S197 Mustangs. The S650 is expected to launch in the 2024 model year.

It appears to have thinner, sharper headlights upfront and a redesign of those signature tri-bar taillights in the back, carried by that familiar fastback profile. We can’t tell what engine it’s using, but we expect the S650 to offer some sort of V8. This spy shot shows a dual-tip exhaust-- different from the current GT’s standard quad-tip design, meaning this could be an EcoBoost 4-cylinder. There have also been rumors of a hybrid powerplant.

Needless to say, we’re excited about the next-gen Pony Car. And we'll have much more news on the all-new Ford Mustang coming up right here on MotorWeek!