In an attempt to lure car buyers away from rivals like the Chevrolet Camaro and the Volkswagen New Beetle, Ford Motors will next month roll out its new 2011 Mustang – a mass-market car that boasts two new engine forms: the 305 horsepower V-6 and the 412 horsepower V-8 models.

The base 3.7-liter new V-6 not only beats Chevrolet’s hot-selling Camaro in terms of horsepower, but also in fuel economy - Mustang’s 31 miles per gallon (mpg) on highways is 2 mpg more than Camaro’s 29 mpg – as well as price; with the new Mustang costing $22,995, or $535 less than Camaro.

Noting that the new Mustang is “fast, fun and affordable,” Amy Marentic – Ford’s group marketing manager for cars and crossover vehicles – said that Mustang looks cool enough to even appeal the younger buyers who are more about function rather than form.

Meanwhile, the new 5-0 liter V-8, which will essentially appeal the hardcore muscle car fans, brings back Ford’s famous 5.0 insignia, with high-tech fuel efficiency. Priced at $30,495 - as against the Camaro’s $31,795 – the new Mustang V-8-powered, 412 horsepower GT model can manage a decent 26 mpg on highways.

Both the forthcoming models of the 2011 Mustang will be available with a six-speed manual or automatic transmission; and promise to deliver quick acceleration, sharp handling, and an excellent driving character.