First 2024 Ford Mustang sells for over $560k

The first 2024 Ford Mustang GT has sold at auction for a whopping $US565,000 ($NZ872,394), with the proceeds going to charity.

Although production of the seventh-generation muscle car has yet to begin, Ford decided to auction off the first build slot along with the first corresponding vehicle identification number (VIN 001) at the Barrett-Jackson auction in the United States.

The winning bid came to $US490,000 ($NZ757,888) with additional $US50,000 ($NZ77,336) and $US25,000 ($NZ38,680) donations from two other parties, bringing the total to $US565,000 ($NZ872,394) of which will be donated to juvenile type 1 diabetes research through JDRF.

When the Mustang does go into production later this year, the winning bidder will have the option to specify their car in a choice of 11 colours, multiple wheel designs, and more.

The owner will also have the choice of a 10-speed automatic transmission or a six-speed manual.

As for New Zealand buyers, they’ll have to wait until later this year before they can get their hands on the seventh-generation 2024 Ford Mustang.