Photos: Ford Motor Company

As the sun sets on Mustang’s 2011 model year, we can reflect on the tumultuous impact it has had on the pony car market. By dropping an extra 100 horsepower or so into both the V6 coupe and the Mustang GT, without any significant bump in prices, Ford tilted the performance/value equation seriously in their favor.

Of course, the really big news for 2012 is the upcoming Boss 302 limited edition that promises to be a landmark in the Mustang development timeline. Demand for this model will surely outstrip production by several hundred per cent, given the recently released pricing for it – $40995 versus $30495 currently for the 2011 Mustang GT.

Now, while the market is coming back and Mustang sales are improving in the face of equally inspired competition from GM and Chrysler, the fact remains that sales are still a couple of thousand units a month short of what they were before the economic meltdown. Let’s take a look and see what is in store for 2012 Mustang customers.

Under the category of exterior colors, Sterling Gray Metallic is no longer available and something called Lava Red Metallic comes onboard. Supplementing Race Red and the Red Candy Metallic Clearcoat choices, I’d expect Lava Red to be a darker hue, perhaps something like Redfire was in the past.

Those of you planning on scoring a Boss 302 might want to know that Competition Orange will be available on it. Competition Orange first showed up in 2004 and is back again. The full range of colors for the Boss includes; Competition Orange, Performance White, Kona Blue Metallic, Yellow Blaze Metallic Tri-coat, Race Red, Black and Ingot Silver Metallic.

When it comes to interior colors, two changes are coming. The Lava Red option is an otherwise black interior, accented with Lava Red door and leather seat inserts. The Stone interior is going more two-tone in nature, with door trim, headliner, sill plates, package tray and A-pillar trim changing from stone to charcoal.

Elsewhere inside, the sun visors will have illuminated vanity mirrors, as well as multi-purpose storage… whatever that means. Premium models will ship with a universal garage door opener. A new Reverse Sensing System & Security Package provides the Reverse Sensing System, as well as the Active Anti-Theft System and a Wheel Locking Kit.

From a functional perspective, the Electric Power Assist Steering (EPAS) will come with three selectable settings – comfort, normal and sport – which sounds like a worthwhile change.

By themselves, these changes may do little to distinguish the 2012 model from its predecessor. We’ll reserve judgement until 2012 pricing is available. Still, there is little doubt that this latest Mustang continues to bring a lot to the party. And then, there’s the Boss…