It has been 40 years since Ford last sold a brand-new Mustang in the Land Down Under, but the Aussies have not forgotten their love or lust for the original pony car. Many have taken to importing American classics, though many others preferred the locally-made Ford Falcon. Alas, with Falcon production set to end with the closure of Ford’s Australian plants, there is a big performance hole in Ford Australia’s lineup.

That hole will be filled with the 2015 Ford Mustang, with Ford execs making the official announcement reports Motoring.com.au. The Mustang will arrive in Oz sometime in 2015, and will sport a starting price of around $50,000 for the four-cylinder turbo version. Yikes! Rumors are swirling that the V-6 and 5.0 versions will also be available. Also interesting as stated in the report is that the EcoBoost four-cylinder will be 2.3 liters.

Lose the Falcon, gain the Mustang; is it a fair trade for Oz?

Of course this move is about more than just giving the Aussies a fast, fun car. Ford has moved to align its entire global lineup, building cars on similar platforms and trying to keep vehicles on different continents as similar as possible. While the successful Ford Focus and Fiesta have already done this, the Mustang has the unique challenge of tending to different performance tastes of America, Europe, and Australia.

But without the Falcon, Ford’s Aussie fans will only have the right-hand drive Mustang to get their performance kick. The 2015 Mustang will also be sold in Europe, again likely powered by a four-cylinder EcoBoost engine rather than the V6 or V8 America currently has. It’s certainly a bittersweet pill for Australia, which loses its own iconic muscle car in exchange for the Mustang.

There had been hope that a next-gen Falcon would debut alongside the Mustang, perhaps utilizing the Mustang’s new architecture for a concept like the 21st century Falcon Interceptor Concept. As it stands though, the Falcon will share suspension and engine vibration reduction technology with the next Mustang, so parts of the Falcon will live on.

Still, the One Ford plan makes it obvious that area-specific cars are not in the future plans of the Blue Oval. The Mustang, once America’s muscle car, will now enter the world stage. Let’s hope it’s ready for a global debut.