While on the surface, Ford has big plans for revitalizing sales in Europe, there seems to be growing disquiet among the management about when the Old World will perk up economically. This could have dire effects for the design side of Ford, as bold-but-dangerous projects are passed over in favor of a surefire hit.

This may be exactly what has Ford reportedly putting the kibosh on a proposed new coupe for Europe. Inside Line reports that Alan Mulally himself made the call or put the project on hold, even as the appeal of the Mustang to European sensibilities is itself called into question.

If you follow economic news at all, you know that Europe is in a bit of economic freefall. Auto sales have been especially hard hit, with overcapacity rampant in countries where most people simply can’t afford overly-taxed American imports. With the next Mustang sure to boast big engines and a healthy thirst, on top of a highly-tarriffed sticker price, some wonder if Mustang sales are worth the effort of making it available in Europe.

There were plans for a smaller coupe, positioned below the Mustang in price, that would better meet Europe’s needs. But Mulally cancelled that project, saying that Europe probably isn’t looking for another specialized sports car, what with the Mustang on its way to dealerships in the year 2014.

Still, we can’t help but wonder what might have been. Mustang fans though we may be, we wouldn’t be opposed to a smaller, lighter, and cheaper rear-drive coupe with some of Ford’s awesome EcoBoost engines under the hood.