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Originally Posted by The_Blur
It really is comparing apples to apples.  The problem is that GM's apples are better. They're faster, and they're more advanced (standard features, like IRS).
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The Camaro will be faster, for about a year. You will also pay for those extra apples. I am still unconvinced that the Camaro's relatively premium pricing wont hurt it.
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Originally Posted by Blur
I also feel that the new Mustang is not much of an improvement and that some changes are actually bad changes, like changing the nice tail lights.
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I appreciate your opinion, but in the end we don't yet know how universal that opinion will be. To my eye, completely naked, the new Mustang looks a lot better, sleeker, and meaner than the old car did. And in my experience most folks feel the new interior is a massive improvement. We'll see how universal that opinion is in short order as well, but I think the Mustang interior is easily the best looking of the three and the same goes for the interior.
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Originally Posted by Blur
I agree that the GTO didn't do as well as the Mustang for a lot of reasons. What GM has working for it now is the idea that the Mustang, has been driving around the streets for a while. The new one isn't really different enough to call it an update, so let's call it a lazy facelift.  The Camaro is new. The GTO was new when the Mustang was new, so it was strategically a bad time to release a new car. It stole a little of the Mustang's thunder, but the Camaro wills steal it all because it is being released against a car that is already on the streets with too few changes to make it as revolutionary as an altogether new car.
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If I had to venture a guess I would argue that your take on all of this is pretty similar to what GM was and is thinking. Ultimately I think the changes to the Mustang's styling will prove more sweeping than some currently think. The only sticking point IMO is the holdover engine, and that will only be an issue for one model year and, of course, with the lower power rating comes a noticeably lower sticker price.