Ford today unveiled the Mustang Giugiaro concept — a one-off design study by Fabrizio Giugiaro, styling director of Italdesign. Ford officials aren't saying anything, but there's speculation in the automotive that Giugiaro concept might preview some aspects of the next-generation 'Stang.

Visually, the Mustang by Giugiaro appears more compact than the production car, thanks to a reduction of the rear overhang and a signature Giugiaro “trick” of tapering the angles on the car to the limit of its mechanical outlines. The vibrant orange concept is wider than the production version. The Giugiaros added 30 millimeters to the front, gradually expanding the width by a full 80 millimeters toward the rear.

The 500 horsepower car features a single curved glass panel that bridges the windshield and rear window, serving as the concept’s roof. Produced by Solutia of Detroit, the panel is made from a special type of crystal that filters out 100 percent of UVA rays while providing unfettered vista views. The car's doors open vertically, with hinges at the base of the upright A-pillar.

The Italian culture is great for ancient history, spectacular wines and soccer champions. Oh, and a populace that seems impeccably dressed. Yeah, the locals know how to drape a shape in high style to accentuate—and hide—what the body has to offer.

As the Mustang is arguably one of the hottest bodies in the world, it was the perfect palette to begin with, said Italdesign styling director Fabrizio Giugiaro. “When we saw the new Mustang, we knew two things: It was the best we’d seen since the original, and we had to get our hands on one.”

The Mustang by Giugiaro concept that you see on these pages and in greater detail at www.autoweek.com made its Los Angeles show debut Nov. 28, but it is by no means the first time it saw sunny California climes. A year ago last August, tucked in the driveway of a private home along Carmel’s famous 17-Mile Drive, Ford design chief J Mays, along with Giugiaro, gave the world a sneak peek. Assembled guests were sworn to secrecy (partially because the car was in its infancy): Do not utter a word of the project.

It looked like a complete car, but it was nowhere near. It was, in fact, a styling buck created by Giugiaro with some Ford guidance, and it came together in a mere four months. Though thrilled with the execution, because of Ford’s financial constraints, the project stalled. All parties had hopes it would debut at the Geneva show in March, but that didn’t happen. Neither was it shown at Paris in September. In the car show life, that is an eternity.

Yet in that eternity, something did change—and that was the Ford regime.

Not that there is more money to throw at projects like this, but there’s unwavering support for product development. For the relaunched L.A. auto show, one of the sexiest, most muscular Mustangs ever was finally presented to the world. It was the Italian design firm’s first-ever reveal in Los Angeles.“This design study reinforces the global appeal of Mustang, yet it’s right at home in L.A.—America’s most enthusiastic performance and muscle car market,” Mays said. It didn’t hurt that Italdesign founder and design icon Giorgetto Giugiaro offered to work on the Mustang alongside son Fabrizio. Design aficionados remember that the senior Giugiaro created the 1965 Bertone Mustang, which was the first European-styled car to make an international debut in America following the end of World War II.

This second Mustang concept was the son’s model to clothe. Visually, the Mustang by Giugiaro seems more compact than the production car, thanks to reducing its rear overhang as well as a Giugiaro design signature of tapering angles. The Mustang by Giugiaro—an ungainly name for a car that is anything but—is wider; designers added nearly 1.2 inches to the front, gradually expanding the width by 3.1 inches toward the rear, which is typical in Italian car design. With its long hood and a barely visible trunk, it appears almost fastback in profile.

The Italian muscle car doesn’t lose its swagger so much as it institutes its own sway.

According to the younger Giugiaro, details throughout add to the Mustang lore. Among those details:

A dramatic instrument panel sweeps the width of the car. Dark brown horsehide-covered headrests with horse logo accents are fitted on seats with cushions and backrests that carry dark brown mottled horse- hides. A single curved glass panel bridges windshield and rear window as the concept’s roof. The Mustang’s doors hinge at the base of an upright A-pillar; the doors open vertically at the touch of a button.

Bespoke taillights are three separate elements (as found on the original 1964 1/2 Mustang), reinterpreted as an arrow shape that links louvered panels at the rear side windows. There is also a visible curl that sweeps into the crest of the concept’s carbon fiber fenders. Call this Italian frivolity and whimsy; it is meant to hint at tail fins that defined American cars of the ’50s.

As its 20-inch wheels fitted with 275/40 front tires and 315/35 rear tires suggest, the Mustang by Giugiaro is more than just design—this pony has poke. Its powertrain and chassis come from Ford Racing, which added a twin-screw supercharger, fuel injectors from the GT and one-of-a-kind calibration to the engine. It also breathes more freely, thanks to a Ford Racing muffler and X-pipe. The result is an estimated 500 horsepower.

The chassis tuning includes changing shocks, lowering springs and adding anti-roll bars. The result is a 1.5-inch lower stance than a Mustang GT, with quicker steering.

“[It] drives as good as it looks,” said the younger Giugiaro. “After taking it to the limits on streets outside of Turin, I can honestly say this car was well worth the 30,000 hours of blood, sweat and tears that we invested to create a modern performance classic.”