The Ford Motor Company will have a new performance bargain on its hands if reports of the 2016 Ford Mustang Shelby GT350’s pricing prove accurate. When it goes on sale next year, the latest Mustang variant, which made its debut a fortnight ago at the 2014 Los Angeles Auto Show, will bring to the table a new 5.2-liter V-8 with a flat-plane crank, unique body modifications, magnetorheological suspension, a Torsen limited-slip differential, more than 500 horsepower and 400 pound-feet of torque, plus much, much more—including perhaps a very reasonable $52,995 price tag.

The pricing information was first reported by the website Horsepower Kings, citing a Blue Oval source. The website also reports that the car’s Tech Package, which adds things like power adjustable seats, premium audio and better infotainment options, will cost an additional $2,995.

But the story doesn’t end there. Ford is also expected to release a Track Package for the Mustang Shelby GT350 that will help fill the performance gap between the stock model and a hardcore Mustang Shelby GT350R rumored to be making its debut at the 2015 Detroit Auto Show in just over a month’s time. This Mustang Shelby GT350R will be the true rival to Chevrolet’s Camaro Z/28 and will likely be priced closer to Chevy’s $75k starting price; expect the car to feature many premium options such as carbon ceramic brakes, uprated wheels and tires, and some serious weight-saving mods.

Ford today unveiled the new Shelby® GT350R Mustang, the most track-ready road-going production Mustang ever built.

In 1965, Ford and Carroll Shelby developed a road-racing version of the popular Ford Mustang – the Shelby GT350 Competition model. Lighter, more powerful and with a highly developed suspension, it is one of the most iconic racing Mustangs ever produced.

Arriving later this year, the new Shelby GT350R has been designed and engineered in the same spirit, delivering never-before-seen track capability from a Mustang – thanks to innovations in aerodynamics, chassis engineering and light-weighting.

“The Shelby GT350R Mustang is a no-compromise car in the pursuit of maximum track capability,” said Raj Nair, Ford group vice president, Global Product Development. “It is a thoroughbred street car making use of technology and ingenuity to deliver performance few enthusiasts have ever experienced.”

The car features the first-ever production V8 from Ford with a flat-plane crankshaft – the most powerful naturally aspirated engine Ford has ever produced – plus a specially tuned suspension. It is fitted with revised spring rates and antiroll bars, lower ride height, unique track-tuned alignment settings, revised bushings and jounce bumpers, cross-axis ball joints in the front suspension, and revised calibration controlling the MagneRide dampers.

“The Shelby GT350R Mustang is a car with the nimbleness and power delivery you want on a road course,” said Nair. “This isn’t just about horsepower. The Shelby GT350R is an all-around balanced athlete – one that is extraordinarily precise and agile.”

Track technology for the street

Lightweight carbon fiber wheels are standard on Shelby GT350R, making Ford the first major automaker to introduce this innovative wheel technology as standard equipment.

Carbon fiber wheels have been offered on only a handful of exotic supercars and will benefit Shelby GT350R performance by shaving critical unsprung weight and reducing rolling inertia. The 19x11-inch front and 19x11.5-inch rear wheels provide approximately 13 pounds of unsprung weight reduction per wheel and offer higher levels of stiffness than equivalent aluminum wheels.

The lightweight wheels will be shod in Michelin’s top-shelf Pilot Sport Cup 2 high-performance tires with rubber compound and a construction unique to Shelby GT350R. This combination of incredibly stiff and light wheels with bespoke tires offers customers exceptional steering feel and levels of performance.

Weight reduction in pursuit of performance

Ford engineers delivered against aggressive targets for weight reduction on the Shelby GT350R. If a part did not make the car faster around a road course, it was considered for deletion.

Items removed include air conditioning, the stereo system, rear seats, trunk floorboard and carpet, backup camera and emergency tire sealer and inflator. Exhaust resonators also have been removed for weight savings with the benefit of creating a sharper exhaust tone.

Shelby GT350R is more than 130 pounds lighter than the Shelby GT350 Track Pack model, which has proven its durability in multiple 24-hour racetrack tests.

For customers seeking more comfort in their Shelby GT350R, Ford is offering an optional Electronics Package. Included is dual-zone air conditioning, 8-inch touch screen with navigation, seven-speaker audio system, turn signal mirrors and more.

Aggressive aerodynamics

Shelby GT350R has been optimized for aerodynamic excellence. Details including the hood vent for heat extraction and lift reduction, underbody belly pans front and rear, an aggressive diffuser, vented wheel wells and turbulence-reducing fender vents, wheel air curtains and side skirts all remain on Shelby GT350R, but the car’s downforce capability has been increased.

Revisions to the front splitter maximize downforce, while an all-new high-efficiency carbon fiber rear wing has been added in anticipation of competition. The wing moves the vehicle’s center of pressure rearward while improving downforce and lift balance – ideal for high-speed track work.

“Shelby GT350R’s highly efficient aerodynamics, innovative light-weighting and world-class chassis deliver a truly spectacular driving experience that makes you feel like a professional racing driver,” said Kerry Baldori, Ford Performance chief functional engineer.

World-class powertrain

The new 5.2-liter dual-overhead-cam V8 engine is the first-ever production V8 from Ford with a flat-plane crankshaft – an architecture typically found only in racing applications or exotic European sports cars.

Unlike traditional V8s, where the connecting rods are attached to the crankshaft at 90-degree intervals, this design evenly spaces all crank pins at 180-degree intervals to optimize high-speed engine breathing. It is the most powerful naturally aspirated production Ford engine ever, with more than 500 horsepower and more than 400 lb.-ft. of torque.

An air-to-oil engine oil cooler typically found only on race cars maintains engine temperatures under the most severe conditions, as does a standard cooler for the six-speed manual transmission.

A Ford-tuned limited-slip Torsen differential with 3.73 axle ratio is optimized for cornering grip and straight-line traction, while an electronically modulated rear-mounted air-to-oil differential cooler maintains ideal temperatures during track driving.

Dedicated R design details

Aside from carbon fiber wheels, larger front splitter and rear wing, Shelby GT350R features distinct design details. Exterior touches include red painted brake calipers, red pin striping at the edges of the optional over-the-top racing stripes and Shelby GT350R badging. Inside is high-contrast red stitching, Shelby GT350R badging and the D-shaped steering wheel fitted with a red center mark at the top.

New breed of performance

The limited-production Shelby GT350R will be available in the United States and Canada later this year, and is one of more than 12 new Ford Performance vehicles coming by 2020.

“This is the pinnacle of performance Mustangs today,” said Dave Pericak, director, Ford Performance. “The Shelby GT350R Mustang lays the groundwork for a story that will play out for years to come on the track and the street.”

According to Ford Motor Company, the forthcoming Shelby GT350R Mustang is as quick around a racetrack as the Porsche 911 GT3. Well, one track anyway. In independent testing conducted at Grattan Raceway in Belding, Michigan, the Ford Shelby GT350R Mustang posted a lap time equal to that of the Porsche 911 GT3 and one second faster than the Camaro Z/28. That should amp up the ongoing Mustang-Camaro wars. The ball's in your court, Chevrolet.

Ford has also shared additional information about the GT350 and GT350R, which are due later this year. Ford says the GT350R will weigh 3650 pounds, 130 less than a Mustang GT with the available Track Package. That's not too hard to understand, given that the GT350R will come without a back seat, a radio, or air conditioning, and it also gets carbon fiber wheels that will save 15 pounds per wheel. The GT350, on the other hand, does have a rear seat, a/c and a radio, though it doesn't get the carbon fiber wheels. Ford quotes a weight of 3760 pounds for the GT350. Both cars will be powered by a new flat-plane-crank 5.2-liter V-8 spinning out 526 horsepower and 429 pound-feet of torque. The engine will rev to 8250 rpm, making it the highest revving V-8 in Ford history.

Both the GT350 and GT350R will also come with five available drive modes: Normal, Sport, Track, Weather, and Drag. The modes will adjust the throttle mapping, steering effort, exhaust, ABS, traction control, stability control, and MagnaRide suspension to best match the desired type of driving. Launch Control will automatically be enabled in Drag mode and it will be available in the Normal, Sport and Track modes. MagneRide will be standard on the GT350R and optional on the GT350.

As reported last week, the GT350 will come standard with customizable shift lights. Using the LED warning lights from Ford's forward collision warning system, the Performance Shift Lights will come with Track, Tach, and Drag modes. In Track mode, the 18 individual LED lights will light up from the outside in, flashing as a single bar when it's time to shift. In Tach mode, the LEDs will light up from left to right. And in Drag Mode, they will all light up at once. Drivers can set the light intensity and rpm shift points.

The 2016 Ford Shelby GT350 Mustang will start at $49,995, including the $825 destination charge and $1300 gas-guzzler tax, while the GT350R will run $63,495 including the same charges.