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The new sixth generation Ford Mustang will be unveiled live tonight in Sydney, along with a few other major cities – Shanghai, Barcelona, Dearborn, LA and New York.

The new global Mustang is codenamed the S550 will go on sale in Q4 2014 as a ‘2015 model year’ car, a continuation of the legendary nameplate that first started in 1964. We call the new Mustang a global car because that’s exactly what it is – the new Mustang will be Ford’s attempt to bring its Americana icon out into the world market, in both left hand drive and right hand drive form. The convertible model will also continue to be available with this generation.

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The logo of the stallion running west on the front grill will allow you to easily identify it as a Mustang, and it still remains some of its retro-futuristic looks, though it seems to learn slightly towards the futuristic side of things. The side profile has a B pillar that hides behind the door glass in order not to interrupt the silhouette.

The LED tail lamps still have a triple vertical bar type of design, and they still light up sequentially to indicate a turn signal, but this behaviour will be restricted to US market cars. The triple bar design is repeated in the headlamps are daytime running lights.

Ford originally wanted to develop the new Mustang on the existing fifth generation platform, but as development progressed things clearly wasn’t quite working out. Development targets weren’t being achieved, and the entire project was even said to have been rebooted once. It has the same wheelbase as the current model but is 38mm lower and 40mm wider.

The sixth generation sits on a new platform that for the first time features independent rear suspension for a regular Mustang, ending a 50 year tradition of live axles for the pony. New aluminium rear knuckles help reduce unsprung mass for improved ride and handling.

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SVT Cobra ‘stangs did come with independent rear suspension in the late 90s to early 2000s. Its global aspirations haven’t shrunk the Mustang to fit onto the narrow roads of Europe – it’s still as big and muscular as ever.

At the front, a new perimeter subframe helps to stiffen the front structure while reducing mass, providing a strong foundation for more predictable wheel control that benefits handling, steering and ride. The new double ball-joint front MacPherson strut system also enables the use of large, powerful brakes.

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Three engines are available. The baseline engine is a 3.7 litre V6 making about 300 horsepower. Next up is a 2.3 litre turbocharged direct injection Ecoboost four cylinder making 309 PS and 410 Nm of torque, which will be more than the normally aspirated V6.

The top of the line is a more traditional muscle car 5.0 litre V8 producing 426 PS and 529 Nm of torque. All engines put power to the rear wheels either through a 6-speed manual or 6-speed auto.

Ford Reveals New Mustang for Europe; Delivers Sleek Design, Adva

The interior sports the latest Ford MyTouch in car infotainment system. It retains a retro-looking steering wheel and a traditional double binnacle design for the instrument cluster. Other features will include a push start system, paddle shifters for the automatic, and BLIS blind spot monitoring. There is a Selectable Drive Mode feature which allows the driver to tap the toggle switches on the console to quickly adjust steering effort, engine response, and transmission and electronic stability control settings.

Only 10% of Mustang sales are expected to come from outside of the USA, so although it has global aspirations, most of its sales is expected to be America-centric.

UPDATE: We’ve added live photos to the gallery.