A leaked spec list, courtesy of the Mustang6g forum, reveals that the 2018 Ford Mustang will be faster and more economical than its predecessor.

Available in both coupé and convertible forms, the car’s new 10-speed automatic gearbox can be controlled via paddle shifters and is claimed to improve shift times over its predecessor, as well as offer different settings for the three drive modes.

The new Mustang will produce more power from its 5.0-litre V8 engine and there could also be gains for the 2.3-litre Ecoboost version, if the 'to be determined' power outputs on the leaked brochure are anything to go by. The current 2.3-litre model produces 316hp, while the V8 has 416hp. Ford also claims that better fuel economy is achieved, while tweaks to the clutch of the V8’s six-speed manual gearbox are set to increase torque.

In addition to tweaked front and rear styling – which Ford claims offer aerodynamic benefits – new, all-LED headlight units and three new paint colours, the Mustang gets a digital display that replaces the outgoing model's traditional dials. The carmaker showed the same function in the GT supercar earlier this year, with a similar level of personalisation features on the Mustang.

Under the skin, Ford has upgraded the shock absorbers, claiming an improvement in ride quality, and has also fitted a new cross-axis joint and tweaked the stabiliser bars – all of which are claimed to improve handling. Buyers who pick the Mustang Performance Package will now benefit from Ford’s Magneride adaptive dampers too. Exhaust note can be modified by adding the active valve exhaust option.

After the outgoing Mustang achieved a two-star Euro NCAP rating, Ford is now including pre-collision systems and pedestrian detection on the new Mustang. Standard kit now also includes a memory function on the car’s computer system, which saves preferred drive settings, such as tweaks made to the steering and suspension.

Ford has also extended its Fordpass smartphone app to be compatible on the Mustang, so owners can unlock, lock, find and start their car using their phone.

The facelifted Mustang is due to launch in international markets in the beginning of 2018.