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The headlights and taillights are nearly completely covered, but it looks like they retain the current design. This car is wearing Brembo brakes, but it doesn't appear to have particularly aggressive tires or aero, meaning this most likely is an everyday Mustang GT. The rear exhaust does have some emissions equipment attached. This could mean updates to the engine and maybe with a bit more power. We're already expecting the rumored 10-speed automatic that's being developed with GM.
They are a lot more secretive than they used to be. I was born and raised in Detroit. I remember driving on the freeway and saw a car I never seen before. A year later the car I saw was announced as the Mercury LN7. Also a neighbor was an engineer at Chrysler and he would drive home cars that were in late development. He would call me over to check them out.
It probably won't happen, but my one wish is that they would bring back some kind of glass roof option. Whether it's a fixed pane like in the 2009-14, glass T-tops, or a panoramic glass sunroof like the Lincoln MKZ, any of those would be nice.
I'd definitely want to wait for the '18 if I was looking for a car now.
If 12->13 is any indication, it should look really good, but not a massive change.