BLUE Oval fans mourning the Falcon's impending death can rejoice in the likely arrival of a true muscle car replacement.
While yet to be confirmed by the car maker, industry sources say the Ford Mustang will be launched Down Under at about the same time as the final Falcon rolls off the Broadmeadows production line in 2016.
Ford is expected to make the official announcement next month.
It is expected an entry-level Mustang with a twin-turbo V6 will start from about $40,000, while the range-topping V8 will be in the vicinity of $60,000.
Meanwhile, it is also forecast the Ford Performance Vehicles division will be killed off as early as next year.
Insiders have revealed FPV will be phased out but the XR8 badging will be resurrected for those who still want bent eight power - using the current GT's 335kW supercharged powerplant.
FPV currently produces five Falcon performance variants in Australia: the GT, GT-P, GS and F6 sedans, and a GS ute.