Pricing has gone up substantially on the Mustang, with the introduction of the facelifted 2010 model.

The price of a new Mustang will increase by about $1000 when it goes on sale this year. A facelifted 2010 Ford Mustang V6 coupe will have the base price of $20,995, not including destination, delivery, tax, title, or licensing fees. Want to buy a new Mustang GT with the V8 engine? That will cost $1,200 more than the 2009 model year.

Also available from Ford is a Mustang V6 convertible, for $25,995, a V8 GT coupe for $27,995, and a GT convertible starting at $32,995. Ford also released pricing details for the new Shelby GT500 Coupe ($46,325), with the Shelby GT500 Convertible going for almost $5,000 more.

Standard equipment for the base V6 includes a five-speed manual transmission, stability control, anti-lock brakes, keyless entry, LED taillights and stop light, painted 17-inch aluminum wheels, an auxiliary audio input, and chrome accents on the instrument cluster. Four airbags also come standard.

An upgrade to the V6 Pony Package gets the customer 18-inch polished aluminum wheels, body color mirrors, a new grille, fog lamps, and some other detail elements. Heated seats, and a glass roof can also be purchased.

If you buy the 2010 Ford Musgang GT, you better be getting something more than just performance for the extra $8,000, right? Well, a different set of painted aluminum 18-inch wheels, fog lamps, rear spoiler, body color mirrors, and a post-crash emergency services system is about all you get. Several performance upgrades can be purchased as options, including better brakes, better stability control, a performance rear axle, and 19-inch wheels.

Strangely, Ford makes it a point to note that the "Convertible Top" is only available with the "Convertible Model." Interesting.

Engine plant size stays the same for both models, with base purchasers getting a 4.0-liter V6 that still produces 210 hp. Torque is likely kept at 240 ft-lb of torque. GT buyers will get a retuned 4.6-liter V8 that increases power output by 15 hp to 315 horsepower. Torque increases by 5 ft-lb to 325 pound-feet total.

The price increases are so large from the 2009 model year to the facelifted model, it makes you wonder if Ford set the prices arbitrarily high just to push out the old surplus. Although they claim to have a $1,000 to $2,600 lower price than the Challenger and Camaro, that is simply not the case. The '09 Challenger has an incentive to bring the price down to about $19,600 for the base model. Any Camaro is more expensive, but also with a significantly more powerful aluminum engine that is speculated to get better mileage.

Ford needs a good score right about now. We're betting dealer incentives and special financing becomes available on the 2010 Ford Mustang once they have cleared out 2009 MY, and the suckers who want to buy the new model before everyone else.

Gallery: 2010 Ford Mustang Pricing Starts at $20,995