Saleen has revealed the new 2011 S320 muscle car based on the 2011 Ford Mustang 5.0. Power is 425bhp and a convertible will also be available.

Saleen debuted the all-new S302 at the Carlisle Ford Nationals. The car is based on the 2011 Ford Mustang 5.0 and it uses the same engine. This is the hard top model, but convertibles will also be available.

From the V8 motor comes 317 kW (425 bhp / 431 PS) and peak torque of 536 Nm (395 lb-ft). Mated to it is a 6-speed manual gearbox driving the rear wheels with the help of a limited slip differential (LSD).

Other performance items include a Saleen Performance exhaust system and Racecraft suspension upgrades. Wheels are Saleen Speedstar seven-spoke chrome alloys riding on 20-inch Pirelli P Zero Rosso tyres.

The interior is decked with a piano black centre console, leather bucket seats with Ultrasuede inserts, new gauges and a leather-wrapped gear lever.

Expect to find the Saleen S302 on US showroom floors this summer. Pricing will be announced close to market launch.