The Ford Mustang is iconic when it comes to American muscle cars, but it is certainly not without equal. Historically there have been many cars in the same class and many of those same cars have made the transition into modern times. Most of these are priced close enough to leave money out as a factor. If you’re looking for a modern muscle car, you’re buying based on features.
The Chevrolet Camaro is a valid alternative to the Ford Mustang. Both are available in v6 and v8 engine sizes of comparable horsepower and track times. Fuel mileage is, of course, equally terrible in all options but if you’re worried about that then you should be shopping for a Toyota Prius.
Dodge brought the Challenger back in 2008, its third iteration since inception. These two cars are so close in standard features, performance and price point that the ultimate deciding factor might be style choice or brand preference. Notable is the Challenger’s larger frame and curb weight that makes it slightly less nimble on the quarter mile and has less fuel economy with the plus of being able to fit five passengers instead of the Mustang’s four.
There are import options in the same price range as the Mustang. Although not muscle cars per say, the Hyundai Genesis, and the Subaru BZR offer considerable bang for the buck. The smaller liter engines rely heavily on turbo chargers, tuning and low curb weight in order to give comparable performance, however the Mustang beats all when it comes to raw power. Still, they are options if one doesn’t mind straying from American automakers.