18 MPG combined isn’t going to win any awards, but that’s not the main focus of the 2023 Ford Mustang Convertible with the 5.0L V8. This car is made to deliver sun-drenched thrills and the visceral experience only a naturally aspirated V8 can provide. Fuel economy is a secondary concern for buyers drawn to its blend of performance and iconic design.

City and highway performance

The EPA estimates the Mustang V8 convertible achieves 15 MPG in the city and 23 MPG on the highway. The city figure reflects stop-and-go traffic, which this car isn’t particularly well-suited to. The strong V8 needs room to breathe. The highway figure is more respectable, especially when equipped with the 10-speed automatic transmission (S10) that allows for relaxed cruising and optimized engine speeds at higher velocities.

Annual fuel cost

The EPA estimates the annual fuel cost for the 2023 Ford Mustang Convertible 5.0L V8 at exactly $2,450. This figure is based on driving 15,000 miles per year, with 45% of those miles driven in the city and 55% on the highway, using the national average fuel prices at the time of calculation. Fluctuating gas prices will directly impact this estimate. If fuel prices increase, so will your yearly fuel bill. Conversely, if you drive fewer miles per year, your annual fuel cost will be lower.

Real-world expectations

Achieving the EPA’s numbers consistently in the real world requires optimism or at least discipline. Enthusiastic driving will significantly impact fuel consumption, as will factors like ambient temperature, tire pressure, and load. Aggressive acceleration and frequent top-down cruises will likely result in MPG figures slightly below the EPA estimates. A driver who prioritizes smooth acceleration and anticipates traffic flow may find that they can meet or even exceed the EPA’s 23 MPG highway estimate on longer journeys.

How it compares

Compared to other performance convertibles, the Mustang V8 lands in the middle of the pack for fuel economy. The Chevrolet Camaro Convertible with the 6.2L V8, for example, is rated at 16 MPG combined, making it slightly thirstier than the Mustang. On the other hand, a BMW Z4 M40i manages 25 MPG combined, a significant improvement, but it comes at a higher price and offers a different driving experience focused more on refined handling than raw power, making the MUSTANG MPG across all years look quite respectable. These comparisons matter to buyers as they weigh performance against ongoing fuel costs. Those looking for better mileage within the Ford family can find all Ford fuel economy data. While not a convertible, the Mach-E offers spirited performance with far greater efficiency.

Tips to maximize efficiency

The Mustang’s 5.0L V8 is a potent powerplant, but driving it efficiently requires effort. Avoid aggressive acceleration and maintain a steady speed whenever possible. Let the car’s momentum carry you through turns and hills instead of relying heavily on the throttle.

The 10-speed automatic transmission is programmed to quickly upshift into higher gears for fuel efficiency. Use the selectable drive modes to your advantage. The “Normal” or “Eco” mode will prioritize fuel economy over outright performance, while the “Sport” mode will hold gears longer for quicker acceleration.

Proper tire inflation is critical for optimal fuel economy. Check your tire pressure regularly and inflate them to the manufacturer’s recommended specifications. Underinflated tires create more rolling resistance, which decreases fuel efficiency and can also accelerate tire wear. A tire pressure monitoring system (TPMS) can help you stay informed of your tire pressure while driving.

Reduce unnecessary weight in the vehicle. Extra cargo adds strain to the engine and reduces fuel economy. Remove any items you don’t need to carry around regularly. A clean and well-maintained engine also promotes efficiency. Ensure regular maintenance like oil changes and air filter replacements are performed on time.