The 2012 Mustang is a rear wheel drive vehicle and is available with either a 3.7 liter V6 (305 hp) or a 5.0 liter (412 hp) V8. Unless of course you opt for a Shelby where you can gain bragging rights and a 662+ hp 5.4 liter engine that is followed around by a Tremec 6 speed manual transmission.