Pleas for a massive government bailout did not stop Ford from taking the wraps off the 2010 Mustang yesterday. The company presented the redesigned pony car last night in Santa Monica, CA, ahead of the upcoming Los Angeles Auto Show.

On the outside the new Mustang retains all the familiar cues of the model first unveiled in 2004 -- posturing a bit more aggressively, dropping the fenders, and adding LEDs from front to back. GT's 4.6-liter V8 will also add 15 more horses for a total of 315 hp, thanks to a cold-air induction system sitting right under the hood.

"Ford took the best of the previous generation and crafted an even finer machine," says Scott Burgess of The Detroit News. And when it comes to the Mustang's lush new interior, I could not agree more. The entire cabin appears to break with previous Mustangs, boasting a more refined dash, better access to controls, and seating typically found in premium brand sedans.

Want to learn about Mustangs on steroids? Check out the FR500S from Ford's Racing Performance Group.