Barely two years in the global market and it appears that Ford will be giving their pony car a mid-cycle revamp by early next year. Our spies spotted the updated Mustang doing rounds in Detroit in both coupe and convertible bodies.

Mustang convertible

With a heavily covered front end, it hints that the fascia will get the most significant changes for this refresh. A closer look at the test cars show new LED-ringed headlights peeking out from the camouflage. The Mustang convertible will get the same changes.

Mustang coupe side

On to its side, the updated Mustang appears to carry over the same lines from the current model with its swept up window lines and coke-bottle shaped rear quarter panels. Ford did cover the rear end of the car, suggesting that the tail lights get a mild tweak.

Mustang coupe rear

Being a minor model change, it is possible that powertrain options will be the same as the current model. The Mustang range starts with a 2.3 liter EcoBoost inline-4 standard for export markets. Topping the range is the GT with its 5.0 liter Coyote V8. However, there may be a power increase for EcoBoost and GT models in the works. It is also unknown if the 3.7 liter V6 will be dropped since the smaller EcoBoost engine puts out more power in the current Mustang

Mustang convertible rear

While the engines will likely be carried over, our spies did mention that the Mustang might get a new automatic transmission. First used in the F-150, the updated Mustang may get the new 10-speed unit from the full-size pickup. Co-developed with GM, the new transmission aims to improve economy and efficiency, as well as make the most of the engine's powerband. It will most likely be retuned to suit the sporting characteristic of the Mustang.