Blue Oval confirms there will be a more affordable performance Mustang model soon, though it hasn't specified what form it will take.

The Ford Mustang is already a fairly capable sports car, and in markets like the USA there's even more hardcore versions in the form of the Shelby GT350 and GT500 models.

According to reports out of North America, Ford Motor Company has confirmed a new "entry-level" performance variant of the iconic pony car will form part of the 2020 line-up, but hasn't divulged much else.

This has the rumour mill spinning, with publications like Autoblog guessing the new model will be based on the four-cylinder EcoBoost Mustang.

Pictured: 2019 Ford Mustang GT

In the US the V8-powered Mustang GT is offered with various Performance Packages, including Michelin Pilot Sport tyres and upgraded Brembo brakes – included as standard on Australian models – though these options aren't available on the 2.3L EcoBoost 'Stang.

Other V8 derivatives include the Bullitt limited edition, the GT350 and GT350R, along with the all-out GT500. This has led Autoblog and other US outlets to speculate the new variant could either be a Performance Package or Ford Performance upgrade for the four-cylinder Mustang.

Expected features include a slight power bump, potentially up to the 257kW/440Nm tune of the outgoing Focus RS hot hatch, which is a decent improvement over the EcoBoost Mustang's 224kW and 441Nm, at least in terms of power.

Add to that stickier Michelin Pilot Sport rubber and upgraded Brembo brakes, a four-cylinder Mustang with Performance Package shapes up to be a worthy rival to the likes of the Nissan 370Z Nismo and high-spec versions of the Toyota 86 that are more track focused than their standard counterparts.

Nothing is official bar the new model's existence, however, so we'll have to wait and see what Ford comes up with over the next few months.

Stay tuned to CarAdvice for all the latest, and let us know your thoughts in the comments.