It's what helps athletes with disabilities stay stable as they snowboard and ski –  and it is being used on the new Ford Mustang for improved handling, particularly on tight European roads.

Magnetorheological fluid (MRF) enhances artificial knee joints so they better absorb impacts and it is used in the Mustang's suspension shock absorbers for a smoother, more refined ride. A magnetic field is automatically adjusted 1,000 times per second to align iron particles suspended in oil, making them firmer for sharp cornering or softer for cruising.

There are many quirks to this iconic but still remarkable modestly priced model – UK prices for example will start just below a GBP40,000 (US$56,000) tax break.

You can tune it for track mode, drag mode and even snow – there is even launch control. The exhaust can be tuned to make the car sound like the original '64 model as seen in the film Bullitt, and, best of all, it can be put into 'good neighbour' mode so the thumping five litre V8 doesn't wake up those living next door in the early hours.

Ford said it has sold 33,000 Mustangs in Europe since launch in 2015 (finally adding a factory RHD option) making it one of the world's top selling sports cars. Available in fastback and convertible body styles, the profile now features more refined aerodynamics, new LED lighting technology, and a choice of 11 bold exterior colours and new alloy wheel options.

The Ford V8 now delivers 450PS – and is able to sprint from 0-100 km/h (0-62 mph) in 4.3 seconds when combined with a new 10-speed automatic gearbox. The six speed manual transmission now features rev matching technology that delivers smoother, faster downshifts accompanied by a blip of the powerful engine.

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The more fuel efficient 2.3 litre EcoBoost petrol engine delivers 290PS and 440Nm of torque alongside 9.0l/100km (31.4 mpg) and 199 g/km CO2, when combined with a six speed manual gearbox. Driver assistance technologies including pre collision assist and lane keeping aid. 

Ford of Europe chief Steven Armstrong, said: "Europe's passion for Mustang has proven even greater than we imagined. There are few cars on the road that can deliver such a combination of heritage, style and performance to such a wide audience. The new Mustang offers the most compelling package yet."

The exterior is sleeker and more athletic looking while retaining the instantly recognisable character honed through more than 50 years of production.

The bonnet profile is now lower with integrated air vents, combined with a revised lower grille design to give the Mustang a sharper, more aggressive face, while improving aerodynamics.

The interior has a more premium feel with soft touch materials now feature for the door linings and the door handles are finished in aluminium.

The centre console features a new hand stitched, soft touch wrap, finished with stitching in a contrast colour for a more dynamic and upscale feel. The instrument panel surround is available in four new aluminium finishes. 

Another quirk: A new engine start button pulses red from the moment the door is unlocked until the engine sparks in to life, giving Mustang a heartbeat of its own. At a rate of 30 beats per minute, the start button mirrors the resting heart rate of a pony.

The new Mustang also features Ford's SYNC 3 communications and entertainment system, which allows drivers to control their connected smartphones, audio, navigation, and climate functions with conversational voice commands, and by using pinch and swipe gestures on the central eight inch touch screen. The system is compatible with Apple CarPlay and Android Auto.

Available later will be a special edition Mustang Bullitt which pays homage to the 'stang GT fastback featured in the legendary Warner Brothers film. It will be powered by an uprated V8 that is anticipated to deliver 464PS and 529Nm of torque.

Armstrong added: "Nothing captured the spirit and excitement of Mustang quite like that amazing car chase in Bullitt. The new model will pack a similar punch when it goes on sale this year with more power, exciting new features like rev-matching and B&O PLAY audio, and – just like Steve McQueen – dripping with understated cool."