The last model of the Ford Falcon is set to be released towards the end of the year and Ford's decision to cease local manufacturing by October 2016 has increased doubts over the company's ongoing participation in V8 Supercars.
The V8 Supercars team owner Rod Nash, who is a co-owner in the factory-backed Ford Performance Racing (FPR) team, believes the two-door Mustang coupe could be the car to keep Ford in the championship.
A sixth-generation version of the Mustang is due for release in Australia in the latter part of next year.
Nash says the possibility of racing the car in future years of the V8s is one his team have to look at.
With the Holden Commodore also facing extinction no later than 2017, V8 Supercars has opened itself to the possibility of changing current regulations to allow two-door coupes to race alongside or in place of the current four-door sedans.
If the change is adopted, not only will Ford be able to race Mustangs but cars such as Chevrolet Camaros and Dodge Challengers could join the grid.