I think it’s more about the changing auto industry marketplace than competition.
25 years ago you couldn’t get a “performance SUV” and sedan options where limited. Nor where their EVs that offer carrier catapult like acceleration
The two door market is small and getting smaller because it’s so limited in functionality. The market place seems to favor vehicles that appear to be multi purpose, even if the features are only used once or twice in the vehicles lifetime.
The Mustang will always have a market, but it’s not going to sell 1 million units like it did almost 60 years ago.
I think you make valid points, as I think one and three are most likely the biggest culprits. Though the front fascia is acceptable I don’t think it is particularly good looking. I personally think it is bad enough that it should be redesigned for 2026. The current design does not feel cohesive to me and the leading edge of the hood is too flat.
With the discontinuation of the Camaro and the Charger/Challenger, the Mustang should have seen a sales increase, not a decline. Not every person in that segment is brand loyal, and since you are the only kid on the block now there really isn’t an excuse.
Bingo! So now you are just getting a cheap ass piece of glass in the pano’s place since it’s probable they are using the same shade setup.
So it’s reasonable to assume it’s Ford “cheapening out” as you had suggested above.
Brilliant move to improve sales!