Ford Motor Company is pulling out all the stops for 2011 to protect its Mustang franchise from its cross-town rival, the Chevrolet Camaro.

New styling and an upgraded interior arrived in 2010 for Ford's venerable pony car. For 2011, Ford significantly upgraded the Mustangs performance profile with new V6 and V8 engines and new 6-speed transmissions.

Now, Ford has announced pricing for the re-invigorated Mustang. The V6 model will start at $22,995, including a $850 destination fee. The least-expensive 2010 Camaro V6 is $535 more at $23,530. Chevrolet has not yet announced Camaro pricing for 2011.

The new 5.0-liter V8 Mustang GT will start at $30,495. For comparison, a base-level V8-powered 2010 Camaro SS costs $31,795.

Expect to pay $49,495 for the 2011 Shelby GT500.

Look for our first-drive impression of the 2011 Mustangs soon. Meanwhile, have a look at our exclusive dyno test of a 2011 Mustang 5.0.