Ford is planning to stretch the lifecycle of the next-generation Mustang from the previously planned six to eight years.

A report coming out of Automotive News says that Ford has told its suppliers that the all-new Mustang will have an 8-year lifespan. The expectation for an eight-year program mirrors the life cycle of the current model which went on sale in 2014. The current-gen pony car will live on until late 2022 for a 2023 model year.

It's not uncommon for automakers to shift product timelines in the years leading up to the launch of a new or redesigned model. Extending the seventh-generation Mustang's life cycle could help Ford save on engineering and development costs for a relatively low-volume nameplate as consumers increasingly opt for utilities or pickups.

The extension also signals Ford's confidence in the storied nameplate even as rumors swirl that one of its competitors, the Chevrolet Camaro, could be discontinued.

The next-generation Mustang is expected to be moved to the same rear-wheel-drive/all-wheel-drive platform shared by the Ford Explorer and Lincoln Aviator, which could mean a slightly larger size.

Suppliers have been told that annual production volume for the next-gen Mustang will tally just under 100,000 vehicles a year: coupe volumes are projected at 77,000, and up to an additional 20,000 convertibles are planned, suppliers say.

A refresh is then scheduled in 2025.

Sales of the Mustang have dropped in 2020, impacted by the coronavirus pandemic. Still, the sixth-generation vehicle has paced the pony car segment each year since it's been on sale—holding the title of the world’s best-selling sportscar from 2015, 2016, 2017, 2018, and 2019.

To keep the Mustang fresh, Ford has added a number of variants including the Bullitt, Shelby GT500, and Mach 1.