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We got wind of Saleen's new value-oriented brand last week, and they made it official with a press release introducing Racecraft and its first product, the 420S. The sub-$40,000 Mustang will have a focus on pure performance and offers up a supercharged V8 with 420 horsepower as well as an upgraded suspension, lightweight wheels, exterior graphics, and a few interior accents. If buyers want a little more, they can also shop the Saleen Speedlab catalog for items like the 475 horsepower upgrade kit that retails for just under a grand and doesn't void the 3-year/36,000 mile warranty. That's near GT500 territory, but for $5,000 less (not including markup on the Shelby), and about 300+ lbs lighter. The car will be officially unveiled at Mustang Week in Myrtle Beach, SC on July 26, and if you're in the area we hear they will be offering demo rides. The press release and a full list of 420S features can be found after the jump.

Related GalleryRacecraft 420S Mustang

[Source: Saleen]

PRESS RELEASE:

Troy, MI (July 3, 2008) – Today Saleen Incorporated, America's premiere niche vehicle manufacturer, announced the promotion of its newest performance vehicle brand, Racecraft. "The Racecraft moniker has been synonymous with Saleen performance since the first Saleen Mustang, "said Saleen Automotive General Manager, Marques McCammon.
"Racecraft is a brand that our enthusiasts know as the secret sauce in Saleen suspensions, now that brand name will grow to encompass a full line of exciting performance vehicles."

The Brand

The Racecraft brand will provide consumers with:
· Value that the market can touch
· A ready canvas for customization
· Business first styling that puts go before show

"This formula is one of legitimate performance that you can see, hear, and feel. It just seemed a natural for us to say that Racecraft will 'Power Your Senses' ", said McCammon.

The Product

Racecraft model nomenclature is a reflection of vehicle horsepower. Thus the first model in the lineup, the base Mustang, 420S features 420 Horsepower Supercharged V8 engine. Each Racecraft vehicle will also feature the signature Racecraft suspension, Bridgestone performance tires, light weight aluminum alloy wheels, race inspired graphics and signature interior accents. The design formula is understated, leaving room for the enthusiast to explore their own expression of style and performance through Saleen's SpeedLab performance parts division. All of this is wrapped in a 3 year 36,000 mile factory warranty.

Customization

"Racecraft and SpeedLab is the perfect marriage," says SpeedLab General Manager, Michael Lingo. "The vehicles are dynamically superior right out of the box, but my team is always ready to take performance to the next level. It is a perfect combination, and the winner is the consumer."

Among the SpeedLab offerings, consumers will find the ability to upgrade the performance of their vehicles to up 475 horsepower without violating their factory warranty. Many other components will allow the Racecraft owner to explore further expressions in power, style, and handling to help make their Racecraft an unique expression of their performance personality.

The Value

Value is a key cornerstone of this new brand. This is evident in the sub-$40,000 price point of the 420 horsepower 420S that includes transportation and applicable federal taxes. What's more, the consumer will find many of the offerings from SpeedLab priced at or below $1000.

This type of value will be found in each Racecraft branded vehicle that executives say will begin hitting the market later this year. "There are many customers out there who want to experience extreme performance reasonably priced; we designed the Racecraft brand with this buyer in mind, says McCammon.

More to come

Speculation that Racecraft will replace the Saleen brand is completely false. Racecraft is actually intended as the entry point of the Saleen performance enthusiast. The 420S is just the first offering from the new brand. Saleen executives contend that the brand will follow with more products that fit. "Consumers should expect to see the next Racecraft model as early as the fall", said Product Planning Director, Julie Zona. The Racecraft 420S provides the power enthusiasts require behind the wheel and the control needed for unyielding performance.

RaceCraft 420S Mustang features:

· Racecraft 4.6L SOHC Supercharged V-8
· Horsepower: 420 @ 5800 RPM
· Torque: 400 ft.-lbs. @ 4000 RPM
· 39 lb. fuel injectors
· 98 mm mass airflow sensor
· hi-flow inlet tube and air box cover
· Performance air filter
· Racecraft specific rate front and rear coil springs
· Racecraft front struts (N2)
· Racecraft rear shocks (N2)
· Racecraft front sway bar and pivot bushings
· Bridgestone Potenza All-Season Performance Radial Tires
· 18"x9" Front and 18"x10" Rear Aluminum Alloy 'Torque Blade' wheels
· Racecraft exterior badging
· Racecraft logo side rocker graphics
· Racecraft '420S' performance vinyl hood graphics
· Racecraft rear decklid graphics
· Racecraft 180 MPH silver faced speedometer with MyColor feature
· Satin aluminum instrument panel upgrade
· Racecraft steering wheel badge
· Leather-wrapped steering wheel
· Leather wrapped billet aluminum shift knob
· Leather shift boot
· Performance cloth seats with Racecraft embroidered headrest
· $38,995 MSRP