Named after the original Aussie model from the late 1960s, the Falcon GS sedan and ute models are the new entry-level products of Ford Performance Vehicles, otherwise known as FPV. Available in limited numbers, the new FPV GS is the budget series of the Falcon GT with both the sedan and ute being powered by a detuned version of the 5.4-liter V8 engine that now produces an output of 405HP (302kW) instead of 423HP (315kW). Peak torque remains the same at 551Nm or 406 lb-ft.

Power is transferred to the rear wheels through a standard six-speed manual gearbox or optionally, a six-speed automatic transmission. Ford did not release performance specs for the GS Falcons.

Both Falcon GS models get specific race stripes, a charcoal cloth interior, FPV GT instrumentation, gear knob, starter button and badging while a premium sound system with iPod and Bluetooth integration, and dual zone climate control are also standard.

In addition, the GS sedan features 19-inch Graphite alloy wheels and a choice of six exterior color/stripe combinations, while the GS Ute gets 19-inch Alpine Silver alloys, an FPV soft tonneau and a choice of three exterior color/stripe combinations.

FPV said that production of the GS Series is limited to 250 sedans and 75 Utes, with prices set at $54,950 AUS and $49,950 AUS respectively.

"GS is another iconic badge in Ford's family history in this country," said FPV General Manager, Rod Barrett. "Our aim was to develop a model that provides the performance, prestige and individuality that is a signature of the FPV brand, with its own identifiable model personality, and all at a great price."