The new 2015 Mustang is dazzling...WHEN WILL MOPAR ANSWER?!?!?

They're trying. Take a look at the SRT Core models... 392 powered Challenger with a 6spd, cloth interior for $40k
Not exactly "cheap" and not light weight but a step in the right direction.

http://www.blogcdn.com/www.autoblog.com/media/2013/02/01-2013-dodge-challenger-srt8-core-chicago.jpg

That just isn't 40K.

That is 40K plus taxes+registration+ insurance ..some based on age + financing..that adds to a much bigger number..