The exterior sheet metal and the cabin have been redesigned to give it a more modern look and feel, but it also has styling cues inspired by past Mustangs.
"This is a quite historic night for us launching Mustang around the world. We are going global and giving our customers the full family of Ford vehicles," he said.
The No. 2 U.S. automaker announced on Thursday that it had sold 99,157 cars last month, an increase of over 50 percent on November 2012 figures and David Schoch is confident on the newMustang's future attraction to customers of all ages.
"China is the largest market in the world and our ability to bring it here is just the next step in our one Ford plan of being able to bring our full family of vehicles here," he said.
"It's very modern. It has European and Japanese DNA with it. I think its rear part has European's DNA and its front part has Japanese DNA with it," he said.
The 2015 model is slated to go on sale next summer.
When it was last redesigned eight years ago, the Mustang took a step backward in time, with a retro design that has attracted fewer and fewer buyers.
Sales last year totaled just 82,995 and were down another 8 percent through October.
The automaker has developed a new rear-wheel-drive platform for the 2015 Mustang, which will ride on the same 107-inch wheelbase as its predecessor but is expected to shed several hundred pounds.
Ford has also revamped the car's suspension, steering and brakes, and upgraded engines and transmissions.