From Jayski's site

NASCAR to run Nationwide COT at Daytona in July; Ford to run Mustang; Image posted: It appears the Nationwide Series version of the Car of Tomorrow will not make its debut until next July at Daytona. NASCAR had hoped to roll out the new car for the series next February, however after meeting Tuesday with Nationwide Series owners at NASCAR's Technical Center in Concord, North Carolina, team owner Rusty Wallace said it was a timing issue. The former Sprint Cup Series champion said, "Most of the teams were concerned about how soon the car would come out and how much would it cost. As the meeting went on it became apparent it won't come out in Daytona (February) as thought...it's just too soon." Wallace felt the majority of the owners thought the car should roll out next July at Daytona and probably no road courses will be involved in 2010. The delay is all about money. "The economy is really killing us right now," said Wallace. "A lot of it is about cash flow too....it's all about bringing this thing out at the right time where the teams can afford it and we've got time to be prepared." Wallace suspects the new car could be raced on speedways like Phoenix or Charlotte, however NASCAR has yet to decide where testing will take place. Meanwhile, team owner Kevin Harvick came away from the meeting with a positive feeling. Harvick said, "I think they were open and listened to everyone's opinion. Obviously NASCAR is in a spot where they have to make a decision for a multitude of scenarios and situations and try to make the best decision for the sport. Obviously from a safety standpoint I think the new cars are good and listening to some of the cup owners talk about what the car has done for them, once they zeroed in on where they needed to be with chassis and things like that, it sounds like the production process is a little bit bette, a little more streamlined than it was before. It's going to take some time to put that process in place but it looks like they've thought it through and we'll see where it goes.(PRN Garage Pass)
AND: Mustang is already the most successful single nameplate brand in professional racing history, but it hasn't competed in NASCAR until now. Brian Wolfe, director of Ford North America Motorsports, made the announcement today that Mustang will debut as part of NASCAR's "new car" limited rollout in the 2010 Nationwide Series. Ford Racing has gone through the official NASCAR submission and approval process for the new car, and, once templates are finalized, production of Mustang parts will start so teams can build the first cars for testing later this fall.(Ford PR), see an image of the car on the 2010 Ford COT page.
AND: Ford Racing Communications Manager Kevin Kennedy told Sirius Speedway Tuesday that the new NASCAR Mustang will be more stock-appearing than the Sprint Cup Ford Fusion, adding that the appearance of the car was at the top of FoMoCo's wish list. While declining to comment on the direction Chevrolet, Dodge and Toyota might make with their versions of the new Nationwide car, Kennedy confirmed that NASCAR would like to make the series a pony-car/musclecar-based platform.(Sirius-Speedway(7-28-2009)
UPDATE: Statement from Robin Pemberton, NASCAR Vice President, Competition: "We had a very productive meeting this morning (Tuesday, July 28) with the team owners from the NASCAR Nationwide Series about the rollout schedule for that series' new race car. "In the days ahead, we will digest what was discussed today and make a final decision on the rollout for next season with full anticipation of integrating the new car for the entire 2011 schedule."(NASCAR PR)(7-28-2009)



Check out the pic of the new car, looks a heck of a lot better than the current Cup COT in my opinion. Although NASCAR is supposed to redesign that car as well.  I love Mustangs so this is good news.