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The Mustang has more powerful engines than the Z4:
Horsepower
Torque
Mustang 2.3 turbo 4-cylinder
310 HP
350 lbs.-ft.
330 HP
Mustang GT 5.0 DOHC V8
460 HP
420 lbs.-ft.
Mustang Mach 1 5.0 DOHC V8
480 HP
Z4 sDrive30i 2.0 turbo 4-cylinder
255 HP
294 lbs.-ft.
Z4 M40i 3.0 turbo 6-cylinder
382 HP
368 lbs.-ft.
As tested in Motor Trend the Mustang GT is faster than the Z4 sDrive30i (automatics tested):
Mustang
Z4
Zero to 60 MPH
4.2 sec
5.2 sec
Quarter Mile
12.5 sec
13.8 sec
Speed in 1/4 Mile
114.5 MPH
100.7 MPH