The squad will continue to be backed by Penrite this season, the local oil maker taking the naming rights for both cars.
That means a somewhat familiar look for Grove Mustangs – albeit draped over brand new Gen3 hardware.
While the covers are off the Grove cars they are yet to turn a wheel, the team planning to kick start its testing programme midway through this month.
“The launch of our Gen3 Mustang liveries marks a significant milestone for our team and category," said team owner Stephen Grove.
“It’s always exciting to see the design concept when it presents on a render, but to see it come to life on our Gen3 [cars] is something quite special.
“The team has done a fantastic job getting them prepared, from the engineers and mechanics to the commercial team, and it’s a testament to their continued commitment during what has been a challenging period with the Gen3 build.”
Lead driver Reynolds said he was looking forward to getting his hands on the new-generation Mustang.
“I’m super excited to get behind the wheel of these cars," said the 2017 Bathurst winner.
"They look so epic, and I think they’ll look even better on track. The whole team here have done an awesome job – they say that stripes make you go faster so let’s hope that rings true.
“It’s great to have the support of Penrite and Ford again along with all our other sponsors, it means a lot that they stayed with us."
Payne, meanwhile, will be making his full-time debut this season, with enduro signing Garth Tander in his corner as a mentor.
"It’s great to see the cars track ready for the first time," said the 20-year-old.
"To see my name and number on the cars is pretty special. I am glad to be able to share this moment with the team whose support has been extraordinary.
“We’re setting our sights to our test days and Newcastle, and I am keen to be alongside Dave and learn from him as well as Garth whose experience will be invaluable."
