
Call it an update on a classic standby. That was the story behind the new-for-1994 Mustang.
For the first time since the late ’70s, the Mustang finally had new sheet metal. It still resembled Ford’s iconic pony car, though, thanks to that long-hood, short-deck profile. Meanwhile, its modernized face jibed with the rest of Ford’s current lineup. So did the interior’s dual-cockpit setup.
Underneath, though, was a familiar story: front struts and a live rear axle secured by four control arms. The engines were also holdovers: the Essex V6 in the base car and Ford’s popular 5.0 V8 in the Mustang GT.
The Mustang may have been mostly new for 1994, but the upgrades and special-edition models quickly followed:
1994: Standard Mustang GT not enough to run with Camaros? The optional SVT Cobra added the GT-40 engine and bigger brakes.
1995: Ford revived the Cobra R, producing 250 copies, each powered by a 5.8-liter Windsor. Konis and a fuel cell came standard.
1996: Ford replaced the Mustang GT’s tried-and-true 5.0 with its then-new 4.6-liter Modular V8–still 215 horsepower but a bit smoother in operation. The Cobra received a DOHC Modular V8 rated at 305 horsepower.
1998: Mustang GT output increased to 225 horsepower.
1999: Ford applied its sharply creased New Edge styling to the Mustang while bumping GT output to 260 horsepower. The Cobra also received independent rear suspension and a claimed 320 horsepower–which dynos found to be optimistic, causing Ford to stop Cobra sales and issue a recall.
2000: Ford offered another track-tuned Cobra R, this one powered by a 385-horsepower, 5.4-liter Modular V8.
2001: Ford restarted standard Cobra production while also unveiling the Bullitt. Steve McQueen would have dug the Dark Highland Green paint, lowered stance and five-spoke wheels.
2003: More retro goodness: Ford brought back the Mach 1, complete with shaker hood scoop.
2004: This was the final year for the SN95-chassis Mustang. Ford offered a 40th Anniversary Edition.