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Fourth Generation Mustang (1994 - 2004) Page:3

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Don LaBar’s former Bondurant Cobra now has a home on the street

An up-close look at Don LaBar’s Bondurant Cobra. Read More

2004 Mustang GT Ready to Hit the 600+ Club

A reader in Virginia Beach tells us about his 2004 Ford Mustang GT, Read More

Stephen Floyd’s Single Turbocharged Gotta Have It Green 2003 Mustang Cobra

The feature on Stephen Floyd’s wicked 2003 Mustang Cobra. Read More

Tim Matherly’s NMRA Coyote Stock Mustang Bullitt Rebuild

After a devastating shop fire nearly destroyed the championship Read More

This 2004 SVT Cobra is No Stranger on the 1320

Jeremiah Burgess owns this modified 2004 SVT Cobra in OEM Oxford White Read More

Hugger Orange 1998 Cobra Is One Slick Snake

Let’s be honest. Mustangs are a dime a dozen, and there is a good Read More

What’s Inside BES’ New 698-Inch Ford in Nick Bacalais’ 1996 Mustang!

This year, the world of 275 drag-radial racing is going to look a lot Read More

Greg Trail borrowed his wife’s Cobra for the NMRA/NMCA All-Star Nationals at Atlanta Dragway

A detailed look at Greg Trail’s 1991 Mustang coupe and 2003 Cobra. Read More

Gary Parker Fine-Tuning his 2002 Mustang for Modular Muscle

Parker added a Racepak IQ3 for the NMRA/NMCA All-Star Nationals. Read More

Krystal Earl’s custom built wide body 1999 Cobra Mustang

An inside look at a wide body 1999 Cobra Mustang. Having grown up Read More

This Modded 2001 Bullitt Was Meant to Be Driven

Andrew Stolzman drives his modded 2001 Bullitt around NorCal. As of Read More

This 1998 Mustang Cobra is elegant & packs a supercharged punch

Leonardo da Vinci once said, “Simplicity is the ultimate Read More

2001 Mustang GT Is One Bad New Edge

Nebraskan Andrew Reardon owns this beautiful five-speed 2001 Mustang Read More

Power by the Hour Shows the Easiest Way to Coyote-Swap the World

A detailed look at Power by the Hour's newest Coyote-swapped New Edge. Read More

JLT Performance to Sponsor Spring Break Shootout Class at NMRA Season Opener

The cold air intake gurus have a long history of making horsepower. Read More


By 1994, the Mustang had been in production for 30 years, and Ford had the formula dialed in. Following on the footsteps of the venerable Fox-body (1979-93), Ford introduced the Fox-4 "SN-95" chassis in 1994, with it a larger, slightly heavier, and more rounded body design.

The styling was received well, as this design was packed with many "classic" Mustang cues. The '94 model brought a totally new look, as well as new technology and enhancements in safety and performance.

SN-95 Mustangs would benefit from anti-lock brakes, five-lug axles, the addition of a front, passenger-side air bag, and an improved chassis with greater rigidity. Additionally, Ford tweaked the suspension for improved road feel and handling.

Over the decade of this model run, Ford produced two distinct body designs, but the underpinnings remained virtually untouched. The front used a modified MacPherson Strut design with the coil springs set between the lower A-arm and the K-member. It retained use of the live axle with four trailing arms and two shocks. This design works quite well for normal driving, as well as for drag and road racing, and there is full support from the aftermarket. The only variation was the 1999-04 SVT Cobras, which utilized an Independent Rear Suspension.

One attribute to the SN-95 is the interior, which is reminiscent of the '69-70 Mustang. It has a double-hump dash, a nicely laid out center stack with integrated console, and well-blended gauge cluster.

Power came from either a V-6 or V-8, and Mustang owners could choose between an overdrive automatic or five-speed manual (SVT Mustangs are manual only, with the '03-04 being six speeds).

The 8.8-inch rear axle remained largely unchanged from the Fox-body, save for five-lug axles and disc brakes on all models.



The GT powertrain remained virtually unchanged in 1994-95, but the four-cylinder was gone in favor of a 4.0L V-6.M

Special editions of the '94-95 models included the SVT Cobra with 240 hp, including an Indy Pace Car model, and the second SVT Cobra R Mustang, of which only 250 were produced (all in white). These were powered by a 300hp 351 Windsor, similar to the 351W in the 1993-95 SVT Lightnings.


Using the same body style, save for badging and taillights, Ford introduced the Two-Valve and Four-Valve DOHC Modular engine family to the Mustang. Performance from the Two-Valve was disappointing. The engine produced only 215 horsepower, and fortunately, the 305hp DOHC engine in the SVT Cobra picked up the slack and provided lots of high-rpm excitement. There are still many 1996-98 SVT Cobras running around, and you can generally find nice examples at a fair price. The V-6 remained virtually unchanged during this model run.


When the time came for a face-lift, Ford went back to sharper lines, and so the 1999-04 Mustangs are commonly called "New Edge" Mustangs. Along with the new look, came a much-welcomed increase in power and performance. With the PI (Performance Improved) heads on the 4.6L Two-Valve, the Mustang had 260 hp, and could run solid 13s in stock trim. And while many 5.0L Foxes were modified to run quick, very few could turn 13s in 100-percent stock trim like the New Edge.

The SVT Cobra model continued on, and a big selling point (at least according to Ford), was the IRS rear axle. Unfortunately, while it provided nice handling, it lacked strength. Furthermore, the DOHC engine benefitted from an improved cylinder head design, boosting output to 320 hp in '99 and '01. In between those two models was the edgy 2000 Cobra R, which boasted a 385hp 5.4L Four-Valve and a T-56 six-speed transmission.

For the 2003-04 model years, SVT dropped a bomb with the supercharged SVT Cobra, dubbed "Terminator." At 390 hp, the Eaton-blown 4.6L Four-Valve made the Terminator unlike any other production Mustang before it. It also featured a six-speed transmission and IRS.

Ford rolled out other special edition Mustangs during this time, including the '01 Bullitt (based on the GT) and the Four-Valve '03-04 Mach 1.