The Series 3 Mustang had been in production since 1979, so by 1993 was well overdue for replacement. To bow out with a bang, the Ford engineers came up with Hie best version of all: the Cobra. Using the 215bhp (160kW) GT as a base, a new grille, sill panel mouldings, rear valance and spoiler were made, plus the car was given 17-inch (432mm) wheels and low-profile tyres. Lowered suspension, Interestingly with softer rate springs, gave the car better handling and a more Civilized ride.

Power was up to 235bhp (175kW) thanks to GT40 heads, a special Intake, bigger throttle body, larger injectors and a revised roller camshaft. Disc brakes all around improved the braking over the standard GT, but aside from this, Hie ear was similar. The most radical was the Cobra R, a race-only version which had luxuries removed - such as the air-con, radio, and rear seats - to save weight.