While the all-new Mustang that debuted in 1994 had sold in respectable numbers, Ford heard the rumblings of Mustang purists who felt that the fourth-generation car was too generic. To these fans, who decried it as a “two-door Taurus,” the SN95-platform Mustang had lost its soul. So, for its mid-cycle refresh, Ford designers sharpened the body lines and brought back styling cues from previous generations. The revised 1999 Mustang earned its nickname, “New Edge.”
Many models
Ford also put some improved substance under the new skin. The two-valve SOHC 4.6-L V8 in the GT saw an upgrade to 260 horsepower, for an additional 35. Ford also bumped the Cobra’s four-valve DOHC 4.6-L V8 to 320 horses, although this led to controversy when the new engine was found lacking, leading to a recall of all 1999 Cobras and the 2000 model being canceled. (Ford did produce 300 Cobra Rs that year, with a 385-hp DOHC 5.4-L V8.) The Cobra would return to the lineup in 2001, then disappear again, before being reworked with a supercharger for 2003–04 (the “Terminator”).
The one-year-only Bullitt GT appeared for 2001, with a set of TorqThrust-styled wheels and a close match to 1968 Highland Green. (It could also be had in True Blue or black.) Its 4.6-L V8 was mated to a 5-speed manual and packed five more horsepower than the standard GT. That plus twin-throttle bodies warranted the Bullitt having a unique “X” engine code in its VIN. This is the sure-shot way to know that you are looking at the real deal rather than a GT wearing Bullitt badges.
Mid-year 2003 saw the return of the Mach 1 moniker. Feeding the nostalgia flames — and the 305-hp DOHC 4.6-L V8 — was a functional shaker hood scoop. Buyers could choose either the 5-speed or a 4-speed automatic. The Mach 1 was carried over into the final year of SN95 production, 2004, which also included a 40th Anniversary package available on all models except the Mach 1.
The end of the SN95 was also the end of an era. On May 10, 2004, a Crimson Red 40th Anniversary Edition GT convertible was the final car built at the “B-Building” River Rouge Assembly Plant — ending just over 40 years of continuous Mustang production there.
Buy a V8
Two decades and two generations of Mustangs later, those seeking out a robust American muscle car on a budget will be well served by these cars. While V6 models were also available (many were sold as rental cars), enthusiasts will be drawn to the V8s for obvious reasons. Unless you find Grandma’s drop-trop low-mile cruiser, a V6 is essentially a throw-away car. As always, avoid modified cars — you don’t want to be troubleshooting other people’s work. Although these cars may seem “simple” on the surface, they have plenty of electronics that can be a nightmare to deal with once you deviate from factory equipment.
The SOHC V8 has decent reliability. At worst they’ve been known to spit out spark plugs with higher mileage, due to thin head castings. The DOHC versions have proven to be more reliable and robust. (Cobras were also more expensive when new than the GT, leading to a more-mature original owner pool.) The Achilles’ heel for Ford manuals tends to be hydraulic-clutch-linkage hardware; expect to have to overhaul it by 100k miles. Regular fluid changes on the automatic — 60k miles to be prudent, as at 120k you’re too late — help their longevity significantly.
While not stellar, overall build quality was decent for the era, although compared to the later ’Stangs built in Flat Rock, MI, these cars feel hollow and tinny. Mechanical parts availability is still good, although some trim is now becoming scarce. The aftermarket has also done a good job catering to these cars.
A good value today
The 2000 Cobra R is beyond “affordable,” as a $100k-plus proposition; however, the balance of New Edge V8s are reasonably priced. While low-mile, minty 2003–04 Cobras can crack $50k, an unmodified driver-condition GT with under 80k miles should only set you back $10k–$20k. Even an occasional Cobra or Mach 1 can be found near the top of this range. The 2001 Bullitt is on its own higher plateau, about $24k–$38k, and unlike other New Edge models, they’ve even been moving up recently.
The Cobra arguably offers the best bang for the buck, despite costing more, with the Mach 1 a close second. Yet there are scores more GTs out there than all of the special editions combined, for a better selection of exactly the car you want — and for less coin.
All these cars, save the Bullitt, have been largely flat in the market over the past two years, and I wouldn’t expect that to change soon. That said, a recurring theme in Mustang circles is to hate on every new car at its introduction, then when the styling changes, praise that former look, the one that was previously condemned. With that in mind, more folks are warming to New Edge-era cars than ever before. Get yours while the selection is good and prices are reasonable. ♦
