The Ford Mustang was looking pretty tired by 2004. Sure, it had some interesting visual cues, but overall it lacked the distinctiveness many Mustang enthusiasts thought it should have. The car’s performance was also starting to suffer in comparison to its competitors, mostly imports like the reborn Nissan Z-car.
In short, the Mustang was showing the strain of being Ford’s sports flagship. After all, the car had gone largely unchanged for a decade. Buyers agreed that the old Mustang had lost its edge, and they stayed away in large numbers as it petered out into anonymity.
Updates and Changes
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2005:
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Ford releases their all-new S197-chassis Mustang, and both the base (V6 engine) and GT (V8 engine) models are available with the Deluxe or Premium trim packages. The most significant features of the Premium packages are a six-disc CD/MP3 changer and leather seats. The GT coupe starts at $25,140.
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2006:
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Ford offers a Pony Package for the V6-powered car. It includes the wheels and grille found on the GT plus ABS and traction control. Additionally, a run of 500 Stampede Edition V6 models is sold exclusively in Texas and Oklahoma.
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2007:
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A familiar name returns, as the Shelby GT500 is introduced. It includes a supercharged 5.4-liter Triton DOHC V8 that makes a claimed 500 horsepower. The engine is backed by a Tremec six-speed transmission plus a host of suspension and brake changes.
Ford and Shelby also team up on the Shelby GT-H, a modern version of the famed 1966 Shelby GT350H “rent-a-racer.” The GT-H wears a distinctive black-and-gold color scheme plus a Ford Racing Performance Pack that adds 25 horsepower. The GT-H is available through select Hertz rental outlets.
But wait, that’s not all: The Shelby GT also appears this year. The car receives a Ford Racing Power Upgrade Package. A 90mm throttle body, cold-air intake, high-flow X-pipe exhaust and recalibrated ECU bump output to 319 horsepower and 330 lb.-ft. of torque. The car also receives shorter springs, thicker anti-roll bars, 18-inch wheels and a shorter 3.55:1 final drive ratio. Hood pins are also standard.
Another special edition offered this year is the GT California Special Package, featuring stripes and unique front and rear fascias.
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2008:
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The stacked lineup continues, as Ford dealers continue to offer the Shelby GT and Shelby GT500 models in addition to the standard Mustang GT as well as the base car. A Warriors in Pink model gets pink stripes and trim. The Shelby GT500KR is added to the roster, and its massive 540-horsepower supercharged V8 is joined by an array of chassis modifications.
Another name from the past returns, as Ford brings back a Bullitt edition. It gets 15 more horsepower than the standard Mustang GT. A recalibrated ECU raises the redline by 250 rpm to 6500; top speed is boosted to 151 mph. According to a Ford press release, “a specially mastered DVD helped Ford engineers deliver an exhaust note that matches the film.” Only two colors are available, Dark Highland Green and Black.
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2009:
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Most of the hot models return, including the Shelby GT500, Shelby GT500KR and Bullitt. New options include a full glass roof panel plus HID headlights.
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2010:
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The S197 Mustang receives a face-lift. The look is still retro, but the nose, tail, sides and interior all get some tweaks.
Wheels grow an inch in diameter, as all V6 cars wear 17s while the GT gets 18-inchers. The Bullitt engine modifications migrate to the base GT, giving it 315 horsepower. Stability control becomes standard.
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Retro Revival
Project leader Hau Thai-Tang hit the styling ball out of the park with an all-new Mustang that was almost universally praised. It seemed familiar and fresh at the same time. The overall look was straight out of the 1960s, featuring creased flanks plus a nose and tail that recalled the car’s glory days.
Everything on the new S197-chassis Mustang was almost directly related to the model’s heyday, and it struck a chord with the media and the public. Despite the period cues, the car managed to look modern, sleek and muscular.
The retro theme continued inside the cockpit, with a slab-front instrument panel, squared-off center console and three-spoke silver steering wheel. Like the exterior styling, the interior was retro without compromising functionality. The ergonomics were totally modern, with high door panels and comfortable seats.
The performance was not, thankfully, rooted in the Vietnam War era. Ford offered a choice between two powerplants.
The base engine was a new modular 4.0-liter SOHC V6 that replaced the previous 3.8-liter pushrod V6. This engine was no slouch, producing 210 horsepower—on par with the 5.0-liter V8 found in the old Fox-bodied Mustang.
Backing the shiny new V6 was a familiar old friend: the T-5 manual transmission. Love it or hate it, the five-speed unit was a big improvement over previous versions of the same gearbox. Most buyers picked the five-speed automatic transmission, however.
The base powertrain was good for sub-7-second zero-to-60 times, plenty fast enough for most buyers. The real news for Mustang enthusiasts, however, was the new GT.
The base GT received a 300-horsepower, 4.6-liter modular V8. It featured three valves per cylinder where the previous Mustang GT used two-valve heads. The block was aluminum, and the engine featured variable valve timing along with other technological extras. Behind the V8 engine was either the five-speed automatic transmission or the Tremec 3650, a five-speed manual box. Either combination could rocket the snazzy-looking coupe to a low-5-second zero-to-60 time.
The car’s foundation also featured some updates. An all-new chassis with plenty of torsional rigidity helped Ford engineers squeeze some pretty stunning road holding from a suspension that wasn’t particularly glamorous on paper. The front continued the long-standing Mustang tradition of MacPherson struts, this time with stiffer lower control arms. Out back, the car used a solid axle supported by coil springs, a central torque link, two control arms, and a tubular steel Panhard rod.
The GT came with anti-roll bars on both ends, and the V6 made do with a single, smaller bar on the front. The V6 Mustang came with standard 16-inch wheels, while the GT was shipped with 17s. As with most modern cars, the brakes were robust: either 11.5- or 12.4-inch rotors plus beefy aluminum calipers up front.
Cue the Aftermarket
Contemporary reviewers loved the car, dubbing it a worthy successor to the Mustang name. They praised the power, brakes and comfort—even the handling got the thumbs-up despite the use of a solid rear axle.
The base V6-powered car was lauded for its low price, high level of standard equipment, and surprising performance. The V8-powered GT was the media darling, of course. Thanks to its base price of about $25,000, it was a performance steal.
There were a few complaints, though. Not everyone cared for the fuel economy or the downmarket materials Ford used to muzzle prices. Some reviewers noted the side effects of a solid rear axle, but most were still surprised by the handling extracted from the same rudimentary suspension.
The new Mustang was immediately seized by the aftermarket—with a little help from Ford marketing execs. They realized the importance of the aftermaket, making preproduction vehicles, engineering drawings and critical specifications available to the larger tuners before the car even hit showrooms.
Ford’s own tuning arm, Ford Racing Performance Parts, played a pivotal role, supplying race parts large and small. A “body in white” program was even instituted to supply race teams with the raw material needed to create their own track machines.
Ford Racing Performance Parts went one step further, creating a turnkey racer—the FR500C—for teams looking to run in Grand-Am Cup. The FR500C was powered by Ford’s crate race engine, an overbored version of the 4.6-liter V8 known as the 5.0 Cammer; the moniker was a sort of mishmash of historical engine names. A spec T-56 transmission, Brembo brakes and suspension package rounded out the FR500C. All of the parts were also available separately for do-it-yourself types.
So, how does all of this help today’s bargain shopper? The Mustang hasn’t been immune to depreciation, making used examples an even better deal.
Ford has built a ton of Mustang GTs since the car’s 2005 release. The market is more or less flooded with these sharp-looking, V8-powered coupes, and the aftermarket is still going strong.
