As of the 1991 model year, the third generation Ford Mustang's lineup consisted of eight trim levels: two for the 2-door coupe (LX and LX 5.0), and three each for the 2-door convertible and hatchback (GT, LX and LX 5.0).
The Ford Mustang got a complete makeover for the '94 model year.
The '95 'Stang gallops into the new season virtually unchanged. A new model, the limited edition Cobra, joined the lineup in March '94.
All three models, the base Mustang, the GT and the Cobra, are available in coupe and convertible versions. The Cobra, with its enhanced 240-horsepower 5.0-liter V8, will be sold through a network of some 750 Special Vehicle Team (SVT) dealers.
Mustang and its arch rivals, the Chevy Camaro and Pontiac Firebird, all compete in the same large-sport-coupe market segment. Buyers fall into two groups, those who want a sporty-looking car larger than a Japanese import, and those who want a true high-performance sports car.
In addition to making the power driver's seat optional instead of standard, and adding an AM/FM stereo with CD and premium sound, the '95 Mustang adds two new colors, Sapphire Blue and Silver Frost, while dropping Iris and Opal Frost.
The power picture starts with a 145-horsepower V6 for the base car, with a 215-hp 5.0-liter V8 for the GT. Both come with either a 5-speed manual or 4-speed automatic transmission. The potent Cobra is available only with a 5-speed manual transmission.
Mustang's option list shows an ear-wax-melting 230-watts-per-channel, Mach 460 killer sound system with 10 speakers. Options also include antilock brakes, air conditioning and 17-in. wheels (for the GT; they come standard on the Cobra).
As of May 2, 1994:
- $20,765 (1994 Ford Mustang Cobra 2DR Coupe)
- $23,535 (1994 Ford Mustang Cobra 2DR Convertible)
As of mid-1994:
- $14,330 (1995 Ford Mustang 2DR Coupe)
- $17,905 (1995 Ford Mustang GT 2DR Coupe)
- $20,795 (1995 Ford Mustang 2DR Convertible)
- $22,595 (1995 Ford Mustang GT 2DR Convertible)
As of late 1994:
- $16,910 (1995 Ford Mustang GTS 2DR Coupe)
- $21,300 (1995 Ford Mustang Cobra 2DR Coupe)
- $25,605 (1995 Ford Mustang Cobra 2DR Convertible)
As of June 15, 1995:
- $14,530 (1995 Ford Mustang 2DR Coupe)
- $18,105 (1995 Ford Mustang GT 2DR Coupe)
- $20,995 (1995 Ford Mustang 2DR Convertible)
- $22,795 (1995 Ford Mustang GT 2DR Convertible)
- $15,180 (1996 Ford Mustang 2DR Coupe)
- $17,610 (1996 Ford Mustang GT 2DR Coupe)
- $21,060 (1996 Ford Mustang 2DR Convertible)
- $23,495 (1996 Ford Mustang GT 2DR Convertible)
- $24,810 (1996 Ford Mustang Cobra 2DR Coupe)
- $27,580 (1996 Ford Mustang Cobra 2DR Convertible)
- $475 (1993 to early 1995 models)
- $500 (1995 and early 1996 models)