Guide To 1994-2004 Mustang Engines

Kevin Cassar
July 1, 2020

In Mustang history, many models set the stage for the competition to benchmark amongst their products. Since 1964, the original American pony car has invigorated an entire nation and enthusiasts worldwide. After the wildly successful reign of the Fox Body Mustang during 1979-1993, Ford knew that to keep the legendary nameplate moving in the right direction, Mustang engineers and designers needed a revolutionary design that would harken back the original 60s era pony. In 1994, Ford unveiled the fourth-generation Mustang in the SN95, to push the boundaries of what a Mustang could be.

Unlike its Fox Body counterpart, the SN95 (1994-1998) and New Edge (1999-2004) is a more edgy sculpted design that took direct cues from past Mustang models such as 1967 Mustang GT Fastback, 1969 Mustang Mach 1, and 1969 Boss 429. The long hood, short deck, and wide stance is a direct lineage from the entire heritage of Mustangs. Just like these legendary Mustang models, each of them pushed the boundaries of engine performance technology. Thanks to the legendary Fox Body halo Mustang in the 1993 Cobra & Cobra R, it helped establish the long legacy in the modern age of Ford Mustang performance. Throughout the fourth generation of America’s pony car, it brought some of the most lethal stallions and serpents to ever come out of Dearborn, Michigan.

In this guide, you will find all of the vital information, facts, and specifications on all of the engines that helped make the 1994-2004 Mustang, one of the most beloved generations in the history of America’s favorite pony car!


1994-1995 Mustang GT 5.0L V8 1995 Cobra R 5.8L V8 1996-2004 Mustang GT 4.6L V8 1996-2001 4.6L 32V V8 Cobra 2000 5.4L 32V V8 Cobra R 2003-2004 Mach 1 4.6L 32V V8 "Shaker" Cobra "Terminator" 4.6L 32V Supercharged V8



SN95 Mustang GT 5.0

1994-1995 Mustang GT 5.0L V8

Taking valuable lessons from the last few years of the Fox Body Mustang, the SN95 was introduced with a more modern approach to 5.0L V8 Mustang performance. Using the engine technology and performance learned from the SVT Cobra and Cobra R in 1993, Mustang engineers were able to sprinkle in some Cobra goodies into the Mustang GT mass-produced as all Mustang models have been since the 1960s. Starting with a fuel-injected, efficient, 5.0L V8, Mustang engineers took the engine from potent to lethal. Using GT40 style cylinder heads and a revised intake manifold, the SN95 5.0L V8 was the most influential out of any pushrod 5.0L to date coming out of a GT model.

Since the introduction of OBD II port, enthusiasts have taken the standard computerized PCM (Power Control Module) to integrate more horsepower using fuel mapping and electronic tuning to enhance overall performance. Furthermore, it used a modern ignition system rather the dated distributor technology, which would give the 5.0 greater spark efficiency to increase horsepower and torque distribution throughout all eight cylinders. Combining this with a T-5 manual transmission, the 94-95 Mustang GT was the most potent to come out of Detroit since the original GT models of the late 1960s. All of these components combined helped make a substantial 240 horsepower at 5,000 RPM and a healthy 285 ft/lbs of torque at 4,000 RPM. Ford put their big boy pants on to make this the start of a long legacy of incredible GT Mustang performance.

Due to the revolutionary progression in Ford engine and drivetrain technology, many enthusiasts have been known to add performance enhancements such as long-tube headers, revised cylinder heads, camshafts, and intake manifold. All of these combined will help the pushrod 5.0L become an absolute monster whether on the track or the street you will have a pony from hell against any competition!

You can find the 5.0L Pushrod V8 Engine in the following Mustang models:

  • 1994-1995 Mustang GT Coupe
  • 1994-1995 Mustang GT Convertible

1994-1995 Mustang 5.0L V8 Specs

Measurement Technical Specification
Configuration Cast block and Iron heads
Intake Manifold Aluminum with single runners
Exhaust Manifold Cast Iron
Valvetrain 16 Valve Pushrod Architecture
Pistons Cast aluminum
Connecting Rods Steel
Ignition Electronic Distributor
Bore X Stroke 4.00 X 3.00 in.
Displacement 302 Cubic Inches/4.0L
Compression Ratio 9.0:1
Engine Control Sytem PCM
Horsepower 240 @ 5,000 RPM
Torque 285 LB/FT of Torque @ 4,000 RPM
Recommended Fuel 87 Octane
Fuel Delivery Fuel Injection
Oil Capacity Six Quarts 5W-20 w/Oil Filter 5K Mile Intervals
Redline 6,250 RPM


1995 Cobra R

1995 Cobra R 5.8L V8

Just as the final year of the Fox Body came around, Ford knew it had to put together a team that would incorporate the very best minds of engineering, design, and performance to create the most exceptional modern interpretation of what a Mustang could be. The 1993 Cobra & Cobra R came to be one of the most haloed cars Ford ever built. This innovation of American engineering and performance still is seen throughout the entire landscape of Ford Performance to this very day. It is no wonder that in 1995 Ford would continue this lineage by producing another Cobra R that would shake the very foundation of what an American muscle car could be around a road course or autocross. Building upon the success of the very first Cobra R in 1993, Ford and SVT (Special Vehicle Team) Engineers worked with a fine-tooth comb to come up with the most track-capable Mustang to date.

Using Ford’s legendary history of building some of the most sophisticated engines on the planet, SVT engineers got to work to create one of the most poisonous drivers ever made out of Detroit. Built upon a base of the first generation Ford Lightning engine, the 1995 Cobra R was built with an even more bulletproof bottom end, revised GT40 style cylinder heads, larger intake manifold, and revised ignition system. All of this provided the Cobra to produce a staggering 300 horsepower and 365 lb/ft of torque while retaining the least amount of weight of any Mustang during this year, weighing in at only 3,326 lbs at curb weight. In today’s standard, this is insanely light and nimble as the S550 Mustang weighs almost five hundred pounds more.

You can find the 5.8L Push Rod V8 Engine in the following Cobra models:

  • 1995 Cobra R

1995 Cobra R 5.8L V8 Specs

Measurement Technical Specification
Configuration Aluminum block and Aluminum heads
Intake Manifold Aluminum single runner style
Exhaust Manifold Cast Iron
Valvetrain OHV 16 Valve Pushrod
Pistons Cast aluminum
Connecting Rods Forged Steel
Ignition Distributor-less with coilpack
Bore X Stroke 4.00 X 3.50 in.
Displacement 351 Cubic Inches/4.0L
Compression Ratio 9.0:1
Engine Control Sytem PCM
Horsepower 300 @ 4,800 RPM
Torque 365 LB/FT of Torque @ 3.750 RPM
Recommended Fuel 93 Octane
Fuel Delivery Fuel Injection
Oil Capacity Five Quarts 5W-30 w/Oil Filter 5K Mile Intervals


Mustang 2V 4.6L Engine Details

1996-2004 4.6L 2V SOHC V8

Coming into the second half of the 1990s, Ford was at a crossroads to create engine technology that would revolutionize the American muscle car market amongst its Chevrolet rival. For over two decades, Ford produced the legendary 5.0 302 pushrod V8 that helped make the Fox Body Mustang so legendary amongst enthusiasts and the automotive community. To create a more sophisticated Mustang engine, Ford turned to a Single Overhead Camshaft Design that would allow for higher revving and more efficient combustion. On the contrary, the new 4.6L 2V V8 used single overhead camshaft to conduct each valve's timing, unlike the pushrod 5.0 V8 found in most Fox Body Mustangs.

Furthermore, the 4.6L 2V V8 was the first Ford V8 ever to intake a composite intake manifold, which would help keep intake temps to a minimum vs. older aluminum counterparts. Using an all-new phaser technology where the timing of the engine would be synchronized with the camshafts, this technology had only previously been seen on European high-end exotic engines prior. It helped the first modular engine produce a much efficient power output in 215 horsepower and 285 lb/ft of torque during the first two years. When the New Edge came about in 1999, it produced 260 horsepower a 45 horsepower increase due to revised calibration, a new coil plug design, and more efficient fuel delivery. Torque increased to a tire-shredding 302 lb/ft of torque while maintaing best in class efficiency.

It is evident why Ford went to great lengths in creating the modular engine lineup to create more efficient horsepower and torque. During this time, many enthusiasts took the aftermarket to maximize the two valves' potential. Common modifications throughout the Mustang community are a full exhaust, long-tube headers, improved coil packs, larger throttle body, and short-throw shifter to enable more drive engagement.

You can find the 4.6L 2V Modular V8 in the following Mustang models:

  • 1996-2004 Mustang GT Coupe
  • 1996-2004 Mustang GT Convertible

1996-2004 Mustang 4.6L 2V SOHC Modular V8 Specs

Measurement Technical Specification
Configuration Aluminum block and Cylinder heads
Intake Manifold Composite shell-welded Single-runner, charge motion control valves
Exhaust Manifold Cast Iron
Valvetrain SOHC (Single Overhead Camshaft), 3V
Valve Diameter/Lift Intake: 33.8 mm & Exhaust: 37.5 mm
Pistons Hypereutectic aluminum
Connecting Rods Cracked powdered metal with floating wristpins
Ignition Coil-on-plug, high-thread-insert spark plugs
Bore X Stroke 3.55 x 3.54 in. / 90.2 x 90.0 mm
Displacement 281 Cubic Inches/4.6L
Compression Ratio 9.8:1
Engine Control Sytem PCM
Horsepower 300 @ 5,750 RPM
Torque 320 LB/FT of Torque @4,500 RPM
Recommended Fuel 87 Octane
Fuel Delivery Electronic Returnless Sequential Fuel Injection
Oil Capacity Six Quarts 5W-20 w/Oil Filter 5K Mile Intervals
Redline 6,500 RPM


Mustang Cobra New Edge

1996-2001 4.6L 32V V8 Cobra

Continuing the Cobra's success, the SN95 and New Edge both received the most sophisticated Ford engine to be built since the legendary 427 big blocks found in the Ford GT MKII and the 1967 Shelby GT500 that helped Carroll Shelby. Ford cements an eternal legacy of all American performance. Using engine technology only previously found in high-end race cars, the Cobra engines of this era help push technology forward that is still used in today's lineups of Shelby's and Mustang models alike. The 32V DOHC V8 is still revered as one of the most poisonous engines ever fitted in a Cobra to this day.

Featuring Dual Overhead Camshaft Technology enabled the Cobra to breathe better by allowing more CFM and airflow into the engine, which created more combustion in all eight cylinders. During the first two years of the Modular Cobra, they came equipped with B shaped cylinder head. This is what helped the engine breathe so much better to create more horsepower than the outgoing pushrod Windsor based V8 models. With all the substantial increased airflow, the 96-98 modular Cobra engines were able to make 305 horsepower at 5,800 RPM and 300 lb/ft of torque at 4,800 RPM. It is no wonder why having DOHC (Dual Overhead Camshaft) technology is far superior to pushrod tech due to the amount of airflow the cylinder head can deliver to each combustion chamber.

In 1999, Ford, yet again, realized they had to step up to the plate back to deliver even more performance. Using a Teksid engine block, this created a much more rigid foundation for the Cobra; Mustang engineers wanted to take it even a step further to unleash the full potential of the 4.6L 32V Modular V8. By revising engine calibration and retooling the cylinder heads known as "C" shape, they were able to increase horsepower by 15 by adding more airflow and timing to the mix. Throughout the Mustang community, it is regularly known that long-tube headers, lowering springs, and a larger throttle bodie will be added to increase overall performance and driving experience.

You can find the 4.6L 32V V8 in the following Cobra models:

  • 1996-2001 Cobra Coupe
  • 1996-2001 Cobra Convertible

1996-2001 Cobra 4.6L 32V V8 Specs

Measurement Technical Specification
Configuration Aluminum block and Aluminum heads
Intake Manifold Cast Aluminum
Exhaust Manifold Cast Iron
Valvetrain DOHC (Dual Overhead Cam), 32V
Pistons Forged Aluminum
Connecting Rods Forged
Ignition Distributor-less coil on plug design
Bore X Stroke 3.55 in. x 3.54 in.
Displacement 281 Cubic Inches/4.6L
Compression Ratio 9.85:1
Engine Control Sytem PCM
Horsepower 320 @ 6,000 RPM
Torque 317 LB/FT of Torque @ 4,750 RPM
Recommended Fuel 93 Octane
Fuel Delivery Electronic Fuel Injection
Oil Capacity 6 quarts 5W-20 w/Oil Filter 3K Mile Intervals
Redline 6,250 RPM


2000 Ford Cobra R

2000 5.4L 32V V8 Cobra R

At the turn of the millennia, Ford knew that to keep up the success of SVT (Special Vehicle Team) and the Cobra, it would have to pull every asset out of the bag to hit the automotive world upside down. After months and months of work, Mustang and SVT designers and engineers debuted the 2000 Cobra R; this sadistic snake was the most potent batch of venom ever to hit Ford showrooms. Using Ford's long-standing racing pedigree, SVT engineers were able to put forth a beast that would challenge anything Chevrolet, or its European rivals could come up with. Starting with a base New Edge chassis, that is where all the similarities stop.

Starting with the New Edge chassis, SVT and Mustang engineers got the right to build the most potent Cobra to date. Using the basis of the modular 32V V8 engine, SVT engineers thought it would be best to enlarge the engine size to a behemoth 5.4L or 330 cubic inches. It would enable the Cobra to create existential horsepower whenever it needed to. Furthermore, by using modern technology, Ford could use a couple of tricks up their sleeves to create a one-off intake manifold that would allow the Cobra R to have more free-flowing revving while maintaining horsepower efficiency across the board.

2000 Mustang Cobra R

Learning lessons from previous Cobra models, engineers were able to pull maximum horsepower by adding more CFM to each cylinder head while giving it proper calibration and timing to create 385 horsepower 6,250 RPM and 385 lb/ft of torque 4,250 RPM. At this time, it had been the most powerful naturally aspirated engine to come from the blue oval. To harness all this power, the Cobra R used a Tremec T-56 transmission to help translate all those 385 venomous ponies to get to the ground efficiently. Unlike past Cobra R models, the New Edge was the first to feature high-flow side exit exhaust featuring a Bassani x-pipe, which aided in making all that potent venom.

Looking at the 2000 Cobra R from today's crazy standard of monstrous Mustang and Shelby performance. Twenty years ago, it was the king of all factory-built track cars at that time. Ford knew that it was so unique, it why only three-hundred were built to make it an exclusive club among Mustang enthusiasts and owners. Each one was painted in Performance Red and was only equipped with the necessary needs to go racing on the track. Creature comforts such as air conditioning, radio, power windows, locks, and back seat were all deleted in the aiding of saving weight for better handling at the track.

200 Cobra R Engine Bay

You can find the 5.4L 32V V8 Engine in the following Cobra models:

  • 2000 Cobra R Coupe

2000 Cobra R 5.4L 32V V8 Specs

Measurement Technical Specification
Configuration Aluminum block and Aluminum heads
Intake Manifold Aluminum Cobra R specific long runner high revving
Exhaust Manifold Cast Iron
Valvetrain DOHC (Dual Overhead Cam), 32V
Pistons Forged Aluminum
Connecting Rods Forged H-Beam
Ignition Distributor-less coil plug design
Bore X Stroke 3.55 in. x 4.17 in.
Displacement 330 Cubic Inches/5.4L
Compression Ratio 9.6:1
Engine Control Sytem PCM
Horsepower 385 @ 6,250 RPM
Torque 385 LB/FT of Torque @ 4,250 RPM
Recommended Fuel 93 Octane
Fuel Delivery Electronic Fuel Injection
Oil Capacity 8.5 Quarts 15W-50 Full Synthetic w/Oil Filter 3K Mile Intervals
Redline 6,500 RPM


New Edge Mach 1 Mustang

2003-2004 Mach 1 4.6L 32V V8 "Shaker"

In the Mustang community, few models are more synonyms as Mach 1, sleek lines, and wide stance give it a look that helps it feels it's going 100 MPH standing still. It was nearly thirty-five years that a Mach 1 had been available to enthusiasts, so Ford knew it was pivotal to bring an iconic nameplate back to the Mustang lineup. Using many lessons learned from SVT and the past Cobra models, engineers would implement the 4.6L 32 valve V8 that had been a significant success since 1996. To give it the trademark Mach 1 treatment of style and performance, Mustang engineers made it a critical priority to design a modern interpretation of ram-air "Shaker" performance to give it the signature muscle a Mach 1 deservers but increase the efficiency of the modular engine.

With the combination of revised cylinder heads and the stout aluminum modular block, the Mach 1 became the little brother to the infamous Terminator. This stallion produced a whopping 305 horsepower at 5,800 RPM and 320 lb/ft of torque at 4,200 RPM; customers could choose from a four-speed automatic transmission or a 5-speed Tremec TR-3650 which any enthusiast would tell you is the one to have. Bringing everything together between the styling, striping, and all-out performance, the New Edge Mach 1 did a lot of justice to pay respects to its original counterpart. Throughout the years, Team Steeda has seen many enthusiasts upgrade their 2003-2004 Mach 1 with a Vortech Supercharger, long-tube headers, and upgraded suspension to enhance the driving experience.

We are very much looking forward to what the all-new 2021 Mustang Mach 1 has to offer in the coming year. It will be exciting if it can live up to its predecessors like the New Edge did to the 1969 and 1970 Mach 1 Fastback.

You can find the " Shaker" 4.6L 32V V8 Engine in the following Mustang models:

  • 2003-2004 Mustang Mach 1

2003-2004 Mustang Mach 1 Shaker 4.6L 32V Specs

Measurement Technical Specification
Configuration Aluminum block and heads
Intake Manifold Composite single runner Shaker
Exhaust Manifold Cast Iron
Valvetrain DOHC 32 Valve
Pistons Cast aluminum
Connecting Rods Forged
Ignition Distributor-less with coil on plug design
Bore X Stroke 90.2mm X 90mm
Displacement 4.6L/281 Cubic Inches
Compression Ratio 10.1:1
Engine Control Sytem PCM
Horsepower 305 @ 5,800 RPM
Torque 320 LB/FT of Torque @ 4,200 RPM
Recommended Fuel 93 Octane
Fuel Delivery Electronic Fuel Injection
Oil Capacity Six Quarts 5W-20 w/Oil Filter 3K Mile Intervals
Redline 6,500 RPM


Terminator Cobra New Edge

Cobra "Terminator" 4.6L 32V Supercharged V8

In the history of modern American muscle and Mustangs, there isn't a more famous model than the 2003-2004 Terminator Cobra. This venomous beast from hell is still today revered as one of the most mental and craziest creations ever to come out of Dearborn. In the American automotive community, it has been said the Camaro stopped production solely to how the Cobra took the world by storm. Unlike all the previous Cobra models in past years, the "Terminator" was the first to feature a roots style supercharger of 1.9L forcing as much air and fuel into the hand-built 4.6L 32V V8 to create a staggering 390 horsepower at 6,000 RPM and 390 lb/ft of torque at 3,500 RPM. During the early 2000s, it was one of the most potent and obscene sports coupes on the planet. Some say in the enthusiast community that some Terminator engines made more power than others, for instance, in a case found, an owner could pull 420 horsepower stock out of the engine when running on the dynamometer.

It truly began a trend for all other competition to follow, including the successors it would have like the 2007 Shelby GT500, Shelby GT350R, and 2020 Shelby GT500. All of these incredible beasts from SVT and Ford Performance are a tribute to the engineering and prowess that the Terminator legacy started. Like its predecessors, the Terminator began the notion that significant power is easy to come by with a few simple modifications. Since each Terminator engine was hand-built, many enthusiasts never knew how much power they were getting. Due to this, the Mustang community still aspires to own the most famous Cobra ever built other than the 2000 Cobra R.

Cobra Terminator Sonic Blue

While the Cobra faithful enjoyed 390 horsepower from the factory, enthusiasts can never leave anything alone. To push the Terminator even further, we have seen limits being pushed by bolting on a massive Whipple Supercharger, mono blade throttle body, long-tube headers, custom tune, exhaust and twin-disc clutch to handle upwards of over 600 horsepower to the wheels. Some have even been to make almost 800 horses with factory internal components with proper tuning and fuel management.

Unlike the previous Cobra models, the 2003-2004 Cobra came equipped standard with Tremec's infamous T-56 6-speed manual transmission, which was Ford's first entry into a six-speed gearbox in any vehicle from the factory. It provided much need support in the driveline to efficiently and smoothly get all those lethal ponies to the ground. Chances are if you're at your local car meet or show you can spot a Terminator just by the immense supercharger whine coming from far down the road. At Steeda, we still think this is one of the baddest additions to every hit the Mustang lineup in history!

You can find the "Terminator" 4.6L 32V Supercharged V8 Cobra models:

  • 2003-2004 Cobra "Terminator"
  • 2003-2004 Cobra "Terminator" Convertible

Cobra Terminator Engine Bay


Cobra "Terminator" 4.6L 32V Supercharged V8 Engine Specs

Measurement Technical Specification
Configuration Cast aluminum block and heads
Intake Manifold 1.9L Eaton Roots Style Supercharger
Exhaust Manifold Cast Steel headers
Valvetrain DOHC 32V
Pistons Cast aluminum
Connecting Rods Forged aluminum
Ignition Distributor-less with coil on plug design
Bore X Stroke 3.55 in X 3.54 in
Displacement 4.6L/281 Cubic Inches
Compression Ratio 11.0:1
Engine Control Sytem PCM
Horsepower 390 @ 6,000 RPM
Torque 390 LB/FT of Torque @ 3,500 RPM
Recommended Fuel 93 Octane
Fuel Delivery Electronic FUel Injection
Oil Capacity 6.5 quarts 5W-30 Full Synthetic (3,000-mile service interval)
Redline 6,500 RPM



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Image Credit: Ford Motor Company, Ford Performance, SVT Performance




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