1994 was the first year for the fourth-generation Ford Mustang. These "SN-95" cars were based on an upgraded version of the Fox Body platform from the previous generation. The 5.0 V8 engine was also kept but was upgraded for the Cobra by using unique intake manifolds, cams, fuel injectors, and heads. These changes upped power from 215 to 240 horsepower.
All these changes helped sales, with Ford selling over 123,000 Mustangs in 1994. It won Motor Trend's Car of the Year honors and was picked to pace the 78th Indianapolis 500. 1,000 Cobra Convertibles were produced to celebrate the honor, all of them built with a Rio Red exterior with Saddle Brown leather interior. This was the third time the Ford Mustang had paced the Indy 500, once with the original Mustang in 1964 and the first year for the Fox Body in 1979.
Our car is #322 out of these 1,000 Pace Cars. It remains in factory fresh condition with just over 50 miles since new. It was sold new by Performance Ford in Tampa for a grand total of $26,845. Today it lives in the museum collection with almost 50 other Indy 500 Pace Cars, including the other two Mustangs that paced the race.