The March 2002 issue of Motor Trend has a write-up of the new 390 HP 2003 Cobra that will begin production in the spring of 2002. Will this be the affordable Mustang that will finally have the power to compete with C-5 or Z06 Corvette, or will it be overpriced like the 2000 Cobra R? According to the article, Ford engineers claim the 03 Cobra will run almost 110 MPH in the quarter. Motor Trend is confident of sub-5-second 0-60 runs. Finally, the power all Mustang enthusiasts want from the factory, and according to the article the price is not going be much higher than the 01 Cobra. It may be just under $35,000.
Also, according to the article, it looks like the engine will get upgraded engine internals. Manley connecting rods were mentioned, as well as new designed pistons? (forged?) It will also receive a T-56 6-speed manual transmission, an aluminum flywheel, an aluminum driveshaft, and Bilstein struts/shocks. Below are the specs listed according to the article.