In 1994, the Mustang underwent its first major redesign in 15 years. The design, code named “SN-95″ by Ford, was based on an updated version of the rear-wheel drive Fox platform called “Fox-4.” It featured dramatic new styling by Patrick Schiavone that incorporated some stylistic elements similar to those on earlier Mustangs. [16] However, unlike all earlier Mustangs, a notchback coupé model was unavailable. The Mustang was named Motor Trend magazine’s Car of the Year for the third time in 1994.
The base model came with a 3.8 L V6 engine with a diplacement of 232 cubic inches (3797 cc) which was rated at (1994-1995) 145 hp (108 kW) or (1996-1998) 150 hp (112 kW), or (1999-2004) 190 hp (142 kW)[17]. After nearly 40 years, Ford retired its 302 CID overhead-valve small-block V8 and in 1996, the 4.6 liter Ford Modular engine was introduced for the first time for the Mustang rated at (215hp for 1996-1997) (225hp for 1998 model year).[18]
For 1999, the Mustang received Ford’s ‘New Edge’ styling theme with sharper contours, larger wheel arches, and creases in the bodywork, but its basic proportions remained the same as the previous redesign.