To improve the aerodynamics of the exterior, the front fascia underwent a substantial revision to its design.

The 1994 models brought a slightly updated dashboard and the addition of a standard driver's-side airbag on F-150s and light-duty F-250s only, center high mount stop lamp (CHMSL), brake-shift interlock, and CFC-free air conditioning.

New options for 1994 included remote keyless entry with alarm, a compact disc player fitted into the regular stereo system, and a power driver's seat; an electrochromic inside rear view mirror was also offered for 1994 and 1995 as part of a luxury light package.

The monochromatic "Nite" package introduced in 1990 continued but was dropped at the end of the 1992 model year.

As before, it featured an all-black exterior with either a pink or blue/purple stripe and "Nite" decal on the sides of the cargo box.

Ford Special Vehicles Team upgraded the Lightning from the regular F-Series with heavier-duty components, including a beefier frame, suspension, and brakes; a 240 hp version of the 5.8L V8; and the E4OD overdrive transmission normally paired with the 7.3L diesel and 460 7.5L V8 options.

From 1993.5–1994.5, a turbocharged 7.3L IDI V8 with stronger internals was offered as emissions, power, and torque demands were increasing.

As a running change during the 1994 model year, Ford revised the exterior of its medium-duty trucks for the first time since their 1980 redesign, beginning with the F-800.

While medium-duty trucks were still offered with a 7.0L gasoline V8 (the 6.1L V8 was discontinued after 1991), the model line was primarily powered by diesel-fueled engines.

[citation needed] This initial Lightning featured performance handling developed by world-champion driver Jackie Stewart.

The Lightning shared its basic platform structure with the regular F-150, but modifications were made to many vehicle systems.

Like all factory 351s, the Lightning's engine was equipped with hypereutectic pistons to increase response, output and durability.

[citation needed] Additional gusseting was added to the frame at high-stress locations, such as immediately behind the front suspension and over the rear axle.

Special 17" aluminum wheels with Firestone Firehawk tires, unique Lightning badging, a front air dam with fog lamps and color-matched bumpers from the Bronco, a 120-mph gauge, and blacked-out trim all differentiated the Lightning from normal F-150s.

Bucket seats with electrically adjustable side bolsters and lumbar supports were part of the package.

[citation needed] The 1993 Lightning, launched by Ford President Ed Hagenlocker on December 15, 1992, received more than 150 favorable articles in America's newspapers, magazines, and television outlets, and helped Ford retain leadership in the personal-use truck market.

[citation needed] Three-time World Champion driver Jackie Stewart was highly involved in fine-tuning of the Lightning's handling.

Despite sharing identical displacement with its IDI predecessor, the turbocharged Power Stroke/T444E was an all-new design with direct fuel injection.