Marking the first major redesign of the Ford Mustang in fifteen years, the fourth generation of the pony car was introduced in November 1993 with the launch taking place on December 9, 1993.

[1] A convertible model returned, but the previous notchback and hatchback bodystyles were discontinued in favor of a conventional 2-door coupe design.

Prior to the redesigned Mustang's launch, a two-seater show car was designed by Darrell Behmer and Bud Magaldi.

While this engine was not put into production, it hinted to the future use of Ford's Modular V8 in the Mustang, including the eventual use of a supercharged 4.6 L variant.

Efforts were made to improve the car's handling as well as noise, vibration, and harshness (NVH) conditions over the previous generation Mustang.

The Mustang's cabin featured a "dual-cockpit" layout that was adorned with contours and sweeping curves, similar to other Fords of the time such as the Thunderbird.

The preferred equipment package came with power windows, mirrors, and door locks, remote keyless entry, air conditioning, cruise control, and a trunk cargo net.

Ford carried over the 302 cuin pushrod small-block V8 engine (called the "5.0 L" although its actual displacement was 4.94 L) from the 1993 Mustang GT.

Though capable of matching or exceeding the older 302 V8's output, the 4.6 L V8 was criticized for delivering inadequate performance, particularly against the larger displacement of the OHV V8 used in the Mustang's chief rival, the Chevrolet Camaro.

The 1996–1998 Cobras were powered by Ford's modular 4.6 L DOHC V8 like the Mustang GT which produced an advertised 305 hp (227 kW; 309 PS) and 300 lb⋅ft (407 N⋅m) of torque.

Characterizing the redesign was Ford's New Edge design language, which featured sharper contours, larger wheel arches, and creases in the bodywork, replacing many of the soft lines of the previous model.

[18] For 1999, the Mustang also received a change to its taillights, making them edgier, with sharp corners and straight lines as opposed to the rounded off style of previous years.

Minimal changes occurred from year-to-year, with the most noticeable being a redesigned center panel in the dashboard for 2001, which now allowed double-din stereo head units, including an in-dash six-CD player.

It also featured independent rear suspension which changed the route of the exhaust pipes, forcing them to go under the axle which provided a unique look compared to the base and GT models.

In 2003 and 2004, the Cobra Terminator gained a supercharged engine rated at 390 hp (291 kW; 395 PS), with a more aggressive front and rear fascia, better-bolstered seats with angle adjustable headrests, and unique 18-inch wheels.

Factory upgrades included a lowered suspension (3/4 inch), subframe connectors (used on the convertible models), Tokico shocks, and brakes from the Cobra (13 in front, 11.7 in rear).

The car also received similar suspension upgrades as the Bullitt including unique Tokico struts on the rear and the convertible-spec subframe connectors.

As an $895 option available in both Standard and GT editions, coupe or convertible, it consisted of 40th Anniversary badging, enhanced interior with "40th Anniversary" floor mats, painted folding exterior mirrors from the Cobra models, a tan cloth convertible top (instead of canvas), Arizona Beige painted "Bullitt" wheels, and Arizona Beige stripes on the hood, trunk and lower bodysides.

This possible Canada-only variation also features 2003 Cobra wheels, no hood stripes and 'Mustang' decals on the lower-body side panels under the doors.

[23] Ford celebrated its 100th anniversary in June 2003, and made limited edition F-Series Super Duty trucks, Explorers, Taurus, Focus, and Mustang GTs to commemorate the event.

The 100th Anniversary models only came in black and included Premium Verona-grain Imola leather seating surfaces in two-tone parchment, and the Mustang got the GT premium package which included 17-inch wheels, anti-lock brakes and traction control; dual exhaust; power driver's seat with power lumbar support; leather-wrapped steering wheel; and Mach 1000 or Mach 460 AM/FM Stereo with six-disc CD changer, as well as 40th Anniversary badges on the fender and decklid and embossed on the seats.

[24] This generation was sold in Australia for two years from 2001 to 2002 as to compete against the Holden Monaro (which eventually became the basis for the reborn Pontiac GTO).