Over the following years, the package was available with various engines that became more modest as emissions controls, unleaded gas, fleet mileage quotas, and higher gasoline prices undercut the "horsepower wars" that were the origin of the option.

It included visual and performance-enhancing items such as matte black hood treatment with hood pins, hood scoop (including optional Shaker scoop), competition suspension, chrome pop-open gas cap, revised wheels with Goodyear Polyglas tires, chrome exhaust tips (except 351W 2V), deluxe interior, factory or dealer optional chin spoiler, rear deck spoiler, and rear window louvers (SportSlats).

Standard equipment was a 351 cu in (5.8 L) Windsor (351W) 2V 2-barrel engine with a 3-speed manual transmission, and a 9-inch (23 cm) 28 spline open rear axle.

Standard on Mach 1s was a non-functional hood scoop that had turn-signal indicator lights on the back visible to the driver.

The interior featured simulated teak wood grain details, full sound-deadening material, and high-back sport bucket seats.

In 1968, racecar drivers Mickey Thompson and Danny Ongais took three Mach 1 Mustangs to the Bonneville salt flats for a feature in Hot Rod magazine, in the process setting 295 speed and endurance records over a series of 500-mile and 24-hour courses.

These included single dual-beam headlights with the position of the previous inner high-beam lights becoming sport lamps, the taillights were recessed on a black honeycomb rear panel, the simulated side scoops behind both doors were removed, the bucket seats were revised, new deep dish sports wheel covers, while the side and rear badging and striping were new.

Buying the optional "Drag Pak" 3.91 (V) or 4.11 (Y) rear gears turned either 429 into a "Super Cobra Jet", with a solid lifter cam, Holley 780cfm carb and special rotating assembly with forged pistons.

The basic hood had non-functional NACA-style submerged ducts, but when ordered with the Ram Air option, it became functional.

The lower body accent paint and bright trim were gone and the entire car was one color from top to bottom.

[18] The downsized vehicle – fitted with a 105 hp (78 kW) 2.8 L V6 as a base engine – outsold the Mach 1 models of the previous four years.

[citation needed] A substantially detuned 302 Windsor began as an option in 1975, rated at 140 hp (104 kW) and 240 lb⋅ft (325 N⋅m) of torque.

Following the departure of the Fox chassis in 1993 and the arrival of the SN-95 in 1994, Ford also sought to eliminate the 302, a bored and stroked version of a V8 originally introduced in 1961, which would not occur until the 1996 model.

[21] Drawing on its newly developed OHC architecture engines known as the Modular, SVT created the 1996 and up Cobra around several variations of the 32 valve, all-aluminum 4.6 liter (281 CID) V8.

With GM's withdrawal from the "Pony Car wars" in 2002, Ford had a free hand at the whole market, but created what was arguably the fastest stock Mustang up to that point in time with the 2003–2004 SVT Cobra.

However, concerns over a price gap between the GT and Cobra, as well as interest in keeping sales up before the release of the all-new 2005 S197 Mustang prompted the creation of two unique mid-range performance models: The 2001½ Bullitt GT and the 2003 and 2004 Mach 1 both credited to Team Mustang led by Art Hyde and Scott Hoag.

While similar to the Bullitt in the use of the Cobra's 13 in (330.2 mm) Brembo front brake rotors, unique Tokico gas shocks and struts, and lower and stiffer springs, the Mach 1 received a huge performance gain over the base GT and even the 265 hp (198 kW) Bullitt in the form of a unique variant of the DOHC 32-valve 4.6 L Modular V8.

A retro-themed interior was included with well-bolstered dark grey leather seats featuring 1970s-style "Comfort Weave" textures, a 1970s-style gauge cluster, and a machined aluminum shift ball.

An optional 18G interior upgrade package included stainless steel pedals, a 4-way head restraint, aluminum finished shift boot trim ring and door lock posts, and aluminum-look bezels on the dash.

While physically identical in placement and function (the scoop is said to be built on the same tooling as the 1970 Mach 1) it only provides a portion of air to the engine routing to the airbox ahead of the MAF.

The 2003 models were available in Black, Dark Shadow Grey Metallic, Torch Red, Zinc Yellow, and Oxford White, with Azure Blue exclusive to the Mach 1.

With improvements in power and a relatively light curb weight of 3,380 lb (1,533 kg), the 2003 Mustang Mach 1 posted magazine test numbers that were impressive given its $29,305 price tag.

[23] Limited in production, the 2003 and 2004 Mach 1s ended with the New Edge body platform, the discontinuation of the Fox framed unibody, and the introduction of the first new frame design since 1979 the s-197 with 9,652 2003's[24] and 7,182 2004's[25] being built, contrary to the Mach 1 originally being advertised as a one-year limited run model with production set at 6,500 cars.