Though maintaining its traditional brand rivalry with the Cadillac Eldorado, the Mark VIII was also developed to become more competitive against luxury coupes from automakers around the world.

Growing slightly in size (primarily in wheelbase), the Mark VIII was developed with independent suspension for all four wheels; at the time, the only other rear-wheel drive American cars to do so (alongside the Thunderbird and Cougar) were the Chevrolet Corvette and Dodge Viper RT/10.

Having seen designs of upcoming models from competitors, Ford ordered a radical redesign, a departure from any previous Lincolns, while retaining styling cues.

By November 1988, under Ford designer Kyu Kim, Ford presented a design named "Stretch I", featuring scalloped sides, full length taillights, the spare-tire hump, waterfall grille, small C-pillars, a full-length headlight setup, two air inlets on the front bumper, taillights that flowed upward on the sides rather than downward on the production car — and devoid of chrome.

As a result, "Stretch II" was created during early 1989, by adding chrome in several places and moderately revising the front and rear end treatments.

The final design freeze of the FN-10 Mark VIII occurred, scheduled for an April 1992 start of production and June 1992 launch as a 1993 model year vehicle.

The Mark VIII featured unibody construction with a high-strength roof,[8] heavy-gauge steel door beams to protect against side impacts, front and rear crumple zones, dual front-side airbags, and four-wheel antilock disc brakes.

Options included a power moonroof, electrochromic automatic dimming mirrors (which filtered out headlight glare from behind), an AM/FM stereo-CD player, a 10-disc CD changer, and a JBL speaker system.

The LSC featured unique body colors, distinct rear decklid badging, perforated leather seat inserts, and floor mats.

It featured "Diamond Anniversary" badging, leather seats, voice-activated cellular phone, JBL audio system, auto electrochromatic dimming mirror with compass, and traction control.

In the fall of 1996, the Mark VIII received a significant facelift since its 1992 debut, featuring smoother, more rounded front and rear fascias and a larger grille.

Side mirrors now came with puddle lamps, which, upon unlocking the doors, illuminated the ground for the driver and passengers to see when entering the car.

The 4.6 L (280 cu in) InTech V8 carried on as before, but now came with a distributorless coil-on-plug ignition system, eliminating the use of high-voltage spark plug wires.

[13][14] Toward the end of Mark VIII production, Lincoln offered two personalized "specialty" models: the Spring Feature and the Collector's Edition.

[citation needed][19][20][21] In 1996, Michael Kranefuss built a prototype stock car for potential competition in the NASCAR Winston Cup Series ahead of the announcement that the Ford Thunderbird would be discontinued after 1997.