The top-of-the-line Mustang in 1994 was the Cobra, which featured more power, bigger tires, bigger brakes and a revised suspension that made it the ultimate factory Mustang. Powered by 5.0-liter V8, the Cobra was more powerful than the standard 5.0 and worked better at high RPM than the base engine, thanks to revised GT40 heads, a new intake manifold with revised runners, a different camshaft, roller rockers, a bigger throttle body, larger fuel injectors and revised engine calibration. And because of its near-revolutionary changes, the Cobra convertible was selected to pace the 1994 Indianapolis 500. Ford built 1,000 pace car replicas. By 1994, everyone knew Indy pace cars were pretty good places to park some money, and when it was a groundbreaking model like the new Mustang, many felt it was a good idea to pick one up as an investment. To find one used as a fair-weather toy and driven sparingly (just enough to keep it healthy) and not as a daily driver is rare indeed.
All pace cars had deep-bucket tan leather seats with Indianapolis 500 logos embroidered into the seat backs as part of the pace car package, along with a 5-speed manual transmission. Number 781 of 1,000 built, this example is loaded with power windows, power locks, cruise control, air conditioning and a powerful stereo system. This car was kept in a heated and air-conditioned garage, and babied all its life. Seemingly one of the lowest-mileage original survivors available today, it comes fully documented with a clean CARFAX, extra keys (still in the wrapper), owner’s manual and only 11,064 miles on the odometer. Accompanying the sale is the boot for the convertible top, a bra for the front, a car cover, a poster and 1:25 scale model of the car, the original Window Sticker and a Certificate of Authenticity from SVT Special Events Team.