2004 Ford Mustang
The 2004 Ford Mustang ended the fourth generation with 40th Anniversary editions, the Mach 1 and the 390 hp SVT Cobra.
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2004 Ford Mustang GT 40th Anniversary. Photo: Zytonits via Flickr, CC BY-SA 2.0.
Overview
The 2004 Ford Mustang was the final year of the fourth generation and marked the Mustang’s 40th anniversary. It carried over the lineup of the 2003 Ford Mustang, including the V6, GT, Mach 1 and supercharged SVT Cobra, before the all-new 2005 Mustang arrived.
To celebrate 40 years, Ford offered a 40th Anniversary package for about $895, with special badging, unique paint and Arizona Beige accents on the wheels and body. Ford also built 4,558 cars in an exclusive Crimson Red color for the anniversary year, and every SVT Cobra wore a 40th Anniversary badge on the fender.
The performance models continued unchanged. The supercharged SVT Cobra “Terminator” was rated at about 390 horsepower, the Mach 1 at about 305 horsepower and the GT at about 260 horsepower. During the year, the base 3.8-liter V6 was replaced by a 3.9-liter version with the same rated output, used only for this half-year before the 2005 redesign.
Production included 7,182 Mach 1s and 5,664 SVT Cobras. The last fourth-generation Mustang was built on May 10, 2004, closing a chapter that began with the 1994 SN-95. For more background, see the fourth-generation Mustang history, or look back 40 years to the 1965 Ford Mustang.
2004 Mustang timeline
- 2002Earlier development
- 2003Previous model year
- 2004Featured model year
- 2005Continued evolution
Engine options
| Engine | Type | Horsepower | Torque | Fuel / induction | Notes |
|---|---|---|---|---|---|
| 3.8L / 3.9L Essex | V6 | Approx. 193 hp | Sequential fuel injection | 3.9L replaced 3.8L during the year | |
| 4.6L SOHC modular | V8 | Approx. 260 hp | Sequential fuel injection | GT engine | |
| 4.6L DOHC Mach 1 | V8 | Approx. 305 hp | Sequential fuel injection | Mach 1 | |
| 4.6L DOHC supercharged SVT Cobra | V8 | Approx. 390 hp | Approx. 390 lb-ft | Sequential fuel injection, supercharged | SVT Cobra |
Specifications at a glance
Production
- Mach 17,182 (55.9%)
- SVT Cobra Coupe3,768 (29.3%)
- SVT Cobra Convertible1,896 (14.8%)
Dimensions
Original colors
Color research in progress.
Performance
Buyer’s guide highlights
- Check the floors, rear frame rails, rocker panels and strut towers for rust and accident damage.
- Verify a claimed 40th Anniversary car, Mach 1 or SVT Cobra with documentation.
- Check 40th Anniversary badges, paint and Arizona Beige accents for originality.
- On SVT Cobras, check the supercharger, clutch and records, since many have been modified.
- Inspect convertible tops, seals and floors for leaks.
- Buy on condition and originality, since final-year special models carry a premium.
1. Check for Rust and Accident Damage
Look at the floors, rear frame rails, rocker panels and strut towers of any 2004 Ford Mustang, and check for signs of accident repair.
2. Authenticate Special Models
The SVT Cobra, Mach 1 and 40th Anniversary cars are the most collectible 2004 models. Check the VIN, window sticker and model-specific parts.
3. Check the Supercharged Cobra
Ask about modifications and maintenance, and check the supercharger, clutch and six-speed transmission.
4. Inspect Convertibles and Interiors
Check convertible tops, seals and floors, and look for worn leather and dash wear.
5. Buy the Best Example You Can
Original, documented final-year cars are the best long-term buys.
Values
2004 Ford Mustang values are highest for original SVT Cobras and Mach 1s, followed by 40th Anniversary GTs; V6 models remain affordable.
Market references are research guides, not appraisals. Actual value depends on condition, originality, documentation, drivetrain, options, location and current buyer demand.
