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Long before the modern, grand tourer-esque S550s and upcoming S650 Ford Mustangs you see today, Ford built the S197 and SN95 pony cars. While the fourth-generation Mustang didn’t have the Ian Callum-inspired lines of the S550 or the retro bodies of the S197, the SN95 offered a few seriously cool editions for you to consider, like the Cobra Mustang and 2001 Bullitt. 

What does SN95 stand for on a Mustang?

The ‘S’ in SN95 stands for “Small” or “Specialty Market.” Moreover, the ‘N’ indicates North American Operations, and the numbers ‘95’ refer to the numeric position in Ford’s vehicle projects. 

According to MotorTrend, the SN95 is Ford’s code for the fourth-generation Mustang. The SN95 followed the long-running third-generation car, which many fans and collectors refer to as simply Fox Body. The fourth-gen car got an update to the Fox platform and, thank goodness, didn’t go with a derivation of the Ford Probe’s front-wheel drive (FWD) application. Instead, the fourth-gen Mustang got the correct formula of rear-wheel drive and an engine up front.  

The SN95, with its Fox-4 platform, ran from 1993 to 2004. Moreover, the fourth-generation pony car hosted several special editions, from Dark Highland Green movie tributes to supercharged SVT Cobra Terminators.  

Which Mustangs editions are SN95s?

The SN95 featured several special edition cars. Here’s a list of some of the most exclusive pony cars from the fourth generation:

  • SVT Cobra
  • Cobra R
  • Bullitt
  • Mach 1
  • SVT Cobra Terminator
A 2001 Ford Mustang Bullitt is one of the special editions from the SN95 generation, just like the Cobra Mustang.
2001 Ford Mustang Bullitt | National Motor Museum, Heritage Images, Getty Images

The moniker most synonymous with fourth-gen Mustang performance is the Cobra. Ford produced Cobras throughout the SN95’s run, from 305-horsepower models in the late 1990s to the 390-horsepower supercharged Terminator. Additionally, the Dark Highland Green 265-horsepower 2001 Bullitt was the first homage to the 1968 film by the same name. Finally, the 305-horsepower Mach 1 paid tribute to the Mach 1’s of old with classic script and a shaker hood. 

How much is an SN95 worth?

Many SN95 models are affordable projects or toys, depending on mileage and edition. Early SN95s sell for as little as $5,000, with more collectible models demanding more. For instance, the 1998 Ford Mustang Cobra has a KBB fair purchase price of about $11,970 with 50,000 miles.

Still, special editions like the Bullitt and Mach 1 demand a higher premium, but they’re quite affordable compared to newer performance cars. For instance, the 2001 Bullitt has a fair value of around $15,122 with about 50,000 miles. Moreover, the venerable 2003 Mach 1 will cost about $16,368 with similar mileage. 


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However, the SVT Cobra Terminator is one of the most collectible models from the fourth-gen lineup. According to KBB, a 50,000-mile Terminator has a value of about $25,474. 

Is a New Edge an SN95 Mustang?

The “New Edge” Mustang refers to the post-facelift SN95 Ford Mustang from 1994 to 2004. The New Edge cars adopted more aggressive exterior styling and hosted special editions like the Bullitt, Mach 1, and Cobra Terminator. 

What’s your favorite fourth-gen Mustang edition? Tell us in the comment section below!