1996 was the first year for the 4.6L Modular V-8. The GT model was a SOHC at 215 horsepower, and the Cobra model was a 32-valve DOHC at 305 horsepower. Taillights in 1996 were changed to a vertical tri-cell design more like first generation Mustangs. The V-6 Mustangs got 150 horsepower--up five from the previous two years.

Bright Tangerine was a limited-run color in 1996. Only 829 were produced, and all were GTs. Visit the Yellow Mustang Registry for more info on Tangerine 'Stangs.

SVT Cobras came in four colors: Laser Red, Crystal White, Black, and Mystic. Mystic was a color-changing paint. Depending on the angle of the light, the cars could look green, purple, or bronze. Mystic is an expensive color. A bottle of touch-up paint is $35, and can only be obtained through licensed SVT dealers. The reason for the markup is that Mystic was developed by BASF, and the green used to make it is the same green used to make U.S. paper currency. Visit MysticCobra.net for more information.