
The Mustang moves to a new platform, the S197, a modified version of the DEW98 rear-drive platform with independent suspension that's shared with the new T-Bird and the Lincoln LS. The base six cylinder and the GT will get a live axle (and a panhard bar) with the Cobra continuing with the independent rear suspension.
The base engine is Ford's 4.0L SOHC V6 producing 202 HP. The GT will get a three-valve SOHC 4.6L with 300HP (still running on 87 octane) with the same five-speed manual as before.
The Cobra will be introduced in the '06 model year with over 400HP and a six-speed. A sequential shifter manumatic is possible.