No Reserve: 10k-Mile 1994 Mustang Cobra Pace Car Convertible 5-Speed

This 1994 Ford Mustang Cobra Pace Car convertible is one of 1,000 examples produced for the year and it shows only 10k miles. Sold new in Illinois, the car is finished in red with a tan cloth top over a saddle leather interior. Power is provided by a 5.0-liter V8 paired with a 5-speed manual transmission, and equipment includes a limited-slip differential, dual exhaust, and a performance suspension.  This Cobra has spent the last six years in Michigan and is now offered by the selling dealer with a CARFAX report on a clean Michigan title.

The car is finished in Rio Red and dressed in Indianapolis 500 Pace Car livery, including white and black decals on the front fenders and the doors.  The tan cloth soft top is power-retractable and equipped with a glass rear window with electric defrost and a black tonneau cover. The car is equipped with fog lamps and functional air inlets on the hood and forward of the rear wheels.  Sideview mirrors are finished in black, a factory spoiler is mounted on the trunk.

Factory 5-spoke 17” high-polished aluminum wheels are mounted to 255/45 tires on all four corners.  This model has a revised front cross member and front underbody X-brace, as well as thicker steel in stress-bearing sections.  The car has anti-lock brakes equipped and upgraded suspension components over the standard GT model.

All Pace Car Editions were fitted with tan carpeting and saddle leather bucket seats.  The headrests have embroidery of the Indianapolis Motor Speedway on the front headrests while the doors and dashboard are trimmed in two-tone tan and black.  Equipment includes air conditioning, cruise control, and an AM/FM/CD/cassette deck.

Instrumentation includes SVT-branded white-face gauges with a 160-mph speedometer and 7k-rpm tachometer, along with gauges for fuel level, coolant temperature, oil pressure, and voltage.  The 6-digit odometer reads just under 10k miles, which are original to the vehicle.

The 302ci 5.0-liter V8 is original to the vehicle, and in this car’s trim level was factory-rated at 240 hp and 285 lb-ft of torque due to a unique upper and lower manifold induction system.  Power is sent to the rear wheels through a 5-speed manual transmission with a console-mounted shift lever.  The car has a solid rear axle featuring a limited-slip differential. 

Additional photos of the underside are available in the gallery.

The CARFAX report shows no accidents or damage on record.  The sale includes the factory key fob, owner’s manual, a framed display with original selling documents, and a promotional cassette tape.