The automotive world is constantly buzzing with news of record-breaking sales and groundbreaking new models. January 2019 was one such landmark month for Mustang enthusiasts. Ford unveiled the monstrous 2020 Shelby GT500, boasting over 700 horsepower, becoming the most powerful production Ford ever. Simultaneously, a pristine 1967 Shelby GT500 Super Snake fetched a staggering $2.2 million at auction, the highest price ever paid for a Mustang publicly. Adding to the excitement, a virtually untouched 1993 Mustang SVT Cobra R achieved a record $132,000 for a Fox-body Mustang at Barrett-Jackson Scottsdale.
Amidst these headline-grabbing events, one might overlook a Mustang that, while incredibly potent and rare for its time, often flies under the radar in terms of value: the 1995 Cobra. Specifically, the 1995 Ford Mustang SVT Cobra R, a factory-built race special, can often be acquired for less than its original sticker price. This begs the question: why does this exceptionally capable and exclusive Mustang, the most formidable of the 1995 lineup, not command the same soaring prices as its brethren? For those who wisely preserved their low-mileage, un-raced 1995 Cobra R models as investments, the current market might present a complex picture. The original MSRP of around $38,000 (including gas guzzler tax and shipping) in 1995 equates to approximately $63,000 today, slightly more than a modern Shelby GT350.
Andrew Newton, Hagerty auction editor, notes this trend, stating, “Fourth-gen Mustangs, in general, haven’t experienced significant price appreciation yet, which currently includes even special performance variants like the SVT models. We recently adjusted fourth-gen Mustang values downwards by roughly 10 percent across the board, encompassing all SVT versions. A rare factory race-oriented car like the 1995 Cobra R is undoubtedly highly collectible for Ford and Mustang aficionados, but widespread demand hasn’t fully materialized yet.”
However, the story of the 1995 Cobra R is about far more than just monetary value. Back in 1965, creating a street-legal, homologated factory racer like the original Shelby GT350R was a relatively straightforward process, unburdened by stringent modern safety and emissions regulations. Replicating this feat thirty years later presented a much greater engineering challenge. Regardless of its current market valuation, the 1995 Cobra R rightfully deserves recognition within the esteemed lineage of the Ford Mustang.
Unpacking the “R” Designation: What Sets it Apart?
Let’s clarify what the 1995 SVT Cobra R was designed to be. Despite being the apex performance Mustang in 1995, it wasn’t conceived as a direct competitor to the Chevrolet Camaro Z28. The fourth-generation Z28, launched in 1993, and powered by a potent 275-horsepower LT1 5.7-liter V8, simply outmatched the “Fox 4” Mustang GT (215 hp) and even the standard SVT Cobra (240 hp). Mustang enthusiasts seeking more power often turned to the vast aftermarket support for Ford’s iconic 5.0-liter Windsor engine.
Instead, the 1995 Cobra R embraced the spirit of the ’65 Shelby GT350R, becoming a factory-built racer that remained street legal, retaining all essential emissions and safety equipment. Mirroring the 1993 Cobra R, the 1995 model underwent a significant weight reduction, shedding air conditioning, power windows, rear seats, stereo system, sound deadening, and other non-essential amenities. But SVT went further, equipping the Cobra R with an engine not seen in a Mustang since 1973: the larger 5.8-liter Windsor V8, also known as the “351,” replacing the Cobra’s 5.0-liter small-block.
This formidable 351 engine was derived from the SVT Lightning pickup truck but enhanced for performance with higher compression (9.1:1 versus 8.8), a more aggressive camshaft profile, and a larger mass air meter. The result was an impressive 300 horsepower and 365 lb-ft of torque for the Cobra R, surpassing any factory small-block Mustang engine output to that point. A unique fiberglass hood with a prominent center bulge was necessary to accommodate the taller 5.8L engine. Power from this robust engine was channeled through a heavy-duty Tremec 3550 five-speed manual transmission, replacing the standard Cobra’s Borg-Warner T5, and paired with a 3.27:1 rear axle ratio for optimal acceleration.
The Fox 4 chassis, being inherently stronger than the original Fox platform, required minimal structural modifications for the ’95 Cobra R. The key addition was a strut tower brace for increased front-end rigidity. (The ’93 model also incorporated under-car bracing from the Mustang convertible). For track-ready handling, the suspension was significantly upgraded with stiffer, progressive-rate front springs (700/850 lbs/in) and adjustable Koni shocks, prioritizing racetrack performance over street comfort. A larger 30mm front anti-roll bar replaced the Cobra’s 25mm unit.
At the rear, the 1995 Cobra R utilized progressive-rate coil springs (200/260 lbs/in) and adjustable Koni shocks (both vertical and horizontal). The rear stabilizer anti-roll bar, measuring 27mm, was sourced from the standard street Cobra.
Braking was enhanced with vented disc brakes borrowed from the Cobra – 13-inch diameter rotors up front and 11.65-inch rotors at the rear – with added front/rear adjustability specifically for the “R” model. The fog lights present on the standard Cobra were deleted to create functional intakes for brake cooling ducts, crucial for sustained track use. The tire size remained the same as the Cobra, 255/45ZR17, but the Cobra R was fitted with track-oriented BFGoodrich Comp T/A tires instead of the street-focused Goodyear GS-C tires, mounted on wider nine-inch rims.
Despite the extensive weight reduction measures, the 1995 Cobra R still tipped the scales at 3326 pounds. The heavier 351 engine, the substantial 20-gallon fuel cell, a high-capacity two-row radiator, and other performance-oriented components added some mass back into the equation. Reflecting its racing focus, the 1995 Cobra R came with only the federally mandated emissions equipment warranty, which effectively became void once racing modifications commenced.
Limited Production and Lasting Appeal
Many of the 1993 Cobra R models ended up in private collections, rarely seeing track action. Ford aimed to ensure the 1995 SVT Cobra R reached its intended purpose. To purchase one, buyers were required to demonstrate ownership of a race team or possess a valid racing license, along with documented plans to compete in recognized series like IMSA, SCCA, NHRA, or IHRA. Production was strictly limited to just 250 units. However, despite Ford’s screening efforts, some 1995 Cobra R models inevitably found their way into collector hands from the outset.
All 250 examples were finished in Crystal White paint and featured the base Mustang cloth interior. However, for serious racers, interior trim was likely secondary to performance, destined to be replaced with racing seats and other track-focused equipment anyway. The comprehensive suite of performance upgrades was listed on the window sticker as a $13,699 “R Competition Option” on top of the base Cobra price. Ford reported that all 250 cars sold out within a mere five days, although some may have been acquired by dealerships.
The 1995 Cobra R’s performance lived up to its racing pedigree, though it still left some Mustang enthusiasts yearning for a true Z28 competitor in terms of outright power. Motor Trend recorded a 0-60 mph time of 5.2 seconds and a quarter-mile sprint in 13.8 seconds at 102 mph. While the quarter-mile was a significant improvement over the standard 5.0-liter Cobra (one second quicker and 6.6 mph faster), and slightly ahead of the Z28, it wasn’t a dramatic leap in straight-line speed. Car and Driver magazine achieved a top speed of 151 mph, slightly below the Z28 equipped with optional Z-rated tires.
Where the 1995 Cobra R truly excelled was in track handling. Motor Trend lauded its slalom performance, describing it as navigating their 600-foot slalom course “with little drama,” achieving an impressive average speed of 67.4 mph (faster than a 1995 Porsche 911 according to the magazine) while generating 0.96 g of lateral acceleration. In 1995, these were exceptional figures, especially for a car based on a platform originally engineered in the 1970s for the Ford Fairmont.
As a high-performance iteration of the Fox-body Mustang, the ’95 Cobra R effectively bridged the gap between the 5.0-liter pushrod era and the Modular overhead cam engines that followed. While it may perpetually reside in the shadow of the even more extreme 2000 Cobra R, its crucial role in the Mustang’s performance evolution and rich racing heritage remains undeniable. The 1995 Cobra “R” is a testament to Ford’s commitment to performance and a highly collectible piece of Mustang history.
