For 1994, the Mustang underwent its first major redesign in 15 years. The new design, code named "SN-95" by Ford, was still based on the "Fox" platform, but featured dramatically new styling by Patrick Schiavone that incorporated some stylistic throwbacks to earlier Mustangs. The car remained rear-wheel drive. It greatly revived the popularity of the brand. The base model came with a 3.8 L V6 engine rated at 145 hp (108 kW) while the GT featured the "5.0" 4.9 L V8, which now utilized the 5.0L Thunderbird intake manifold and a larger, 60mm throttle body, and was now rated at 215 horsepower.
The successful Cobra model also returned, with its GT-40 equipped 5.0 L engine, now rated at 240 hp (179 kW), the extra 5 horsepower coming from a 70mm throttle body. The Mustang Cobra convertible was selected as the Pace Car for the Indianapolis 500, making it the third time that the Mustang had enjoyed such an honor. One thousand replicas were built and sold through select dealers. Larger brakes, a different transmission, and suspension modification followed. The Mustang was named Motor Trend magazine's Car of the Year for the third time in 1994.
Source: Wikipedia
