In 2001, a hood scoop similar in design to the 35th anniversary scoops, and non-functional side scoops were added to GT models, and made optional on the V6 as part of a "pony package." Smoked headlights from the Cobra R and a new deck wing replaced the old chrome look headlights and the sweeping wing.
As electronic engine management and emissions technology developed, so too did performance. The lone remaining 1960s muscle car marques; Mustang, Camaro and Firebird, all grew in power and handling better than the cars that preceded them. With the end of production of the Camaro and Firebird lines in 2002, only the Mustang remains as the sole survivor of the pony car era.
Debuting in Spring 2002 as a 2003 model, the Cobra returned, this time with vastly increased power and handling. Dubbed during development as the "Terminator" Cobra, it received a T56 6-spd transmission coupled with a supercharged 4.6L DOHC V8. Due to the reduced power handling capability of the new WAP aluminum blocks, these new Cobras used the GT's cast iron engine block. Power was rated at 390 hp (290 kW). Muscle Mustangs & Fast Fords and other Ford-themed magazines have performed dyno tests on several Cobras that put down rear-wheel power numbers in excess of 380 hp, which would suggest actual flywheel power to be around 450 hp. This amount of power meant that the 2003 Cobra was capable of mid-12-second quarter-mile times right off the showroom floor.
Source: Wikipedia
