1982: 5.0L High Output V8 introduced to GT producing 157hp/240 lb-ft. Two-barrel carburetor, restrictive emissions equipment. T-top roof option, revised exterior graphics. Performance modest but established foundation for future development addressing fuel crisis constraints.
1983: Power increased to 175hp/245 lb-ft through four-barrel carburetor adoption, revised camshaft timing. TRX suspension package optional featuring metric wheels and Michelin TRX tires. Convertible body style returned after decade absence.
1984: SVO variant introduced with turbocharged 2.3L four-cylinder. GT maintained 175hp specification. 20th Anniversary Edition celebrated with Oxford White paint, Canyon Red interior. Rare turbocharged four-cylinder option offered limited appeal versus 5.0 V8.
1985: Continued 175hp 5.0L specification. Sequential electronic fuel injection replaced carburetor improving drivability, cold starts, emissions compliance. T-top option discontinued. Growing aftermarket support enabled basic modifications achieving 225+ horsepower.
1986: Final year before major facelift maintaining 175hp output. Quad-headlight front fascia, louvered quarter glass. GT production peaked as enthusiasts anticipated substantial 1987 updates creating buying pause affecting sales.
1987: Major facelift: aerodynamic front fascia, flush quarter glass, revised taillights, redesigned interior/dashboard. Engine upgrades: E7TE heads, forged pistons, recalibrated injection achieving 225hp/300 lb-ft - transformative 50hp increase. Turbine-style 15-inch wheels, lower body skirting.
1988: Continued post-facelift specification with 225hp 5.0L. Optional all-disc brakes improved stopping power. Growing drag racing popularity established Fox Mustang as quarter-mile dominant platform. Increasing insurance costs affected younger buyer accessibility.
1989: Mass air flow metering system replaced speed density computer simplifying modifications, improving drivability. T-top option permanently discontinued. 225hp specification maintained. Street racing culture peaked with 5.0 Mustang becoming icon.
1990: Limited changes maintaining 225hp output. Available driver-side airbag addressing safety regulations. Continued strong sales despite aging platform and intensifying Japanese sports car competition from Nissan 300ZX, Mazda RX-7.
1991: V8 models received new 16-inch five-spoke 'Pony' wheels. Revised convertible top folding mechanism. Base price exceeded $10,000 first time. Sales declined as platform showed age against Camaro/Firebird fourth-generation development.
