The 2003 SVT Mustang Cobra returns with an increase to its power output. The addition of a supercharger and water-to-air intercooler to the Cobra's 4.6L V8 engine increases the output to 390 horsepower and 390 foot-pounds of torque.

The Cobra is equipped with a six-speed manual transmission and a new 3.55 rear axle ratio as standard equipment. A rear spoiler is also equipped standard for this year. The interior receives new multi-adjustable front seats, trimmed in Nudo Leather and Preferred Suede. The pedals are aluminum covered, while the steering wheel and shift knob are wrapped in leather. The Cobra features a Mach Stereo system, which includes a six-disc in-dash CD player. The Cobra is available in Coupe and Convertible.