1998 Ford Mustang A boost in power without a boost in price. By Jim McCraw, New Car Test Drive .com

The Mustang is lucky to have survived Ford's model purge that ousted the Thunderbird, Probe, Aspire and Aerostar last

spring. Lucky, because it has a huge following, an even bigger aftermarket, and a legend that none of those other

now-dead (model) brands can match. The Mustang is an icon that, having escaped the axe in 1988, has lasted another

10 years by following a simple formula: cheap, quick, fast, and cute. The changes made to the car for 1998 are minimal,

including the attractive pricing.

The Mustang has only two true competitors, the Chevrolet Camaro and the Pontiac Firebird - the other two members of

the ponycar segment. Like the two GM ponycars, the Ford Mustang comes in many guises. There are V6 and V8 versions in

both coupe and convertible body styles along with the Cobra, a super-performance model that competes against the Camaro

SS and the Firebird Ram Air. There are Japanese and Korean coupes that compete with the Mustang on price, but certainly

not on performance.

The Mustang offers a 3.8-liter V6 with 150 horsepower and 215 foot-pounds of torque, for $17,020, and a V6 convertible

for $21,520. The GT, powered by a 4.6-liter, single overhead-cam V8 rated at 225 hp and 290 lbs.-ft. for 1998, starts

at $21,020 for the coupe and $25,020 for the convertible. A 32-valve, double overhead-cam 305-hp V8 is exclusive to

the $26,680 Cobra and $29,480 Cobra convertible.

The engines are backed by either a standard 5-speed manual or an optional 4-speed automatic overdrive transmission,

except for the Cobra, which only comes with a manual gearbox. Air conditioning is now standard on GT models. Tires on the

GT now carry an H-speed rating, a step down from the Z-rated tires last year. Another change is the leather interior

package that includes front bucket seats only, a change made in the name of affordability.