The 2002 Ford Mustang gave more choices to its fans: new colors, new radios, and new packages with new stripes. The engine choices were pared down a bit, as the Cobra was not offered in this model year, with Ford instead choosing to build up for the 2003 release.

The standard engine was a 3.8-liter OHV V6, rated at 193 horsepower, while the GT was offered with a 4.6-liter SOHC V8, rated at 260 horsepower. The Saleen earned a 285-horsepower rating, but was, of course, intended to be tuned. A Series V twin-screw supercharger could give the machine over 425 horses!