No major changes marked the launch of the 2003 Ford Explorer, except for one: 5-speed manual transmission was no longer an option offered in the main Explorer line (it was still available on the Explorer Sport Trac SUV/pickup hybrid, though).

Trim choices for the 2003 Explorer included XLS, XLT, Eddie Bauer, Limited, and a new NBX trim, which focused on storage, with a roof-rack and specially designed cargo area. Four-wheel drive was an option on the XLS, XLT, Eddie Bauer, and NBX trims, and standard on the Limited trim; all-wheel drive was an option on all trims except for NBX.

The '03 Explorer continued to outsell the competition, even after twelve years on the market. Buyers and reviewers praised the roomy interiors and the agile handling (agile by sport-utility vehicle standards, at least).

Engine offerings were the same as in 2002: buyers of the '03 Ford Explorer had the choice of a 4.0 liter V-6 or a 4.6 liter Triton V-8. Gas mileage maintained its middle-of-the-pack position, with 14-17 mpg city and 19-21 mpg city, depending on model.