Few changes were made for the 2002 Ford Mustang aside from the addition of new color options and a new steering wheel wrap for standard Mustangs. Ford did upgrade the sound system in the 2002 Mustang GT with a powerful new Visteon Mach 1000. In the US, the standard Cobra was left off the slate again due to the release of another special addition Cobra, Ford's 2003 SVT Cobra. One Hundred 2002 Mustang Cobras, all manufactured with right hand drive, were shipped to Australia and were identical to the 2001 Mustang Cobra, with the exception of a crude extra set of fog lights between the head lights and the normal fog lights. The 2002 Saleen Mustang lineup remained steady, introducing the S-281 Extreme , which was a 425 horsepower beast. The 2002 Roush Mustang remained relatively unchanged from the previous year excluding the 360R, a Roush Stage 3 with custom graphics. Of note, sales figures dropped once again, this time to around 142,000 units.


