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Its because of the S-rated(112 mph) 215x65x16 tires. Yes,Pony Package too.
Pony Package comes with "Z" rated tires, mine does anyhow. So the tires WILL handle the speed. I beleive rev limiters are used for a combination of reasons, wear and tear, insurance concerns, government safety standards, and Ford is deathly afraid of that piece of crap driveshaft too! Ofcourse you can overcome this with a tuner, but for all nontuners just be happy ours is 113m.p.h. because most other vehicles I drive do it at 100.
ive taken my stang around 130-140 ( i had the speedo needle completely upside down) read the "tuners section" i have a space tuner for sale, i would let it go for cheap, it REALLY makes a big power jump for automatic trannys.
Let me know