Live Auctions

1 of 107: 1994 Ford Mustang GT Pace Car Convertible

The 1994 Ford Mustang was a new chapter in the muscle car’s history, with a fresh design combined with the familiarity of Ford’s 5.0 V8. The Indianapolis 500, of course, used the 1994 Mustang Cobra as its official pace car. This isn’t a Cobra but rather a GT-spec model, and the seller has provided documentation from Ford confirming it was used as a “parade and courtesy car” at the event. Find it here on eBay with a starting bid of $12K.

At first, I had a hard time finding any sort of evidence that this lower-spec GT wasn’t just a dealer dress-up kit. Most of the references to the Pace Car involve the higher-horsepower Cobra-spec models, but apparently there were 107 GTs painted in matching Rio Red paint and used at the event. The car here has accumulated a mere 24,863 miles from new and is equipped with an automatic transmission and Pace Car graphics on the doors.

Cabin-wise, this is standard GT-spec fare with lightly bolstered leather seats and stock airbag steering wheel. The leather looks more tired than I’d expect for the low mileage and it’s disappointing to not at least see a touch more dress-up for an actual Festival car – Momo steering wheel, contrasting leather, something? Anyway, the Mustang at least comes with the upgraded audio system and the seller references a side-exit exhaust – was that standard on the Pace Cars?

The exhaust does look like it was designed that way from the factory, but I haven’t seen any indication as to other power modifications. The stock 5.0 V8 will provide reliable, respectable performance and upgrades are plentiful if you wish to change this Pace Car replica’s stock configuration. Will the value ever increase on these? In my opinion, it’s doubtful, but I applaud the seller from tracking down the appropriate documentation and including it in the photo gallery.


  1. JamestownMike

    One word describes this car perfectly………Meh!

  2. Steve R

    I’d like it better without the stickers.

    Steve R

    • JamestownMike

      AGREED! The ONLY sticker I like on a car is the TransAm “screaming chicken”.

    • 86 Vette Convertible

      Seldom do stickers ever enhance a car IMO, and this is another good example.
      They do nothing for me, but that’s just me.

  3. JamestownMike

    Other than the graphics, side ground effects with side exhaust, what’s so special?

  4. Troy s

    The “new” Mustang was a disappointment back then for us 5.0 enthusiasts, with an automatic it only got worse! I really thought Ford dropped the ball with these.
    After seeing that BOSS 429 posted today, which had me drooling, it is gonna be hard for me take interest in any other mustang’s for a while.🙊

  5. rob

    I agree, the stickers ruin it. Also the side exhaust ports in front of back tires is pretty honky to me. Much rather a 1993 GT or Cobra.

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