Rare Pony: 1978 Ford Mustang King Cobra

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Ford redesigned the Mustang pony car in 1974 to eliminate the size and weight it had accumulated over the years. It was a sales success because the Mustang II happened to come along just as the OPEC oil embargo hit the scene. Today, the Mustang II isn’t particularly collectible except for the limited production King Cobra, only offered in 1978. This Ford is nice and shiny (if you like brown paint) and runs well, maybe only needing some interior TLC. Located in Middlebury, Connecticut, this late 1970s “muscle car” is available here on eBay for the current ante of $13,100.

Unlike the Mustang II Cobra, which was an appearance package, the King Cobra had a little bit of action going on. It came with a 302 cubic inch V8, but only a 2-barrel carburetor, but may have been enough with a 4-speed manual transmission as is the case with the seller’s machine. Whether by accident or design, just 4,313 copies were made in only 1978, making it one of the rarest Mustangs ever. The configuration of the Mustang II was a sign of times when gasoline was no longer cheap. The II would be replaced by the Foxbody Mustang in 1979 which would run through 1993.

We’re not sure how original this Mustang is but it presents well in a color that must be one of the least-often ordered hues. It may only have 68,000 miles, which is a plus for a 47-year-old automobile. We’re told it runs and drives as well as it looks. The orange decals have recently been applied (and the paint, too?). The seller goes on to say that Hagerty pegs the King Cobra as one of the most desirable Mustangs from over the ages.

The seller must be a vintage car collector as this one is only for sale because he/she needs to thin the herd. The exhaust and battery are new, so the buyer won’t have to deal with those items. If you were to purchase this Ford, you’d likely be in scarce company at Mustang events because so few of these cars must be left, especially wearing this color.

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Comments

  1. Driveinstile DriveinstileMember

    Whenever I see one of these, its usually black, or white, and I’ve seen an orange one or two. But not so much with brown. Which is funny, because I personally think that in 1978 92.674 percent of all cars produced were brown. It was like a mandatory thing back then. I’m exaggerating, but I’m sure you have to agree with me here, there were a lot of brown cars then. This sure looks like a true low mileage survivor and it’s a stick which is even better. I’ve often wondered, if instead of a 302 2 barrel, if Ford dropped a 351 4 barrel into these things from the factory. It definitely would’ve had performance to match its looks. I know theres a number of people who aren’t fans of these, but in all honesty, they were a good car at the right time for Ford. And all these decades later, I think they look pretty good. And this brown one is no exception. Its very clean, at least to me anyways.

    Like 26
    • Paul T. Root

      A friend of mine had one of these. His Dad was selling Volvo trucks at the time and took this as a trade-in. So my friend upgraded from a Deuce and a Quarter that was 20+ feet long to the King Cobra. It was a fun car. I look back at it longingly.

      As to brown cars. I’d take that now over the 1 shades of grey that you get to choose from. Or the Suburus and Toyotas that come in Plumbers Putty or Olive Drab.

      Bring back plum crazy, grabber orange, and sunoco blue.

      Like 1
      • Robert Atkinson, Jr.

        Or US Navy battleship gray, Yuck. That color looks great on a warship, but on a car, not so much.

        Like 0
  2. Stan StanMember

    Driveinstile a rwd, V8, manual transmission car will always be a hoot to drive 🐍 🏁

    Like 13
  3. Bob_in_TN Bob_in_TNMember

    Very nice. For someone who is a Mustang II enthusiast, or wants one of this generation for their collection, this is a good example. V8, 4-speed, a/c. I’m fine with the brown/ orange stripes/ tan scheme; like Driveinstile says, it’s period-correct.

    I know, it’s just me, but…. a lead photo anywhere but parked on some rough pavement beside an old Chevy van in what looks like a storage facility **might** help the sales pitch.

    Like 20
    • Driveinstile DriveinstileMember

      I hate to correct you Bob…..
      But…..
      That van has a GMC hubcap on it….
      It may actually be a GMC van and not a Chevy…….
      But other than that, totally spot on Bob, like Stan said.
      Actually, all kidding aside it would be nice if individuals who are selling their cars tried to find a nice spot, I know its not always possible, Bobs right, it does help. Especially if its a nicer condition car. Like this one.

      Like 8
  4. Stan StanMember

    Astute comment as usual Bob 🤝

    Like 7
  5. Jeff

    This was Ford Motor Corp back in the day when the oil embargo hit the US and fuel was scarce when drastic engineering happened.. The tough kind… like “hey let’s cut five feet off that car for better mileage”.  😊.  Yep, that dang engineering degree paid off here for Ford furrrrrrrrr sure! LOL!   Seriously, I kind of love it for being small, different V8 engine wacky mixed kind of Chocolate 70’s color and four speed  https://barnfinds.com/rare-pony-1978-ford-mustang-king-cobra/    😎

    Anyone need a my lil pony car for a grand kid 😂😝😎

    Like 7
  6. TorinoSCJ69

    The 302 in the ’78 here was out of grunt early but ran better than the stated low HP would indicate.
    These had restricted gas inlets as leaded was still sold in ’78.
    I still have my order form for my bright red (code 2R) Mach 1 of that year and it was very well appointed (for $6,800.).
    “Rallye Pkg” (standard with Cobra ll):
    Cooling pkg
    HD battery
    Adj shocks
    Rear stabilizer bar
    Leather wrapped wheel, slotted Mags, 4 spd., 302

    I thought it handled well and decent disc brakes. We were all driving 10 year old cars at the time so nice change actually. And small !

    These are not bad cars – Ford kept the marque from disappearing.

    Good luck!

    Like 15
  7. Big C

    The Mustang II and the Pinto. Laugh all you want. Ford sold millions and millions of them. The right cars at the right time. And, it saved the Mustang brand.

    Like 13
  8. Terrry

    I’m not a fan of the Mustang II, because to me it was little more than a Pinto in a fancy dress and lipstick. At least with the King Cobra, Ford made an effort to reintroduce something to the Mustang that was sorely lacking-performance. And that inspired the later V8 Fox platformed Ponies until the real Mustang (at least in appearance) returned in 2005. This car looks to be in above average condition, but it’s not a car I’d add to my stable because it’s still a Mustang in name only.

    Like 2
    • Bob S

      Terry, you say this car is a mustang in “name only”. The 1st mustang was underpinned by the humble falcon. The mustang II saved the name, but it could of been worse, cause in the early 80’s, the probe damn near became the mustamg.

      Like 19
  9. James

    Whenever I see these it reminds me of 2 things. An ex girlfriend in Southern AZ and Starman. :)

    I’ve always liked them. Then again, I like goofy cars.

    Like 9
    • PRA4SNW PRA4SNWMember

      Same here – the Starman part. And Karen Allen.

      Like 11
      • Driveinstile DriveinstileMember

        Oh wow!!! I forgot about the aftermarket rims. You know what? They do look good on it

        Like 3
    • John Cunningham

      I agree with your 2 things remembered. Pretty much the same thing with me.

      Like 3
  10. Danno

    Had a pal with a 2.3+4-gear. It was *not* a great car, but it looked better than a Pinto with the same drivetrain. Four of us could pile into it and get where we were going, and that was good enough at the time. I believe it was purchased for him, by his father, to rein in his unacceptable driving habits in our small town LOL.

    Never cared for the design, as a young fella, but it has grown on me over the years, especially with the “King Cobra” trim. It would be cool, I think, to drop in a Coyote, and paint it a non-standard colour that duplicates the factory decals & trim.

    The wheels and tires have always looked a tad tiny to me, on the side view, but they filled out the fender openings well, so not sure it’s possible to address that without major bodywork.

    Like 3
  11. ccrvtt

    This article from Hagerty a few years ago – https://www.hagerty.com/media/car-profiles/ford-mustang-ii/ – should put to rest the Pinto/Mustang II misconceptions. Back in the day (yes, I was there) they were described as “overstyled and underpowered”. But they were nicely trimmed and sized perfectly. Unlike the early wave of GM “compacts”, i.e. ’61-’63 Skylark/F-85/Tempest that were engineered to feel like much larger cars, the Mustang IIs were happy to be small cars.

    Despite being 6’3″ and north of 200# I have always preferred small cars. American manufacturers finally got the message to build well-appointed little vehicles just before they caved and stopped building them altogether in favor of the 4-door behemoth trucks.

    The current Mustang recalls some of the original’s attributes but can be downright intimidating with 1000hp available. Imagine that in 1978!

    Like 5
  12. JoeNYWF64

    Is the ’78 “King Cobra” any faster than a 302 4 speed ’78 Mustang II Ghia with opera windows?!

    Like 3
    • Robert Atkinson, Jr.

      Probably, but not by much. The Fastback is slightly more aerodynamic and may be just a hair lighter than the Ghia notchback coupe, but again, I don’t think there’s enough of a difference that can be measured in a standing quarter-mile, IMHO.

      Like 1
  13. John Cunningham

    I agree with your 2 things remembered. Pretty much the same thing with me.

    Like 1
  14. JoelH

    All 302’s from back in the 1978 II day’s were the same HP and performance.
    The King Cobra package was just Trans Am styling / striping on the standard Mustang II V8 platform. But very rare and cool looking cars from their day.

    Like 4
  15. Tom71MustangsMember

    Hagerty said what ?!!?!?

    Like 2
  16. Robert Atkinson, Jr.

    The Good: Color scheme, 302 V8, four-speed stick. The Bad: two-barrel carb, 1970’s performance. The Ugly: anti-smog gear choked off any semblance of performance, prone to rust if looked at wrong, LOL! My take: Good solid driver, and the performance can be brought back with a little machine work on the engine and the usual go-fast goodies from the Mustang catalog (Headers, low-restriction dual exhaust and intake upgrades).

    Like 2
  17. Steve R

    Sold on 2/23/2025 with a high bid of $13,300.

    Steve R

    Like 1
    • PRA4SNW PRA4SNWMember

      Some, maybe many, people will think that’s a lot of cash for a II, but as the prices rise on everything, not just stuff with 4 wheels, I consider it well bought.

      Like 2
  18. Davey Boy

    Very well bought in my humble opinion. I had a friend in the early 80’s that put shoehorned a 390 4 barrel with a 4-speed in one of these. Not sure what he did to it all together but it was a blast to drive and most certainly one of the fastest cars I’ve ever been in except for a true 1/4 mile car. Funny thing. It was also this shade of brown but it was just a regular fastback. It did start life with a V-8 and a 4-speed. Would’ve liked a chance to try on this one. Most go for more and don’t look as good. Oh well. Win some, yada yada

    Like 0

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