The Mustang GT was re-introduced in 1982. This was the first GT pony cars since 1969. This new GT was based on the corporate 'Fox' platform shared with the Ford Fairmont. Mounted under the bonnet was a 302 cubic-inch HO V-8. To help distinguish it from its counterpart, the GT had a specially designed exterior complete with non-functional hood scoops and a racy cockpit with blackout trim and bucket seats. The GT was rated as the fastest domestic car produced that year.
For 1987, the car was restyled inside and out and its engine upgraded for more power. The Mustang's new 5.0-liter HO engine featured better breathing valves, tuned exhaust ports and dished-top forged pistons along with a stainless steel exhaust to improve airflow. Suspension and handling components were upgraded with new strut housings and brake hardware to improve stopping and cornering performance.
For 1990, the GT featured a 302 cubic-inch V8 rated at 225 horsepower. A five-speed manual gearbox was standard with a four-speed automatic available for an additional $539. There were fewer than 27,000 Mustang convertibles produced in 1990.
Production for the Mustang fell sharply for 1990, to just 128,189 units from 210,769 the prior year. Ford hoped to stimulate sales with a Limited Edition 25th Anniversary Emerald Green GT two-door Convertible with special white leather interior. Production was planned to be limited to 2,000 units. The car had a list price of $19,878. Sales were strong and a total of 3,837 examples of the car were produced.
This example is all-original that has accumulated just 144 miles since new.
In 2010, the car was offered for sale at the Vintage Motor Cars of Hershey auction presented by RM Auctions. The car was estimated to sell for $10,000-$15,000 and offered without reserve. As bidding came to a close, the car had been sold for the sum of $20,900 including buyer's premium.