The Cobra II continued in 1977, but with few changes from 1976.
It did see more color options for buyers looking to opt for the Cobra II. In 1976 the Cobra came in white with blue stripes, blue with white stripes, or black with gold stripes. In 1977 Ford added white with red stripes and white with green stripes as options.
The $535 Cobra II options package required $58 power brakes. 21% of all Mustang hatchbacks sold in 1977 were ordered with the Cobra II package. The Cobra package came with rack and pinion steering, front disc brakes, the 2.3 liter 4 cylinder engine, racing stripes, blacked out grille, black racing mirrors, rear window louvers, rear quarter window louvers, front air dam, a non-functional rear opening hood scoop, rear wing, aluminum instrument and door panels, Cobra emblems, and styled steel wheels.
Midway through the 1977 Mustang model year, changes for the 1978 model year were pulled up ahead of schedule to sell early. It is most notable on the Cobra II models where the hood scoop was turned around to seem more aerodynamic and the graphics were revised. For the decals, the over-the-top dual stripes running the length of the car were replaced with a single stripe and on the sides of the car the snake and “COBRA II” decals were replaced with large stripes raised to the middle of the body sides with large “COBRA” lettering in the middle. Louvers were added to the hatch and the side panel louvers only came in black. All the window and glass moldings were painted black as well.
Unfortunately the 1977 Cobra II still wasn’t much of a performer. Car and Driver said of the 1977 Cobra II “You can’t deny its initial appeal–a glorious sobriquet from the past, Carroll Shelby paint job, scoops, spoilers, white-letter tires, V-8 engine and four on the floor. Sounds neat, but what you get is a Mark IV all dressed up in performance gear with nothing to make it go. Your mother-in-law deserves more than 105.7 MPH.”