The Mustang GT was back in 1982 as a sport upgrade package which was last offered on 1969 Mustangs. The 1982 GT replaced the previous year’s Cobra and Sports package as the Mustang lineup sporty option.
The most exciting part about this packages was that Ford also introduced a high-performance 5-liter (302 cid) HO engine package. The 302 V8 was taken out of the Mustang lineup after 1979 and replaced by a smaller, weak-kneed 255 cid V-8 sold only with automatic transmissions and cruising gear ratios. A woefully inadequate turbocharged 4-cylinder combination was marketed but ultimately scrapped. The Mustang was losing image after 15 years on the market, in spite of a new body and a superior TRX handling package. The 302 arrived just in time. It was good for 157hp and was marketed as the 5.0L V8 engine.
The GT also got twin exhaust pipes; forward facing non-functional hood scoop, 14 inch cast aluminum wheels; a color matched version of the previous year’s Cobra front grille; new front skirts; and were limited to Bright Red, Medium Red, Black or Silver.