Ford Unveils 390 HP SVT Mustang Cobra Rag Top- NICE CAR

DETROIT, Feb 7 Reuters reported that Ford in need of some adrenaline as it restructures its operations, on Thursday unveiled the 2003 Ford SVT Mustang Cobra convertible sports car, which the automaker said is capable of speeding from 0 to 60 miles per hour in 4.9 seconds.

The Cobra, powered by a 4.6-liter V8 engine producing 390 horsepower, goes on sale this summer. It replaces the 320 horsepower Cobra which went out of production last fall.

``The venom is back in the Cobra,'' said Ford division president Jim O'Connor.

O'Connor said he expects sales of about 12,000 annually for the Cobra, which will be priced under $35,000.

With the new Cobra, O'Connor declared victory in the traditional American muscle or ``pony'' car segment. General Motors Corp. announced in 2001 that it would end production of its slow-selling Chevrolet Camaro and Pontiac Firebird sports cars later this year.

``The 35-year old 'pony' wars are over and the Mustang is the winner,'' he said.

The Cobra is the first production car that Ford has unveiled since it announced its restructuring last month, which includes the closure of five North American plants and cutting 35,000 jobs