2003 Mustangs to receive new engines?

According to official Ford documents acquired by Blueovalnews.com Ford will be offering a new selection of engines for all Mustang models.  The documents were sent to Robert Lane of Blueovalnews.com by a Ford insider. 
According to the insider the 2003 base model Mustangs will receive a new 4.0L, leaving the old 3.8L "head gasket blower" in the dump next door. (no offense to all of those V6 owners)   The new 4.0L will have 210hp @ 5250rpm, and it will pound out 240lb/ft of torque.  The '03 Mustang GT is supposed to be keeping the 4.6L which will be upgraded to a horsepower level of 285.  The GT is also supposed to be getting an optional 4.9L which will produce an additional 5 hp, sending it to 290hp. Both of those engines will be SOHC 2V cars.
The biggest Surprise of all is that the insider said that the '03 SVT Cobra will receive a DOHC 5.0L engine which will pump out 350 plus horsepower at 6000rpm!  It will pound out a pavement ripping 340 plus lb/ft of torque at over 4700 rpm.

ENGINE Horsepower Torque Torque @1500 SAE net torque Engine Redline Top speed
3.0L DOHC 215@6250 210@4500 182@1500 250 7200 120
4.0 SOHC 210@5250 240@3250 215@1500 250 7200 120
4.6 SOHC GT 285@5250 310@4000 265@1500 330 6500 142
4.9 SOHC GT 290@5250 320@4000 265@1500 330 6500 142
5.0 Cobra 350+@6000 340+@4750 250+@1500 360 7100 155

Thanks to R. Lane for letting us use this picture.

Pictures of what the '03 Mustang may look like

Here is the original article written by R. Lane of  BlueOvalNews.com

Mustang enthusiasts have been begging and some even demanding that Ford give the pony car more power and cubic inches. Some want the pushrod 5.0 back while others want the noisy 3.8 gone.
Ford's push for high-tech engines and their desire to keep a firm grip on the sports car market is forcing them to do just what Mustang enthusiasts have been suggestion for years. First, the base Mustang's 3.8L V-6 is often described as a noisy train, especially when installed in a convertible model. The 3.8 has also been questioned in the reliability department due to frequently reported head gasket failures.
The 4.6L 2V GT has been a pretty flawless powerplant and customers have been very warm to it. The 1999's power improvements have made a lot of Mustang GT owners happy - it is still a car that's a great bang for the buck. It's surprising to learn then that Ford's concerned about the GT's market share. In an internal Ford document, Mustang boss Art Hyde said "We are seeing some softening of the market in some selected areas (particularly for GT)."
While pre-1999 Cobra owners are generally happy with their cars, thousands of 1999 Cobra owners are upset (see poll here). The 1999 Cobra Mustang's 4.6L 4V performance failures are another story in itself that Ford has to address. The 1999 Cobra fiasco has not only been embarrassing to Ford, it has made a lot of first time Ford buyer's question Ford's ability to build a truly competitive performance car. The issues are far reaching - will potential customers look to Ford's competition instead of trusting Ford to get the 2000 Cobra right? That is, after they satisfy 1999 Cobra owners?
Ford will begin addressing the Mustang's powerplant problems and revisions beginning in 2002. A set of key Ford internal documents leave a paper trail of great things to come. The internal Ford memos were written by the Mustang's chief program engineer, Art Hyde.
The first key that the Mustang will get a boost in power for 2002 is expressed by Hyde in a memo stating "Since we have several years without major actions (like 2000, 2001 and 2003), we need to improve fuel economy by over 1 mpg in our proposed 2002 freshening and with the S197." S197 is the code for the all new 2003 Mustang.
In another document, Art Hyde states "The 2002 program needs better refinement." He continues "In no way can we allow the vehicle to loose its competitive edge before S197." Based on the documents, it's clear that Team Mustang is planning an engine horsepower boost for the 2002 Mustang GT and Cobra. We believe that the base Mustang's 3.8L V-6 will remain unchanged.
A Roush Technologies employee has told BlueOvalNews that both Ford and Roush engineers are already working on the 2002 and 2003 Mustang engines.
What can Mustang enthusiasts expect and when? You shouldn't see any engine changes for the 2001 Mustang. The engine changes will start with the 2002 model and carry on through to 2003, when even more changes are planned.
The 2003 won't just be a new Mustang inside and outside, but underneath as well. The 2003 models will begin to use a modified version of the DEW Lincoln LS chassis. Unlike the Lincoln LS's 3.0L V-6 and 3.9L V-8 engines, the Mustang will continue to use modular based V-8 engines and Duratec based V-6 engines.

Here's what you can expect the engine lineup to consist of for 2003 (all figures are from actual Ford internal documents):

-The base Mustang's 3.8 will be killed off at the end of 2002 and will be replaced in 2003 by a standard 4.0L SOHC producing 210 horsepower @ 5250 RPM. An optional 3.0L 4V V6 will produce 215 horsepower @ 6250 RPM.

-The GT will continue to use the 4.6 2V, but it will get a bump in power to 285 horses @ 5250 RPM. An optional 4.9L GT 2V will be an all optional engine for 2003. The 4.9L will produce 290 horses @ 5250 RPM.

-The Cobra will drop the 4.6L 4V at the end of 2002 and will begin using an all new 5.0L 4V that is scheduled to pump out 350+ horses @ 6000 RPM and 340+ Ft. Lbs. Torque at 4750 RPM, according to official documents.

Team Mustang will also address the quality issues affecting the Mustang. A memo by Art Hyde to team Mustang states "better GT/Cobra performance and craftsmanship being key priorities."
Mustang fans have heard rumor after rumor about new and more powerful engines for the Mustang - although nothing ever materializes from them.
The beauty of this article? It's based from Ford's own internal documents. It's not based from rumors or speculation. Wow - the future of the Mustang suddenly looks good. Really good. Start saving your money - 2002 is right around the corner!

Thanks to R. Lane of Blueovalnews for letting us use this info/pics.

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