This post was one of the earliest in this blog. I’ve updated it to reflect both changes in my posting style and substantial improvements in available data.
“If excitement is your master key, this one opens all the doors.”
The 1982 Ford Mustang GT marked the return to form of America’s definitive pony car and ignited a second round of the power wars with the then brand new third generation Camaro and Firebird. Along with the new GT trim level, the new high output (H.O.) version of the venerable 4.9 liter/302 ci V8 was up to 157 bhp—quite an upgrade from 1981’s 4.2 liter/255 ci engine.
157 bhp feels quaint these days—the lowest horsepower engine for the 2025 Mustang is the 315 bhp turbo four. Still, the 1981 Mustang had topped out at (oog…) 120 bhp and as tested 0-60 times in the 2,600 pound GT dropped by over 3 seconds for 1982, with Motor Trend recording a 6.9-second time in a test car they acknowledged might be a little warmed over. Road & Track timed an 8.0 second 0-60 time in a more civilian GT.
You could get the H.O. engine with any Mustang, but the hot setup was with the GT, which offered a four-speed manual transmission and a 3.08:1 rear axle ratio with a Traction-Lok limited slip differential. Other options that were standard with the $8,308 GT (about $28,800 in today’s dollars) with the 302 were power steering and traction bars. The GT also received cast aluminum wheels, a front air dam, dual fog lamps, a forward-facing hood scoop, and the same rear spoiler initially featured on the first year of the Fox-body Mustang 1979 Pace Car.
Options, Period Reviews, & Production Numbers
Options for the Mustang GT included the SelectAire Conditioner ($676), snazzy Recaro high-back bucket seats ($834), power side windows ($165), and an AM/FM stereo with either 8-track or cassette player ($178)—it seems that 1982 was Ford’s crossover year for 8-track versus cassette.
Period reviews were overwhelmingly positive—Motor Trend stated that the 1982 GT was “it’s the best-balanced, most capable Mustang ever done.” Road & Track mentioned that Ford was leading the “U.S. industry in restoring exhilarating engine performance to the list of options.”
Ford built 23,447 Mustang GTs in the 1982 model year, marking a solid success and attracting a lot of notice. At 45,901 produced, the best seller continued to be the far more vanilla GL fastback.
The View From 2025
This generation of the Mustang GT often appears in the Hemming’s Motor News classifieds, on eBay Motors, and on Bring a Trailer. According to Hagerty’s valuation tools, a 1982 Ford Mustang GT in #1/Concours condition is $44,700, with a more normal #3/Good car going for $12,700.
I only have four exterior color choices with a 1982 Mustang GT—make mine Bright Red, please.
Other Mustangs I have written about include the 1980 Cobra hatchback coupe, the 1981 coupe, the 1983 GT convertible, the 1984 SVO hatchback coupe, and the 1987 LX coupe.
Last updated September 2025.
Eighties Cars 