1983 Ford Mustang 5.0 GT

3dr Hatchback

8-cyl. 5.0L 302cid/175hp 4bbl HO

#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good

$18,000 CAD*

-2.7%
#4 Fair condition#4 Fair
Value GraphOct 2024
1979-1993 Ford Mustang stats
Number produced **
** Number produced is specific to this year and configuration.
Explore Hagerty Price Guide values for this generationResearch values for all configurations from this generation on a single page
Explore GenerationSelected
insurance

Protect your 1983 Ford Mustang from the unexpected.

Better coverage built for classics at a price you can afford. Online quotes are fast and easy
More 1983 Ford Mustang 5.0 GT values

Model overview

Model description

In 1983, Ford offered a Mustang Convertible for the first time since 1973. These cars were not designed from the outset as convertibles, but rather left the factory as coupes and were sent to third-party company Cars & Concepts of Brighton, Michigan for conversion.

The sophomore year of the GT Mustang would see the carburetor of the 5.0-liter V-8 upgraded to a Holley four-barrel unit. This raised output to 175 horsepower and 245 pound feet of torque, sent through a new Borg-Warner 5-speed manual transmission and an updated 3.27:1 rear end. Wider Michelin tires helped put power to the road and an enlarged stabilizer bar added to the enhancements. According to Ford, the Mustang GT 5.0 could get from 0-60 mph in under seven seconds. Its 175-hp output made it the most powerful Mustang since 1973.

A turbocharged Mustang returned for 1983, but without the gaudy Cobra graphics. Available on the GT, the 2.3-liter, four-cylinder turbo made 145 horsepower and 180 pound-feet of torque. The base engine continued to be an anemic 88-hp four cylinder, but a mid-range 3.8-liter V6 now made 112hp.

Slight styling revisions included a smoother nose, updated taillights, and a reverse hood scoop. The Ford Blue Oval logo replaced F-O-R-D block lettering for this year.

The presence of the convertible option and the availability of the T-Tops meant Ford no longer had to offer the dated “Carriage roof.” The Ford Mustang was offered in L, LX, and GLX levels. 120,873 Fox body Mustangs were sold in 1983.

Find more values
Search for prices of other cars, trucks, vans and motorcycles
Classic car

All prices shown here are representative of stock condition vehicles only and based on various data sources, as detailed in About Our Prices. Value adjustments for optional equipment are in U.S. dollars. More information on how forecast models are calculated can be found on Forecasted Values page. For additional information and a complete description of benefits, visit hagerty.CA/legal. Purchase of insurance not required for membership in HDC. Hagerty, Hagerty Valuation Tools & Hagerty Drivers Club are registered trademarks of the Hagerty Group LLC, ©2024 The Hagerty Group, LLC. All Rights Reserved.