1993 Ford Thunderbird

The car featured four-wheel independent suspension, with short-and-long arms (SLA) and a spring strut assembly in the front and multiple links in the rear, that offered excellent handling and ride quality. This setup was significant as it made the Thunderbird, the Lincoln Mark VIII, and the Cougar the only rear-wheel drive North American domestic cars other than the Chevrolet Corvette to offer a four-wheel independent suspension at the time. Engine options fell to only two for 1989 as Ford dropped the V8 option for the new Thunderbird. The base and LX models were powered by Ford's 3.8 L Essex OHV V6. Rated at 140 horsepower (100 kW) at 3,800 rpm and 215 lb⋅ft (292 N⋅m) of torque at 2,400 rpm, many felt the engine was somewhat underpowered for a car that weighed over 3,500 pounds (1,600 kg) in base trim (heavier when equipped with available options). This engine was mated to Ford's AOD 4-speed automatic transmission regardless of trim level from the 1989 to 1993 model years. Due in part to its low coefficient of drag, the Thunderbird was relatively fuel efficient considering its overall size and weight. The EPA gave 1989 Thunderbirds equipped with the standard V6 a fuel efficiency rating of 19 mpg‑US (12 L/100 km; 23 mpg‑imp) in city driving and 27 mpg‑US (8.7 L/100 km; 32 mpg‑imp) on the highway, though, like most cars built before 2008, this rating was retroactively reduced by the EPA to reflect newer, more realistic fuel efficiency measurements. The fuel efficiency rating was noticeably better than that of Thunderbirds equipped with higher performance engines and gave the base V6-equipped Thunderbird a significant driving range with its 19 gallon fuel tank (later decreased to 18 gallons).

A more sophisticated, supercharged and intercooled version of the 3.8 L OHV V6 was used to power the high performance Thunderbird Super Coupe, also called Thunderbird SC for short. The Super Coupe could be had with a Mazda-derived, M5R2 5-speed manual transmission or an AOD 4-speed automatic transmission (or 4R70W for 1994/1995 models). The Thunderbird Super Coupe was Motor Trend's Car of the Year for 1989, which Ford proudly advertised. When running at a maximum of 5,600 rpm, the supercharger provided 12 psi of boost, with the engine rated at 210 horsepower (160 kW)/230 horsepower (170 kW) for 1994/1995 at 4,000 rpm and 315 lb⋅ft (427 N⋅m) of torque at 2,600 rpm under an 8.2:1 (8.6:1 for 1994/1995) compression ratio. Accompanying the more powerful engine, Super Coupes were equipped with a host of unique features underlining their higher performance demeanor relative to standard Thunderbirds. Among these were larger, 16 x 7.0 inch alloy wheels with high performance tires (standard Thunderbirds came with 15 x 6.0 inch steel wheels and 15 x 6.5 inch alloy wheels were optional), a Traction-Lok limited slip differential, standard anti-lock brakes, 4-wheel disc brakes (vented front and rear rotors), speed-sensitive variable assist steering, lower body side cladding, fog lights, and a stiffer suspension with adjustable shocks supplied by Tokico.

In spite of the new Thunderbird's merits, it was considered a failure by Ford's top management. On January 17, 1989, then Ford President Harold A. Poling, with Ford CEO Donald Petersen and Ford Executive Vice President Phil Benton looking on, harshly criticized the MN12 program's staff in a meeting for badly missing the Thunderbird and Cougars' weight and cost targets (250 lb (110 kg) heavier and US$900 more per car than planned). This criticism came as a surprise to the program staff who expected to be praised for the Thunderbird and Cougars' technical achievements and positive reception. Anthony "Tony" S. Kuchta, manager of the MN12 program, was angered by Poling, not for his points about weight and cost overruns but rather that he directed his criticism at the program staff instead of at Kuchta who was responsible for all of the important decisions that determined the program's direction. Many of the decisions that Kuchta made regarding the MN12's development that resulted in the weight and cost overruns criticized by Poling were caused by the very things that set the MN12 cars apart from other cars in their class (such as rear-wheel drive and an independent rear suspension). Falling out of favor with Ford management after the Thunderbird and Cougars' launch, Kuchta voluntarily retired early from Ford in May 1989.

For the 1991 model year, Ford reintroduced a V8 option with the Windsor 5.0. The engine was used through the 1993 model year and was rated at 200 horsepower (150 kW) at 4,000 rpm and 275 lb⋅ft (373 N⋅m) of torque at 3,000 rpm; gains of 45 horsepower (34 kW) and 10 lb⋅ft (14 N⋅m) of torque respectively over the 1988 Thunderbird. Like the standard 3.8 L V6, the V8 was only mated to the AOD 4-speed automatic transmission. On the television program MotorWeek in a review of the 1991 Thunderbird and similar Mercury Cougar, a road test of a V8-equipped Thunderbird revealed that the car could accelerate from 0 to 60 mph in 9.2 seconds; approximately two seconds faster than a standard V6 Thunderbird but about two seconds slower than a Super Coupe.

For 1992, the Thunderbird received its first styling update with a reshaped decklid featuring new LED illuminated taillamp units. A V8 Sport model was offered for this year only featuring the Super Coupe front fascia with fog lamps and lower body accent stripes. For 1993, all Thunderbirds used the Super Coupe front fascia.