Now, why did Ford under-rate the power of the 2003 Cobra in their advertisements? Some speculate that Ford did not want to experience the same backlash from the false advertising of the 99 Cobra, which produced well under the advertised horsepower and torque. Others say Ford did this to keep insurance costs down for their customers, which in turn would increase sales. Regardless of the reason, the new Cobras are making owners very happy. With over 400 horsepower for $34,000 the 2003 Cobra holds one of the best horsepower to dollar ratios in the automotive industry today.