The 2002 Cobras are right-hand drive and have an extra set of fog lights. I'm just kidding a bit. The only 02 Cobras are Australian. The 01s are the last year for true SVT Cobras sold in America with the naturally aspirated 4.6 all-aluminum DOHC V8.
The other differences are:
2003+
- have a 6 speed manual
- wider tires/wheels combo
- slightly better axle splines
- lowered factory suspension
- an increased weight of over 200 lbs.
- different front and rear fascia; rocker panels
- foldable, color-keyed side mirrors
2001
- have similiar, but distinctive seats
- 5 speed manual
- amber turn signals (distinctive feature of 99-01 Cobras)
- different type spoiler