Aside from minor grille and taillight changes, 1973 would be largely a carryover year for the Cougar, but it would mark the last year of the Mustang-based Cougar. In 1974, everything would change.

Power figures continued to change as new federal/EPA regulations began their stranglehold on the V8 engines. The new figures continued to fluctuate but engine options remained unchanged from 1972. The standard engine continued to be the 168 hp (125 kW) 351 Cleveland 2-barrel V8. Optional was the 264 hp (197 kW) 351 Cobra Jet V8. The following years changed to the Thunderbird/Torino chassis.

Total Production:

• 1971 - 62,864
• 1972 - 53,702
• 1973 - 60,628