I believe the Cobra edition Falcon coupe was built to celebrate Fords domination at Bathurst in the late 70's. Ford had a bunch of unsold Falcon coupes from the previous year so they painted them all white and put some blue stripes on them, to emulate the bathurst cars. They added cobra badges and some alloy wheels but were pretty much the same as the regular coupe. They weren't that popular back in the day but now command big $$$ when they change hands.
Ford Australia has recently produced a new version of the famous cobra edition.
Ford Performance Vehicles
Tin Top racing is the most popular form of motorsport down under. Aussies love racing production cars and our local offerings from Ford and Holden have tapped right into that. Bathurst in NSW hosts Australia's biggest motor race every year and has been running since the 1938. For many years it was a production car race and that had lead to the manufacturers producing some astounding special edition vehicles.
Back in 1971 the Ford Falcon GTHO Phase 3 was the fastes 4 door production car in the world. Genuine examples are now fetching more than half a million $$$
Cheers