The Mark V was around for three models years, from 1977-1979. This new Mark, while still rolling on the same 120-inch wheelbase as its predecessor, weighed less due to a refined body style and lighter sheet metal. Much more squared up than the Mk. 4, the faux continental kit trunklid was still in use.
Two engines were offered— the 400 and the 460. More special editions were available on this Mark, like Diamond Jubilee. These rare special edition coupes came in either diamond blue or jubilee gold paint and had special vinyl trim, bucket seats, and simulated diamond chips embedded in the rear opera windows. Another special package of note was the Collector Series.