The 1964 Comet was redesigned with a much more square shape, though it was still built on the same unibody as the 1963 model. Its basic lines were shared with the new Falcon, but the front grille used styling similar to that of the Lincoln Continental. Along with the redesign, the model designations were changed. The performance version was known as the Cyclone, replacing the previous S-22. Then in descending order of trim levels were the Caliente, 404and 202, replacing the previous Custom and base models. The 2-door station wagon bodystyle was discontinued. The top-of-the-line station wagon continued to be known as the Villager. The base 144 cid six engine was dropped and the 170 cid six became the new base engine. The 260 V8 was available at the beginning of the production run, with the new 289 being available mid-year. Due to the success of the full size Ford and Mercury "fastback" roofline introduced in mid-1963, the Falcon and Comet 2-door hardtops got a similar roofline with sharper corners.
For 1964, Ford produced about 50 ultra high performance lightweight Comet Cyclones, equipped with their racing two-carburetor 427 engine, similar to their cousin, the Ford Thunderbolt. To avoid competing with each other, the Thunderbolts ran in super stock on 7-inch (180 mm) tires, but the Cyclones were modified to run in A/FX on 10-inch (250 mm) tires, where they were as dominant as the Thunderbolts were in super stock. Drivers included Ronnie Sox, Don Nicholson and Wild Bill Shrewsberry in conjunction with Jack Chrisman. Shrewsberry still owns his original 427 Comet in Caliente trim.