Jazz, you have no idea what kind of can of worms your question could open, especially when you insert the word "exactly". But I'll give it a shot.

By "hot rodded" most people would mean doing some sort of performance modification, both in hardware and appearance. By hardware, I mean engine and drive train modifications, extending even to suspension. By appearance we would mean mild body modification, upholstery change, and paint items.

Where the rub comes in is when individual interpretation of terms is applied. As surprising as it may seem, since we're all subject to human nature, there is often a lack of consensus on terminology. Many would say your car is too new to be a hot rod. They would say that hot rods are almost entirely the province of the pre-WWII era. And that many of the way too sophisticated cars, meaning "perfect" paint, flashy leather upholstery, lots of billet, and independent suspensions, are too "fancy" to be hot rods. Hot rods are meant to be "edgy". Not sure I agree with that entirely, but that's one point of view.

Then there's the term "street rod". This was coined in the early '70's by the then new National Street Rod Assn. Their objective was to elevate the perception of the "hot rod" to something more "mainstream". They put a cutoff date of 1948 in their definition, so, for example, a '50 Ford couldn't be correctly referred to as a street rod by their definition. However, as so often happens, with the passage of time the original intent of terms becomes distorted by frequent misuse to the point where today we might see an '80's Citation with alloy wheels being referred to as a "street rod" in some circles!

Then there's the term "street machine". This came about as a term used by folks sensitive to the historical usage of the above terms, but wanting some way to define, say, their '55 Chev with similar modifications as done to a street rod. So, generally, any modified car after 1948 would fall into this catagory.

Of course it can't be that simple, as we humans continue to strive to call attention to our "individuality". So more terms have been created. Let's say you took your Mustang, gave it a high quality repaint in the factory color, redid the upholstery with a factory style covering, but lowered it, put on Torque Thrust II's, and dropped in a 351W with a T-85. You've basically restored it, but with some easily reversible modifications. This would be called a "restification", combining the terms restored and modification.

There are many more terms: muscle car, custom, custom rod, rat rod, gow job, beater, pro street, pro touring, ricer, etc. each making an effort to split hairs and refine the catagorization of a particular style of car.