A ball joint assembly includes a housing (12) defining a socket chamber (18) and having an opening (32); a composite ball joint bearing (20) disposed within the socket chamber; a ball stud (24) supported by the composite ball joint bearing and having a shank portion (30) which projects through the opening of the housing; and a seal assembly (40) adapted to seal the opening between the ball stud and the socket chamber. The composite ball joint bearing is formed from a first plastic material (20A) and a second magnetostrictive alloy material (20B) which is adapted to change its shape when in the presence of a magnetic field to thereby change the rotational and oscillation properties of the ball joint assembly.