Introduced in 1964, the Ford Mustang needed only a few months to morph into a high-performance vehicle. In 1965, Shelby was already offering the track-prepped GT350. But Carroll took things up a notch in 1967 by introducing the notably more potent Shelby GT500.
Unlike the GT350, the GT500 wasn't aimed at racing enthusiasts. However, the GT500 packed more oomph thanks to an FE-series 428-cubic-inch (7.0-liter) V8 engine. Rated at 355 horsepower in 1967, it delivered nearly 50 horses more than the GT350. In 1968, Shelby launched the GT500KR, fitted with the 428 Cobra Jet. Officially rated at 335 horsepower, the mill was rumored to be capable of more than 400 horses.
The GT500 was discontinued in 1969 after some three years on the market, but unsold cars were marketed as 1970 models. In all, Shelby put together 5,464 GT500s and 1,452 KR versions (sold only in 1968). Production is split as follows: 2,050 units in 1967, 1,542 examples in 1968, and 1,872 cars in 1969.
One of the most iconic first-generation Mustangs ever made, the GT500 is now a highly desirable classic. And because it's also a relatively rare rig, restored vehicles fetch big bucks at public auctions. The blue 1968 GT500 you see here is not a rotisserie restoration, but it's just as sought-after because it's an unrestored original.
One of only 1,140 fastbacks built that year, this GT500 is described by our host as a barn find. But it's not your average barn-kept classic. Even though it's been off the road since 1984 (that's exactly 40 years as of 2024), this beefed-up Mustang is not a rusty pony. Granted, there is some rot in the side skirts and some surface rust under the hood, but this GT500 is what many enthusiasts would describe as a fantastic survivor.
The Acapulco Blue paint, for instance, still shines on most areas, and that's downright incredible given that this Shelby left the assembly line more than 50 years ago. The walkaround also showcases an interior that's in almost pristine condition. Everything looks so good inside the cabin that I'm tempted to believe it was, in fact, restored many years ago.
The engine bay, on the other hand, comes with a lot of patina and signs that the 428 V8 engine wasn't altered since new. And yes, this powerplant still runs, and the car drives without issues, which is again spectacular for an unrestored rig.
Oh, I should also mention that this Shelby GT500 is an early 1968 version. How can you tell? Well, it's equipped with Marchal lights in the upper front grille. These were replaced with Lucas units after a while.
Speaking of certain individual features, the video below is also a great guide on how to decode a 1968 Shelby GT500. So go ahead and hit the play button below to learn more about that while enjoying one of the finest Shelby survivors out there.
Ask Ciprian about cars and he'll reveal an obsession with classics and an annoyance with modern design cues. Read his articles and you'll understand why his ideal SUV is the 1969 Chevrolet K5 Blazer. Full profile
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