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The spectacular success of the 2005 Mustang has put Ford in a giddy mood. The suits invited Carroll Shelby to Dearborn for consultation. The result is the Ford Shelby Cobra GT500 on these pages, a faithful preview of a 450-plus-hp 2007 production model you’ll be able to purchase in the fall of ‘06 for less than $40,000.
If you crave Corvette speed but need a back seat, you might consider switching allegiance to the blue oval. Before he cleaned out his desk early this year, John Coletti and his loyal SVT coconspirators conjured up the makings of a Stingray spoiler: the revitalized Mustang muscled up with fatter rubber, bigger brakes, aero accessories, and a totally irresponsible load of horsepower. Shelby spent five hours riding Coletti’s mule before filing this succinct assessment: “Wow!”
With eighty-two years under his hat, Shel has seen and done it all. When he says “Wow!” it’s not because his bursitis is flaring up.
The Shelby tie-in is perfect, because this is another ride back to the glory days of Ford’s Total Performance period. Ford’s 1962-70 juggernaut left burned-rubber traces all over the drag, road-course, off-road, rally, stock-car, Indy-car, and Formula 1 racing worlds. In June 1962, Ford said “Screw you!” (in so many words) to the Automobile Manufacturers Association’s ban on factory motorsports participation. Agents were dispatched to buy Ferrari; when that initiative failed, Ford signed a blank check to beat the Scuderia at Le Mans with the GT40 and its derivatives.
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Shelby was equally low on Enzo Ferrari’s Christmas-card list in the early 1960s. After being rebuked by GM, Shelby in 1961 asked Ford to supply engines for his Cobra sports cars. Four years later, he returned the favor by removing the back seats from Ford Mustangs to convince the Sports Car Club of America that the cars deserved eligibility in the club’s B Production ranks. Three dozen R-model Shelby GT350s built with Ford’s blessing gave amateur racers the ammunition necessary to break Corvette’s lock on the B Production championship. The Ford-Shelby courtship also yielded an interesting run of steroidal Mustangs for street use. The second car in that series was the 1967 Shelby-Mustang GT500 fastback, powered by a 7.0-liter big-block V-8 that inhaled through two Holley four-barrel carburetors to produce 355 (gross) hp.
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