Shelby GT350 history: from Carroll Shelby's 1965 racer to the flat-plane Voodoo V8

Shelby GT350 history

Shelby American turned the Mustang fastback into the GT350 for 1965. Shelby's engineers raised the 289 V8's rating from 271 to 306 hp, and 562 cars were built that year. RM Sotheby's describes the competition GT350R as one of 36 built, with an estimated 325 hp, and R cars went on to win SCCA B-Production titles.

Output rose to 2,378 for 1966, including transitional cars built in late 1965 and about 1,000 GT350H cars built for Hertz Rent-a-Car. The 1967 car's rating dropped to 290 hp. For 1968 Shelby production moved to Michigan and convertibles were added. Ford took over Shelby production for 1969, when a 351 Windsor V8 rated at 290 hp became the engine, and leftover 1969 cars were sold as 1970 models.

Ford revived the name for the 2015 model year on the S550 Mustang. The GT350's 5.2-liter V8 uses a flat-plane crankshaft, makes 526 hp and 429 lb-ft, revs to 8,250 rpm and came with a Tremec six-speed manual. The track-focused GT350R dropped the rear seat. Production ended in 2020 with 20,063 GT350s and 3,511 GT350Rs built. Shelby American now sells its own S650-based Shelby GT350, rated at 810 hp.[1],[2],[3],[4],[5],[6],[7],[8],[9]

Years and production numbers

Generations and key variants

Engine and drivetrain facts

• Shelby's 1965 changes lifted the 289 from 271 to 306 hp at 6,000 rpm, with 329 lb-ft.
• Ford calls the 2015–2020 GT350's 8,250-rpm redline the highest of any production V8 it has built.
• Hagerty notes the Voodoo's 526-hp rating was the highest Ford had given a naturally aspirated V8.
• The 2019 GT350 came with a Tremec six-speed manual and standard MagneRide dampers.

Sources:[3],[4],[7],[8]

What changed, generation by generation

1. 1965GT350 launched; 562 built including competition R models.
2. 19662,378 built including about 1,000 Hertz GT350H cars.
3. 1967289 rated at 290 hp; GT500 added above it.
4. 1968Production moves to Michigan; convertible added.
5. 1969–1970Ford-built with the 351 Windsor; leftover 1969s sold as 1970s.
6. 2015–2020Modern GT350 and GT350R with the 526-hp Voodoo V8; 23,574 built.
7. 2026Shelby American's own S650-based Shelby GT350 (810 hp) joins its lineup.

Sources:[1],[3],[5],[6],[8],[9]

What to check before you buy one

• On a 1965–1970 car, confirm the Shelby serial number (SFM prefix on 1965–1966 cars) and match it to the documented history; collectors use the Shelby American Automobile Club registry.
• For a claimed GT350R or Hertz GT350H, confirm the specific serial and documentation, since some cars were converted to R specification later.
• On 2015–2020 cars, confirm GT350 versus GT350R from the VIN and factory build data rather than wings or wheels, which can be retrofitted.
• Check open recalls by VIN at nhtsa.gov/recalls.
• Compare against known Mustang issues before buying.

Model-specific problems by generation are tracked on our Ford Mustang known issues page.

Shelby GT350 prices and values

Price new: Shelby American billed the dealer $3,929.60 for one 1965 GT350, including $220 for Cragar wheels and $63.60 freight (RM Sotheby's catalog).[1],[2]

RM Sotheby's Monterey, August 2016 (Lot 124): a 1965 Shelby GT350 R, chassis SFM 5R108, sold for $742,500.[1],[2]

RM Sotheby's Monterey, August 2025 (Lot 138): a 1965 Shelby GT350, chassis SFM 5S137, sold for $500,000.[1],[2]

How to verify a Shelby GT350's factory options

On 2015–2020 cars, the factory build data separates a true GT350R from a GT350 fitted with R parts and lists paint and packages; on 1965–1970 cars the Shelby serial and documentation do that job.

17-character VINs became standard for model year 1981 (49 CFR 565), so only 2015–2020 GT350s have them; 1965–1970 cars are identified by Shelby serial numbers such as SFM 5S137.[10],[11]

For pre-1981 cars, the door data (warranty) plate carries the original factory codes, and The Henry Ford's Benson Ford Research Center in Dearborn holds extensive Ford Motor Company historical collections.