Shelby GT500 history: 428 big-block originals, the S197 supercharged cars and the 760-hp GT500

Shelby GT500 history

Shelby American added the GT500 above the GT350 for 1967, fitting a 428-cubic-inch V8 with dual four-barrel carburetors rated at 355 hp; Hagerty lists a $4,195 base price, and Shelby's own figure is 2,048 built that year. For 1968, Shelby production moved from California to Michigan, a convertible joined the range, and the GT500KR ("King of the Road") arrived with the 428 Cobra Jet. Ford took over design and production for 1969, and leftover 1969 cars were re-numbered and sold as 1970 models.

The name returned on the S197 Mustang for 2007 with a supercharged 5.4-liter iron-block V8 rated at 500 hp. An aluminum block arrived for 2011, bringing 550 hp and 510 lb-ft, and for 2013 a supercharged 5.8-liter V8 rated at 662 hp made it the first Mustang Ford said could reach 200 mph.

The 2020 GT500 used a 5.2-liter supercharged cross-plane V8 rated at 760 hp and 625 lb-ft, which Ford called the most powerful street-legal Ford to date, paired with a Tremec seven-speed dual-clutch transmission. It started at $73,995 including destination. Shelby American later built a limited number of GT500KR conversions on 2020–2022 cars; its 2026 lineup lists S650-based Super Snake and GT350 models but no S650 GT500.[1],[2],[4],[5],[6],[8],[9],[10],[11],[12],[13],[15]

Years and production numbers

Generations and key variants

Engine and drivetrain facts

• The 1967 GT500's 428 was conservatively rated at 355 hp; RM Sotheby's puts real output nearer 400 hp.
• For 2011 the S197 GT500's supercharged 5.4-liter V8 switched to an aluminum block and rose to 550 hp.
• The 2013–2014 GT500's 5.8-liter supercharged V8 was rated at 662 hp and 631 lb-ft.
• The 2020 GT500's 5.2-liter cross-plane V8 uses a 2.65-liter Roots-type supercharger in the engine valley and is rated at 760 hp at 7,300 rpm and 625 lb-ft at 5,000 rpm.

Sources:[3],[9],[10],[12]

What changed, generation by generation

1. 1967GT500 launched with the 428 V8; 2,048 built per Shelby.
2. 1968Production moves to Michigan; convertible added; GT500KR with 428 Cobra Jet arrives mid-year.
3. 1969–1970Ford takes over design and production; leftover 1969 cars sold as 1970 models.
4. 2007Name returns on the S197 Mustang with a 500-hp supercharged 5.4-liter V8.
5. 2011Aluminum-block 5.4-liter, 550 hp.
6. 20135.8-liter supercharged V8, 662 hp, 200-mph claim.
7. 2020S550-based GT500 with the 760-hp 5.2-liter supercharged V8 and seven-speed dual-clutch; built through 2022.

Sources:[1],[2],[4],[8],[9],[10],[12]

What to check before you buy one

• On a 1967–1970 car, confirm the Shelby serial number and factory details (body style, engine, axle ratio) against the door data plate and documentation; collectors use the Shelby American Automobile Club registry as the reference.
• For a claimed GT500KR, confirm the 428 Cobra Jet and KR serial rather than relying on badges.
• On 2007–2022 cars, decode the 17-character VIN and factory options to confirm a genuine Shelby GT500 and its packages.
• Check open recalls by VIN at nhtsa.gov/recalls.
• Compare against known Mustang issues for the generation you are considering.

Model-specific problems by generation are tracked on our Ford Mustang known issues page. Engine guides: 5.2L Predator / Voodoo V8.

Shelby GT500 prices and values

Prices new: the 1967 GT500's base price was $4,195 (Hagerty); the 2020 GT500 started at $73,995 including destination (Hagerty).[1],[4],[5],[7],[13]

Mecum Kissimmee, January 2019: a one-of-one 1967 Shelby GT500 Super Snake sold for $2.2 million, reported by Hagerty as the most expensive Mustang sold at auction.[1],[4],[5],[7],[13]

RM Sotheby's Monterey, August 2024 (Lot 105): a 1968 Shelby GT500 fastback sold for $154,000.[1],[4],[5],[7],[13]

RM Sotheby's Monterey, August 2025 (Lot 109): a 1968 Shelby GT500KR convertible sold for $307,500.[1],[4],[5],[7],[13]

How to verify a Shelby GT500's factory options

Factory equipment changes a GT500's value: on classic cars the engine, transmission and axle ratio (a 1968 KR convertible sold at RM Sotheby's had a C-6 automatic and 3.00:1 axle), and on 2020–2022 cars options such as the Carbon Fiber Track Package.

17-character VINs became standard for model year 1981 (49 CFR 565), so 2007–2014 and 2020–2022 GT500s have them; 1967–1970 cars predate the standard and are identified by their original Ford/Shelby serial numbers.[16],[17]

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.