This is an original 1968 Shelby GT500 Fastback, it’s one of 1,019 examples of the car built for that model year, and today it still retains the 428 cubic inch “Police Interceptor” V8 and the factory-fitted 4-speed manual transmission.
The GT500 is one of the most beloved big block V8 muscle cars from the golden age of the breed – the mid to late-1960s. A time before emissions restrictions, rising insurance premiums, and increasing consumer concerns with fuel economy almost killed off the muscle car altogether.
Fast Facts – The Shelby GT500 Fastback
- The 1968 Shelby GT500 Fastback was a high-performance variant of the Ford Mustang, featuring a powerful 428 cubic inch Police Interceptor V8 engine. It was part of the golden age of muscle cars, before emissions restrictions and fuel economy concerns impacted performance. Only 1,019 examples were built for the 1968 model year.
- The Shelby GT500 evolved from the successful GT350 racing model. It was created when Ford redesigned the Mustang in 1967, allowing for a larger engine bay to accommodate big block V8s. The GT500 boasted 355 bhp and 420 lb ft of torque, significantly more than its smaller-engined counterpart.
- This particular GT500 was built in late 1967 as a 1968 model. It features a 4-speed manual transmission, Highland Green exterior, and black interior. The car was originally ordered with various options including power disc brakes, power steering, and a Sport Deck rear seat.
- The Shelby GT500 gained additional fame as the inspiration for “Eleanor,” the hero car in the 2000 film “Gone in 60 Seconds.” This specific example is now headed to auction with RM Sotheby’s, carrying an estimated value between $150,000 and $200,000.
The Origins Of The Shelby Mustang
When the Mustang had first arrived, executives at Ford were acutely aware that it was a sporting car with no sports car pedigree, and plans were put into place to establish some bonafides as soon as possible.
The Shelby GT500 would be the inspiration for “Eleanor,” the hero car from the 2000 film “Gone in 60 Seconds” starring Nicolas Cage and Angelina Jolie.
Carroll Shelby was consulted, and a deal was penned for him and his team to create a new version of the Mustang specifically targeted at SCCA B-Production class racing in the United States.
Shelby already had a good relationship with Ford at this time, as he was using Ford V8s (the same engine used in the Mustang) to power his Shelby Cobra sports car that had been regularly giving the Chevrolet Corvettes black-eyes since 1962.
The car that resulted from this project was the Shelby GT350. It was a completely stripped back Muting with upgraded brakes, upgraded suspension, a significantly reworked engine, and it had been put on a weight loss regimen so strict that even the back seat had been thrown out.
The Shelby GT350 would prove to be a resounding success, it won the B-Production championship for three straight years and established the Mustang’s bonafides as a true race-winning performance car.
A newly redesigned Mustang would make its first appearance in 1967, and Ford sent it over to Shelby to see if he could give it the special treatment, this time with a big block V8.
The Ford Cobra FE Series 428 cubic inch in (7.0 liter) Police Interceptor V8 is capable of 355 bhp and 420 lb ft of torque, these were supercar numbers by the standards of the late 1960s.
The Arrival Of The Shelby GT500
When the 1967 Ford Mustang debuted it would be the largest redesign of the Mustang platform that had taken place since the model’s wildly successful debut back in 1964. The 1967 model was slightly larger, with updated styling, and perhaps most importantly, it now had an engine bay large enough to accommodate Ford’s big block V8.
Shelby would create two distinct lines of Shelby Mustangs from this point forward, the small block Shelby GT350, and the big block Shelby GT500.
The Shelby GT500 would receive the Ford Cobra FE Series 428 cubic inch in (7.0 liter) Police Interceptor V8 with two 600 CFM Holley four-barrel carburetors on an aluminum intake manifold.
No one could have known it at the time, but this would be the car that would go on to inspire the creation of the car “Eleanor” from the 2000 film Gone in 60 Seconds.
This big block V8 was considerably more powerful than the K-Code 289 V8 fitted to the GT350, offering 355 bhp vs the 271 bhp of the smaller engine. Torque was much higher also, with the big block twisting out 420 lb ft vs the 329 lb ft of the 289.
This power was sent back through either a 4-speed manual or a 3-speed automatic transmission to the live axle rear end and inside the car a roll bar was fitted for safety – perhaps an indication that there was concern about putting this much power in the hands of untrained drivers.
The interior is largely the same as the 1968 model year Mustang that the car is based on, though there are a few changes, and this GT500 carries Carroll Shelby’s signature on the glove compartment.
A number of other changes were made to the vehicle to help improve performance and better cope with the heavier new engine. The front coil springs were uprated as was the anti-roll bar, front disc brakes came as standard along with Gabriel shock absorbers.
The Shelby GT500 series would remain on sale from 1967 until 1970 however this wasn’t the end for the badge – it would return due to popular demand in 2007 and remain in production over a number of sub-variants to the current day.
The 1968 Shelby GT500 Shown Here
The car you see here is one of the best examples of Carroll Shelby’s GT500, it’s a 4-speed manual transmission car – typically preferred by enthusiasts over the automatic option.
This GT500 left the factory in late December 1967 as a 1968 model year car, it was built at the plant in Metuchen, New Jersey wearing Highland Green over a black knit vinyl interior – a combination it retains to this day.
The late 1960s were a golden age in the history of the muscle car, within a few short years emissions restrictions would have vastly reduced the power output of American production V8s.
The car was ordered new by Daniel B. Kelly of Oakland, California and he ticked a few boxes on the options sheet, including shoulder harnesses, the extra cooling package, visibility group, wheel lip moldings, Sport Deck rear seat, power disc brakes, power steering, a Tilt-Away steering wheel, an AM radio, interior decor group, and a heavy-duty battery.
The car is now due to roll across the auction block with RM Sotheby’s in mid-August with a price guide of $150,000 – $200,000 USD. If you’d like to read more about it or register to bid you can visit the listing here.
Images: Darin Schnabel ©2024 Courtesy of RM Sotheby’s
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