After the initial wave of excitement from the drag race victory subsided, car enthusiasts were eager to praise the new Ford engine that promised a powerful performance. The Cobra Jet motor was a bold and unapologetic statement from Ford, with its big-block V8 capabilities. Official power ratings stated that the NHRA dominator had 335 horsepower and 440 pound-feet of torque (340 PS, 597 Nm). However, in reality, the new V8 produced around or even above 400 horsepower (some sources claim 430 horses), which made much more sense.
Why would Ford bother promoting an engine that was inferior to the 428 Police Interceptor? And why would Carroll Shelby declare it as the King of the Road in his GT500 applications? This car was a street performer that refused to bow down to anyone. One former owner of a GT500 KR shared their experience during an online discussion among fellow car enthusiasts, saying, “Twenty-one years old, just back from Vietnam (1970), and bought a ’68 500KR 400 hp, 4-spd with a 3.90 rear end for $2.000. In Detroit, we went 427 F.I. ‘Vette hunting on Telegraph every Saturday night. The loser was usually the one who messed up the shifting. That was one fast car. Ate Tri-Power GTOs and SS Chevelles for lunch.” Feel free to share your thoughts and stories in the comments below.
Photo: beckerautogroup.com
In 1968, a total of 1,571 Ford Mustang Shelby Cobra GT 500s were produced, and they were later equipped with the new Cobra Jet V8 engine. This is why the name ‘Cobra’ is included in the lengthy moniker. Shelby also added the prestigious ‘KR’ seal to signify its aristocratic status. Out of this limited production, 518 were convertible models, which was another first for 1968. These rare examples are highly sought after by car collectors today.
One of these elusive machines is a unique GT500 King of the Road, built on May 2, 1968. Its rare combination of Wimbledon White body, saddle interior, and white top sets it apart. Convertible ’68 GT 500 KRs were already uncommon, making this car even more special. It features a three-speed automatic transmission, specifically Ford’s renowned C6 Select-O-Matic three-speed, paired with a 3.50 Traction-Lok rear axle.
Shelby Automotive priced this car at $4,967.90, with an additional $373 for selected options on top of the base price of $4,596.09. The buyer opted for power steering, power brakes with front discs, shoulder harnesses, a push-button AM radio, and the tilt-pop steering wheel in addition to the automatic transmission.
Over the past 56 years, the value of a convertible GT500 KR has far exceeded its original price (which would be equivalent to $44,028.30 in February 2024). This particular car is currently for sale in Spokane, WA, and comes with a premium price tag of $299,000. It has undergone an extensive restoration and engine rebuild.
The number of miles driven is not revealed, and the pictures do not provide much assistance in determining this information – feel free to examine them yourself – but the dealer selling the car mentions that the powerful 428 Cobra Jet engine has been used sparingly in order to maintain its flawless state.
According to the Source autoevolution.com