Sometimes when “enough isn’t quite enough,” the temptation for more is irresistible. Such was the case with the GT500KR. In a bit of one-upmanship, Shelby failed to resist the temptation of offering a bigger, “big-block” pony car. When Ford offered its 390-cid V-8 for 1967 in the Mustang, Shelby countered by making available Dearborn’s new Cobra-Jet 428-cid engine, dubbing the car the GT500 - and buyers responded - favoring the big-block to the small-block Shelbys 2-to-1. The formula was repeated for 1968 with more aggressive styling, more scoops, the Cougar’s sequential turn signals, and a convertible model available for the first time.

Midway through the 1968 model year, Shelby introduced the GT500KR. Quite simply, the “KR” suffix stood for King of the Road; both appropriate and admittedly, more than a little cockiness on the part of Ford Motor Company. The latest Shelby was fitted with Ford’s hottest version of the 428-cid Cobra-Jet V-8. Beginning with the existing 428 block, many important improvements were necessary for the transformation to the Shelby Cobra Jet. Ford added new cylinder heads with rectangular intake and exhaust ports (even larger than those used on the 427 LeMans and factory drag-race engines). The block was cast of higher-grade nodular iron, similar to that used on its 427 racing engines. Pistons were made of alloy, connecting rods from high strength-steel, and two different cam options were made available – one for street, the other for drag racing. Ford advertised 335-hp, though estimates put the number closer to 400-hp.

The performance was noteworthy as Hot Rod Magazine tested a GT500KR fastback smoking the quarter mile in 14.01-seconds at 102.73-mph. Car Life was not so fortunate, as the car they were to test was stolen and later recovered by the LAPD . . . and in no shape for evaluation! With a note of humor, Car Life’s writer Allan Girdler titled his headline, “Shelby’s Cobra GT500KR – Was it Worth Stealing?”

According to the Marti Report, this GT500KR was scheduled to be produced at Ford’s Metuchen, New Jersey plant on May 21, 1968, but was actually produced 19 days ahead of schedule on May 2 and shipped to Jack Gibbons City Ford, Inc. of Watchung, New Jersey. Finished in Lime Gold with black knit vinyl luxury bucket seats, it was equipped with optional shoulder harnesses; GT Equipment Group; Visibility Group; Sport Deck Rear Seat; Power Disc Brakes; Power Steering, Tilt-Away Steering Wheel; AM Radio; and the Interior Décor Group.

On July 2, 1968, salesman Frank Ogden of that dealership sold the car to Allen George of East Orange, New Jersey as part of the Shelby dealer Summer Sales Contest taking place from March 21-October 31. Remarkably, nearly 50 years later, the Shelby remains unmolested and extremely well-preserved with just 22,000 original miles.