When introduced, the big news for 1967 was the GT 500, with the 428 cubic inch engine used in that year’s Shelby Cobra. With 10.5 to 1 compression and a Holley four-barrel it made 355-hp. A four-speed manual was standard, but the C-6 automatic could be ordered. Since the new 1967 Mustang body shell was designed to accept Ford’s 390-cid big-block engine, Shelby dropped the Interceptor 428-cid into the pony cars engine bay and added a dual-carb intake, creating the top-of-the-line GT 500. Conservatively rated at 355 horsepower, actual output was closer to 400 horsepower. This example has the floor-mounted manual four-speed transmission.

Nineteen sixty-seven brought a mildly re-contoured Mustang body. The GT 500 provides plenty of musclecar presence, utilizing the fastback platform. A special front end with a unique hood scoop and grille-mounted driving lights gives the Shelby Mustang an unforgettable face. In the back, rear-quarter scoops (upper and lower), a rear spoiler and sequential turn signals lifted from the 1966 Thunderbird gave the car an even more powerful presence. The factory-standard rollbar with inertia-reel shoulder harnesses completed the competition flavor of the car. It proved more popular than the GT 350, with 2,044 built versus the 1,135 produced as a GT 350 in 1967. Shelby Automotive, however, had outgrown their California plant. At the end of the 1967 production year, the final assembly operation was moved to Michigan.

Reported in original condition, with approximately 58,000 miles registered on the odometer and considered original; this Shelby GT 500 is finished in Lime Gold with black interior. This GT 500 was completed and shipped October 11, 1967 to Jerry Alderman Ford Sales, Inc. in Indianapolis, Indiana. Alderman was a well-known Midwest dealer that had sponsored the fourth place Lotus 29-Ford driven by Al Miller in the 1965 Indianapolis 500. The Shelby was purchased on November 28, 1967 by original owner, Gerald Russell of Frankfort, Indiana. Documented in the Shelby World Registry, the car is also accompanied by a Marti Report. Along with power steering and brakes which were considered “mandatory options,” as are the fold-down rear seats, this exceptional machine has Shelby 10-spoke wheels, white Le Mans side stripes, Goodyear tires, plus it energetically runs with its original engine, intake, carburetor and transmission. The Shelby has full instrumentation including a tachometer and gauges mounted centrally below the dashboard. Unique to this model of car, is the wood-rimmed steering wheel; Deluxe Mustang interiors were standard in 1967. Primed to make an exhilarating run down Main Street, USA, the GT 500 is also perfectly comfortable on the banking of the Daytona road course – just as Carroll Shelby intended.