Shelby Mustang GT500 1969

Scope of this guide

This guide is scoped to the Shelby Mustang GT500 (1969), the last of the original Shelby GT500s, a front-engine, rear-wheel drive two-door Mustang with the 428 cubic inch Ford V8 under a long fibreglass nose. It was sold as a fastback (Ford calls the body the SportsRoof) and as a convertible. Our catalogue lists the years as 1969 to 1970, and we explain below why: there was no separate 1970 build, only unsold 1969 cars that were given 1970 identification numbers. This page is about the car as it was built and sold for 1969, with the 1970 renumbered cars treated as the same car.

We have not driven this model for this article. We are an editorial desk that reads sources, and everything below comes from pages we opened: Wikipedia, several RM Sotheby's lot pages, a Silodrome article about a Bonhams car, the Southward Car Museum, HotCars, Concept Carz and three Mustang Specs and Auto History Preservation Society pages. We have not inspected, owned or tested a car. This page is for research, not a buying recommendation, and a guide like this cannot replace an inspection by a specialist who knows Shelby Mustangs.

The figures at a glance

• Engine: 7.0L naturally aspirated V8, the Ford FE-family 428 cubic inch Cobra Jet, mounted front-engine. The sources print 428 cu in and 7.0 litres, and one museum page prints 7,000 cc.
• Drivetrain: rear-wheel drive, with a 9-inch Traction-Lok rear axle (3.50:1 on two of the cars described) and a four-speed manual or a C-6 automatic gearbox.
• Power: 335 bhp. Every page that gives a rating for the Cobra Jet prints 335 hp (RM Sotheby's prints 335 bhp). The peak engine speed is printed differently, as explained below. The sources do not say whether the rating is a gross or a net figure, so we do not claim either.
• Torque: 597 Nm. Sources print 440 lb-ft; multiplied by 1.35582 that is 596.6 Nm, rounded to 597 Nm.
• 0-100 km/h: no figure shown. The sources give about 6 seconds for 0-60 mph, which is a different measure, and we have not relabelled it.
• Top speed: no figure shown. None of the pages we read gives a top speed for the 1969 car.
• Weight: 3,849 lb in one source, which is about 1,746 kg at 0.45359 kg per lb.
• Years: 1969 model year; 1970-numbered cars were 1969 cars given new numbers.
• Production: no single figure shown, because the sources disagree. See the production section.

History and what changed for 1969

Shelby American began building Mustangs for Ford in 1965. By 1969 the arrangement had changed. Silodrome says Ford took a much bigger role in the design and construction of the cars than in earlier years, that Carroll Shelby had relatively little input, and that build quality was better overall though the cars lost some of the underdog Shelby character. The Southward Car Museum calls 1969 the final chapter of Shelby's original involvement with the Mustang, says the Cobra name was dropped, and says Shelby ended his partnership with Ford during 1969. Concept Carz puts the end of the agreement in summer 1969. Silodrome notes that the 1969 GT500 and GT350 were the last original Shelby Mustangs.

The changes listed by the pages we read include:

• A longer fibreglass front end with a unique grille, described by Silodrome as a letterbox-style surround with a blacked-out grille, two headlights and four rectangular lights below, and by Concept Carz as a new grille with 7-inch headlights.
• A bonnet (hood) with five NACA-style air scoops. The Southward Car Museum calls them functional.
• Sequential tail lights borrowed from the Ford Thunderbird, per the Southward Car Museum and HotCars.
• Five-spoke Mag Star wheels, a two-point padded roll bar and a Deluxe interior with simulated wood trim, per Concept Carz.
• Twin exhaust exits below the fuel filler, rear-window louvres and Shelby badging, per HotCars, which also says the lines come from the 1969 Mustang SportsRoof.

RM Sotheby's describes the intent as a car that combined performance with luxury, and one lot page says Shelby ensured that the GT500 kept its unique identity with the long nose, unique grille and five-scoop hood. One RM lot page says the car was shipped under a bill of lading from Ford of Canada dated 9 June 1969, which is a detail of one car and not a statement about the whole run. A Silodrome car, a Candyapple Red example with white knit vinyl seats, was built at Dearborn on 14 April 1969.

The engine and how it was rated

The 1967 GT500 used a 428 Police Interceptor with two four-barrel carburettors, rated at 355 bhp and 420 lb-ft according to Wikipedia. The Cobra Jet version arrived in April 1968 and, per Wikipedia, was rated at 335 hp and 440 lb-ft. The Auto History Preservation Society says the Cobra Jet 428 was introduced late in the 1968 model year on the Mustang, Cougar and Shelby Mustang, and that it was a recombination of Ford parts. RM Sotheby's says it used larger, better-breathing cylinder heads from the 427 and a Holley carburettor, and that the engine began at Tasca Ford in Rhode Island after a suggestion from Hot Rod magazine. RM adds that the Cobra Jet powered the GT500 through 1970. So the answer to which engine the 1969 car used is the 428 Cobra Jet, not the Police Interceptor of the first GT500 and not a 427.

On the rated figure, the sources agree on 335 hp but not on where it peaks. The Auto History Preservation Society prints 335 hp at 5200 rpm and 440 lb-ft at 3400 rpm. The Mustang Specs 1969 engine page prints 335 hp at 5400 rpm for both the Q-code engine (10.6:1 compression) and the R-code Cobra Jet Ram Air engine (10.5:1). Silodrome prints 335 hp at 3200 rpm, which cannot be a power peak next to a torque peak of 3400 rpm, and we treat it as a likely typing error. We use 335 bhp and do not state a peak speed. Several sources call the figure understated. RM Sotheby's says conservatively rated at 360 hp for one listing, with actual output closer to four hundred, and vastly under-reported at 335 for another. We do not have a measured figure from a source we read, so we keep the rating.

A Super Cobra Jet engine with an oil cooler, a different crankshaft and different connecting rods is described on one RM Sotheby's lot page, which prints 360 hp for it and mentions the Drag Pack option, a Hurst shifter and a 3.91:1 axle. The page does not say how many were built. Concept Carz prints 335 hp for 1969 and 405 hp for 1970 in its table, but says 1970 mechanical changes were mainly for emissions compliance and does not explain the jump, so we leave the 405 figure out.

Performance figures

No original road test was available to us, so the numbers below come from enthusiast and auction pages. Silodrome gives 0-60 mph in 6 seconds and a quarter mile of 14.0 seconds at 95 mph, adding that high thirteen-second runs have been reported, with fuel economy of 11 to 12 mpg (the unit is not stated). Mustang Specs gives 0-60 mph in about 6 seconds in two places, but a quarter mile of about 16 seconds. These quarter-mile times disagree by two seconds, and the cars involved are not described in the same way, so we give no single figure. The Southward Car Museum prints 0-160 km/h in approximately 14 seconds, which we could not reconcile with the other pages and do not use.

Production and how 1969 and 1970 cars are counted

This is the hardest figure to pin down. The pages we read give all of these:

• 1,536 fastbacks and 335 convertibles for 1969, totalling 1,871, in the Concept Carz article.
• Approximately 1,871 GT500 models for 1969 and 1970 together, with only 335 reported as convertibles, on an RM Sotheby's lot page that adds that exact numbers vary according to the source.
• 1,536 fastbacks across the combined 1969 and 1970 model years, on another RM Sotheby's lot page.
• 1,534 on the Southward Car Museum page.
• 1,157 1969 GT500 fastbacks on a third RM Sotheby's lot page.
• 3,150 for the 1969 GT500 on an RM Sotheby's convertible lot page, and also 3,150 in the Concept Carz specification table, which sits beside its own 1,871 breakdown without reconciling the two.
• Roughly 250 GT500s in 1970, implied by HotCars saying 1970 output was about 500 GT350s and about half that for the GT500.

Because these cannot be reconciled from the pages we read, there is no figure shown for production in our catalogue. If we had to name the best-supported number, it would be 1,871 for 1969 and 1970 together, which two pages agree on, but the 3,150 figure appears just as often and nobody explains the gap.

On counting, the pages agree on the principle. Concept Carz says no production of 1970 Shelby GT350 and GT500 models was undertaken and that unsold 1969 cars received 1970 vehicle identification numbers under FBI supervision, 789 in total across both models. An RM Sotheby's page says approximately 789 were updated and sold as 1970 models. Mustang Specs says all 1970 GT500s were re-numbered 1969 units, with new distributors and re-tagged carburettor codes. HotCars says there were technically no 1970 Shelby Mustangs and that they were re-badged 1969 models. The visible 1970 changes are a front chin spoiler and two black bonnet stripes. Concept Carz also says the GT500 carburettor was modified and marked "ed" on the tag.

What to check before buying

Only a few of the pages give anything specific, so this is a short list drawn from them. One RM Sotheby's lot page lists a Deluxe Marti Report, the original sales order, the individual order form, period advertising and a listing in the Shelby Registry among the car's papers, which shows what a well-documented car looks like. The same pages show that engine details are a point of difference: the Q-code and R-code engines differ in compression, the Super Cobra Jet has different internals and an oil cooler, and RM's documentation for one car included balance, blueprint and dynamometer results. Because 1970 cars are renumbered 1969 cars, the identification numbers and tags need to be read with care. We found no page that lists failure points, repair costs or recalls for this model, and we will not invent any. A specialist inspection is the sensible step.

Market and value notes

The prices below are single results from RM Sotheby's lot pages, not valuations. A 1969 GT500 convertible was listed as sold for 170,500 US dollars at Monterey in 2011. A 1970-numbered GT500 with a C-6 automatic sold for 112,500 US dollars at Auburn Fall 2014. A Black Jade fastback was sold for 110,000 US dollars, described as title in transit, on a page that does not state the auction date. A Super Cobra Jet fastback on another RM page did not sell, against an estimate of 120,000 to 160,000 US dollars. Condition, originality, engine and gearbox all move prices, so check live listings and recent results.

What we could not find

• No agreed production total, as set out above. We have no figure shown for production.
• No top speed and no 0-100 km/h time. The only acceleration figures are 0-60 mph, and the quarter-mile times disagree.
• No source stating whether the 335 hp rating is a gross or net figure.
• No torque figure from a maker document, only the commonly printed 440 lb-ft.
• No recall list, known fault list or repair costs for this model.

About the photograph

The page uses the catalogue photograph for this model, and its credit is listed on the credits page.

Verdict

The 1969 Shelby GT500 is the Ford-controlled end of the original Shelby story, with a longer nose, five hood scoops and the 7.0L naturally aspirated V8 rated at 335 bhp and 597 Nm. The pages we read agree on the engine, the rating and the 1970 renumbering, and disagree on peak engine speed, quarter-mile times and especially on how many were built. Treat every figure here as a research starting point, check the paperwork and identification numbers carefully, and do not take this page as a buying recommendation.