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Shelby Mustang GT350/GT500: Buying guide and review (2010-2014)

Shelby Mustang GT350/GT500: Buying guide and review (2010-2014) Classic and Performance Car
Shelby Mustang GT500 Shelby Mustang GT500 Shelby Mustang GT500 wheels Shelby Mustang GT500 Interior Shelby Mustang GT500 seats
The Ford Mustang has been around since 1965, and while not all of its incarnations have been met with universal praise (third-generation Fox Mustang, we’re looking at you) the Shelby versions have usually tended to be a bit special. Not least the original Shelby GT350, which has become something of an American icon. This car, and the Shelby GT500 that soon followed, made names for themselves on drag strips and race tracks throughout the States, thanks to their uprated engines and suspension packages.
Our guide focuses on the modern interpretations of these classic cars. The S197 Mustang was first introduced in 2005 and the Shelby GT350/GT500 duo that arrived in 2010 were based on this design.  With some serious drivetrain upgrades, much like the original Shelby cars, it offered bang up-to-date handling and power. Buying a good one second hand can be a life affirming thing, the power and noise making up for any lack of finesse compared to anything coming out of Europe at the time. Read on to see what to look out for if you have a hankering for some American V8 sideways action.

Which Shelby Mustang to buy?

The Shelby GT350 arrived in 2010 sporting some nostalgic features from the 65’ original, not least of which was the evocative soundtrack from the exhaust. Even the paintwork mimicked that of the original, with white being the only option in its first year of production and more colours being made available from 2011-on. Based on a standard Mustang the GT350 came equipped with a 5 litre V8 that could be had in either naturally aspirated 430bhp form or in either 525bhp or 625bhp supercharged versions. The latter specification voided the drivetrain warranty. It also probably necessitated a set of spare rear tyres to be kept in the boot for lead-footed drivers. An automatic transmission could only be specified with the non-supercharged versions which is as it should be. A convertible model was offered from 2012-on.

The Shelby GT500 for 2010 was closely related to the 2007-2009 model, with detail changes being carried out to the 5.4-litre supercharged V8 engine – now producing 540bhp with revised ratios from the Tremec six-speed transmission. 2011 models were much of the same, with a new aluminium engine block and a slight increase in power. The 2013 models however were thoroughly revised, with a 5.8-litre 662bhp V8 and serious revisions to the fuelling system, brakes and numerous other drivetrain upgrades. The bodywork also received a new look which was carried over until the end of production in 2014.

There’s no doubt that these cars are more about straight line speed than cornering finesse, but they are more than capable around a track, and their sideways antics and serious pace make for a very entertaining package.

Performance and specs

2013 Shelby Mustang GT500
Engine 5812cc 32 valve DOHC V8 Supercharged 
Power 662bhp @ 6500rpm 
Torque 631lb ft @ 4000rpm
Top speed 202mph 
0-60mph 3.5seconds 
Fuel consumption 20mpg combined 
Gearbox Six-speed manual

Dimensions and weight

Wheelbase 2720mm
Length 4811mm
Width 1877mm
Height 1400mm
Weight 1744kg

Common problems

• Fuel consumption, especially on the GT500, will have you checking regularly under the car for leaks... Driven gently things don’t get a much better, so factor this into your running costs.
• Modifications are common on these cars and as long as they have been done by a reputable tuner should not affect the reliability of the car.
• The Tremec manual transmission has come in for some criticism by owners, but they generally only give trouble on highly modified cars or ones that have seen too many drag strips.
• Parts are readily available, but some may have to be imported from the US, performance upgrades are also plentiful but generally also need to be sourced from across the pond.
• With up to 660bhp on the top GT350 and GT500 models, rear tyres and clutches tend to need replacing with alarming regularity. Unmodified, both cars are reliable but excessive abuse can take their toll on the drivetrain.
• There should not be any issues with rust or corrosion so any bubbling underneath the paintwork could indicate poorly repaired body panels.

Model history

2010: GT350 launched, initially available only as a coupe with white paintwork and blue stripes. Three engine options available with an automatic option available only on the entry level model. GT500 launched with minor improvements over earlier models. Power from 5.4l Supercharged V8 now at 540bhp
2011: GT500 gets an aluminium block 5.4L V8 which is lighter and marginally more powerful than before. GT 500 Super Snake offered with up to 750bhp. Shelby GT1000 introduced with a 920bhp street legal and 1100bhp track version. Three more colours offered for GT 350 owners
2012: Convertible GT350 and GT500 launched. All standard colours on the Mustang range are now available on the GT 350
2013: Big changes for GT500 including new 5.8l Supercharged V8 now pumping out 662bhp
2014: Both GT350 and GT500 continue with minor changes for the 2014 model year before the totally new model arrives in 2015 sporting an independent rear axle and flat-plane crank V8.

Owners clubs, forums and websites

• www.mocgb.net – Mustang Owners Club UK
• www.mustangandfords.com – Mustang Enthusiast site
• www.stangnet.com – Mustang Forum

Summary and prices

With limited numbers built, values have remained strong especially for limited edition models such as the GT500 Super Snake, GT1000 and 50th anniversary editions. These rarely come up for sale and can command a fair premium over the ‘standard’ cars when they do. 

Depending on spec and year a Shelby GT350 can range between £35,000 and £70,000. Thanks to the higher numbers built, a late 2014 GT500 will set you back the equivalent of £40,000 before factoring in import costs. Getting your hands on one of these beasts will require a bit of searching as they were never officially imported into the UK.

A number of specialists do stock them, however if all else fails you could always import one from the US. Despite this, finding more firepower for less is going to be a tough job and that’s before you factor in that V8 soundtrack and driving fun these cars offer.

Words: John Tallodi
Shelby Mustang GT500 Shelby Mustang GT500 Shelby Mustang GT500 wheels Shelby Mustang GT500 Interior Shelby Mustang GT500 seats
Last updated: 14th Dec 2016
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  • 1966 Shelby Mustang GT350


    CHASSIS NUMBER: SFM6S1509 Genuine Shelby GT350, ideal for Goodwood, Le Mans Classic, Spa 6hr, Masters Gentleman Drivers, Tour Auto and Modena Cento Ore. Imported into the UK in 1996 by the Wheatcroft Family of Donington fame, chassis SFM6S1509R was subsequently turned into a competitive race car by Roxwell Racing, Essex. Having spent many years competing in Europe and even a race-winning visit to South Africa, this GT350 is a well developed and race-ready car with current FIA HTP papers and 430bhp Steve Warrior race engine. With the Shelby GT350 one of the most versatile historic racers - running competitively in all the headline race and road rally events, they not only represent great investments, but they offer a hugely diverse range of events to enjoy with a racing team mate. Also included with the car is the original engine as a spare.

    For sale
    Duncan Hamilton ROFGO
  • 1966 Shelby Mustang G.T. 350

    $129,500(£0) $129,500(£0)

    1966 Shelby GT 350 s/n SFM6S1433, Engine no. 6R09K172853 (included) Red with White Stripes and Black Interior More than fifty years ago Carroll Shelby put his name on the first K-coded Mustang fastback, packing the potent 289/271 hp engine and just a handful of other changes, making the now legendary GT 350. And while individual modifications were seemingly minor to an already potent Hi-Po package, the collective difference was remarkable. Shelby knew how to market the new cars, his team knew how to drum up media interest, and with Ford race support, the word was out – if you wanted a capable American performance car that could compete against any of the high priced European offerings, the GT350 was a great choice. Not only was the GT350 a performance car, utilizing the proven Mustang platform, enthusiasts could enjoy American reliability and sports car handling without worrying about costly maintenance or difficulty acquiring parts. By 1966 successful sales and racing momentum with Ford had grown significantly. Both Shelby and Ford increased their marketing efforts, expanding the Shelby offering, beginning with a range of paint colors including red, blue, green, black, as well as

    • Year: 1966
    • Mileage: 86553 mi
    For sale
    $129,500(£0) $129,500(£0)
  • 1965 Shelby Mustang GT 350


    1965 Shelby Mustang GT350 VIN: SFM5S517 This blue striped beauty is number 517 of the 562 Shelby Mustang GT350s built in 1965. The smallest and lightest of the GT 350 models, the 2-seater fastback came with the ‘Cobra hi-riser' K-Code 289ci, 306 hp V8 attached to a 4-speed manual transmission. As with all 1965 GT350s, 5S517 is painted Wimbledon White with Guardsman Blue rocker stripes. It has the optional Le Mans top stripes, also in Guardsman Blue. Finished in July of 1965, 5S517 remained in Shelby American's possession until January of 1966 when the car was finally sent out into the world to find its first owner. It found a home in the spring of 1966 with Fred H. Thompson of Jackson, MS. After a couple years of use Fred fancied a 1962 Corvette belonging to Ronnie MacDowell, also of Jackson, MS and traded the car straight across. MacDowell got the itch less than a year later, and 5S517 was swapped again, this time to Mississippi lawyer and racer Sam E. Scott for a 1967 Shelby GT350 #097. Scott was a partner with Car and Driver editor William Jeanes in the legendary Southern good times racing team, Bolus & Snopes. Known for their lighthearted attitude towards professional racing,

    • Year: 1965
    For sale