2007 Ford Mustang Shelby GT 500

With all due respect to the Mustangs developed and sold by Ford Special Vehicle Engineering and the Special Vehicle Team between 1993 and 2004, Cobras are two-seat roadsters built by Shelby American during the 1960s. Anything else is something else--no matter how promiscuous Ford was with that hallowed badge over the last three decades.

This is the reason the highly sought Mustangs sold from 1965 through 1970 that bear Shelby's name never were called Cobras, even though that trademark snake logo appeared all over them. And this is the same mindset that underpins the naming--and development--of the first new, legit Shelby Mustang in 35 years. You'll find snake (and SVT) logos all over this one, too--but, officially, it's the Ford Shelby GT 500. No misapplied Cobra branding in sight.

As you read this, the ripped-yet-sophisticated Mustang on these pages will have just made its debut at the New York auto show. It's the work of SVT's design and engineering teams, with an inspiration infusion courtesy of Carroll Shelby. Functionally, if not in name, it is the next-generation SVT Cobra. Unlike many concepts, it's no fantasy turntable toy, no "we might consider building it if the demand is high enough" tease. Ford brass already has pressed the go button: The next Shelby GT 500 is on its way, coming to market some time in calendar year 2006 as a 2007 model. This New York show design study is 95 percent product correct--meaning what you see is (mostly) what we'll get.

Many planets needed to align for this to happen. Ford Motor Company and Carroll Shelby had been on the outs for decades, but that ended when the two kissed and made up a few years back. Results of the relationship to date are last year's Cobra roadster concept and this year's Shelby GR-1 coupe concept. A Shelby version of the new-generation Mustang has been on everyone's fantasy list since it hit the drawing board.