In April 1968 Shelby released a new model mustang known as the GT500 KR. The car featured the new Cobra Jet 428 cubic inch engine - producing 440 foot pounds of torque and underrated at 335 hp (common at the time for insurance purposes). Like all Shelby Mustangs, standard features included a padded roll bar with special seat belts, 1 40 MPH speedometer,various weight saving fiberglass body parts, reinforced shock towers, and many other performance enhancements.

1. Shelby Cobra GT 500KR
Rare 1968 Shelby Cobra GT 500KR Convertible
The Shelby GT500 KR saw its beginning when in April 1968 Shelby started installing a version of the 428
engine known as the "Cobra Jet". The initials KR stood for "King of the road." The rumor has it was actually
intended for an upcoming General Motors car. Carroll Shelby beat them to the punch with the GT500 KR.
Ford officially rated the Cobra jet at 335 horsepower but with an incredible 440 foot-pounds of torque at
3400 RPM. For insurance purposes the horsepower was underrated at 335 horsepower. In actuality, the true
horsepower was upwards of 400 horsepower. The Cobra Jet was a Ford 428 Police Interceptor engine with
improved cylinder heads for better breathing, larger exhaust manifold, and medium rise intake manifold.
Shelby's KR engine was dressed up by adding finned, black crackled, die-cast aluminum valve covers with
"Cobra Lemans". The Cobra Lemans designation was to note Ford's FE engine family victory over Ferrari at
Le Mans in 1966 and 1967.
Like all Shelby Mustangs of the time, the GT500 KR was fitted with the standard high performance goodies
not even available as options in the other manufacturers’ offerings. Weight saving (and thus performance
enhancing) body parts consisted of a ram air fiberglass hood, fiberglass front end, fiberglass truck lid,
fiberglass rear end and fiberglass rear spoiler. There were fiberglass air scoops on body behind the
passengers and driver’s window (on fastback models) and in front of the rear wheel wells. The was a little
known optional dealer installed kit that would allow the rear wheel air scoops that directed air to the rear disc
brakes for extra cooling.
The interior came standard with a padded roll bar. Attached to the roll bar were special racing type seatbelts.
Full instrumentation included a 140 MPH speedometer. In the movie “Gone in Sixty Seconds” a Shelby
known as Eleanor, is shown with a 120 MPH speedometer. This is where any Shelby owner or expert would
know the so called Shelby in the movie was a fake. Also included as standard in the 1968 Shelby were
rectangular Lucas Brand fog lamps now re-located from the 1967 Shelby position in the middle of the front
end (previously round fog lamps) to a balanced look between the headlamps.
The Shelby KR models were produced for one half of a model year in 1968 and the 1969 and 1970 model
year GT500’s were never given the KR initials. The 1968 GT500 Kr is truly a very desirable collector car
that will continue to greatly appreciate in value. The 1968 GT500 KR convertible is an even more sought
after and rarer model. A total of 518 examples of the KR convertibles were ever produced.