2007 Ford Shelby GT500 test drive

Carroll Shelby is an automotive legend, a man famous for several cars, including his modified Mustangs of the 1960s: The GT350, GT500 and GT500KR. Carroll Shelby and Ford have reunited to produce some modern-day high-performance Mustangs -- first the 2007 Shelby GT, and now the 2007 Shelby GT500. If the Shelby GT is a Mustang turned up to eleven, then the GT500 is a Mustang turned up to four hundred and sixty three. $41,675 base, $43,765 as tested (including $1300 gas-guzzler tax), EPA estimates 15 MPG city, 21 MPG highway.

First Glance: More than just a souped-up Mustang

The GT500 is the follow-on to the SVT Cobra, which was developed by Ford's in-house Special Vehicles Team and discontinued after 2004. For the new GT500, Ford teamed with Caroll Shelby; the original Shelby Mustangs of the 60s are prized collector's items today, and the same is likely to happen to the modern-day Shelby GT500. Still, the number of SVT logos sprinkled around the car serve as a reminder that Mr. Shelby didn't go this one alone.

So how exactly does the Shelby GT500 turn things up? For starters, the Mustang's usual 4.6 liter V8 is replaced by a 5.4 liter (330 cubic inch) V8 (link goes to photo) with a power-boosting supercharger. A six-speed manual is the only transmission offered. At 500 horsepower and 480 lb-ft of torque, it makes the 300 hp Mustang GT look like a Honda Civic.

The Shelby GT500 gets improved handling courtesy of stiffer springs, shocks and sway bars. But while the previous SVT had a specially-designed independent rear suspension, the GT500 sticks with the standard Mustang's live (solid) rear axle. Powerful four-piston Brembo brakes and wider tires round out the package. Visually, the beautiful Mustang shape remains unmolested, with a special grille, hood, fender and trunk badges, and two big racing stripes -- another feature borrowed from the original Shelby 'Stangs -- to give it a unique look.

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In the Driver's Seat: Little difference -- until you open the throttle

Standard Mustang fare, but for the Shelby logo on the steering wheel and the 6-speed transmission

Photo © Aaron Gold

Aside from the GT500 logo on the steering wheel, there's not much to distinguish the GT500 from the stock Mustang. It has all the same high and low points: Great front seats, cool-looking dash, cramped back seats, and ridiculous trunk. Just sitting in a GT500 doesn't convey the difference between it and a mortal Mustang.

Even starting the engine won't give you a clear clue as to what you're driving. Forty years ago, engines approaching 500 horsepower were big and temperamental, prone to hard starting and overheating. Not the GT500 -- it lights up at the first twist of the key, and it seems quieter at idle than the stock Mustang (maybe because it knows it has nothing to prove). Driven gently around town, only the super-stiff clutch and reluctant shifter remind you that you're wrestling with mechanical bits beefy enough to lay down 480 lb-ft of torque without breaking.

Tromp on the accelerator, though, and you'll discover the true nature of the beast. The power from the GT500's engine is just incredible, with the yowl of the supercharger singing loud and clear above half-throttle and 3,000 RPM. Foot-to-the-floor acceleration is nothing short of explosive. Even at part throttle, the GT500 will leap to 60 MPH in a heartbeat and a half. Best to keep your license and registration within easy reach and hope your local cops are Ford enthusiasts.

On the Road: Treat it with respect

I started out slowly, but quickly got used to the GT500's somewhat brutish road manners. Before long I was making pretty good time through the curves, keeping the engine in the lower gears so I could enjoy the whine of the supercharger. The traction control system stepped in deftly and gently when I got over-zealous with the power coming out of the corners; it allowed just enough tail-out action for my butt to get the message, without scaring me or letting me get off course.

Still, I didn't press the car as fast as I thought it might go. If I had a nice big racetrack with lots of open run-off space, I'd be willing to explore the GT500's limits. But on public roads? No way, Jose. The GT500's steering lacks feedback, the live rear axle can be thrown into a tizzy by mid-corner bumps, and the car builds up speed with alarming rapidity (those big Brembo brakes saved my bacon more than once). The GT500 lacks an electronic stability control system; drive it at nine-tenths of its limits and you're walking a tightrope with no safety net.

In the interest of public safety, let me stress that the Mustang GT500 is not a car for inexperienced drivers. It's important to have a healthy respect for this car and what it can do. Getting over-confident in the GT500 could be a costly (if not deadly) mistake.

Journey's End: A future collectible -- but is it the best way to go fast?

2007 Ford Shelby GT500

Photo © Aaron Gold

If all you're looking for is a faster version of the Mustang experience, you could buy a plain ol' Mustang GT and add your own supercharger. The 325 hp Shelby GT is another option; it's fast, it has potential collector value, and it's less likely to kill you. If you're simply looking to go fast, I'd look to more modern all-wheel-drive vehicles like the Mitsubishi Lancer Evolution and Subaru WRX STi. Both can be modified to approach (if not beat) the GT500's straight-line acceleration and trounce it through the curves, all for less than the marked-up price of a GT500. The 420 horsepower all-wheel-drive Audi RS4 will keep up with the GT500 on the straights and eat it for lunch in the twists, but at $68k it costs way more than the Shelby, even with dealer mark-ups.

If you're a collector, or a Mustang lover for whom money is no object, then there is no substitute for the Shelby GT500 -- at least not until Ford releases the 2008 Shelby GT500KR with 540 horsepower and a limited production of just 1,000 cars. Chances are it will be a bit faster and a lot more expensive. For now, the GT500 is the most potent 'Stang, and there's truly nothing like it. For all its foibles, the 2007 Shelby GT500 is the stuff of which automotive legends are made.-- Aaron Gold

Next page: Pros, cons, who should buy it, and specs