Some call it the last “real” Shelby. Others call it an expensive Mustang Mach 1 that simply got the badges glued on. The truth, as usual, sits somewhere in between — and that’s exactly why the 1970 Shelby Mustang GT500 still splits fans into two camps. It’s the finale of the original Shelby era: an ultra-rare fastback with a huge V8 and a list of factory options that looks almost unbelievable today. And at the same time, a car the purists stubbornly refuse to call one of their own.
And it all comes down to how these cars were born in the first place. Production of the restyled Shelby models was effectively wound down after the 1969 model year — yet unsold examples were left gathering dust in warehouses. To move them without taking a loss, Ford, under federal supervision, assigned some of the cars fresh 1970 VINs and added a couple of visual touches: thick black hood stripes and a prominent black front spoiler. That’s how the final Shelbys of the era were born — leftover stock, essentially, handed a second identity.
This particular GT500 wears a deep, dark Black Jade, set off by a white vinyl interior and white side stripes. The restoration took it all the way to Concours Gold — but the real story here isn’t the shine of the bodywork. What matters far more is the equipment. Just think about it: from the factory, this car came with air conditioning, a tilt steering column, intermittent wipers, an AM/FM radio, a fold-down rear seatback and — rarest of all for a Mustang like this — factory cruise control. Hardly the typical kit for a brutal muscle car.
Under that long fiberglass hood sits the original 428 Cobra Jet V8, displacing 7.0 liters. On paper: 335 hp and 597 Nm — though everyone knows Ford habitually underrated these engines, and the real output was noticeably higher. It’s paired with a beefed-up three-speed C6 automatic. This is no longer the light, track-focused Shelby of the mid-1960s. This is a big, heavy and genuinely fast grand tourer, built for a hard launch and a long road. And it has a remarkably tangled production history.
First the body rolled down Ford’s line in Dearborn. Then it was shipped to the A.O. Smith facility in Livonia, where it received fiberglass fenders, a hood with five functional NACA ducts, special headlight housings and a front panel. Only then did the car reach the Car Kraft plant, where it was finally turned into a 1970 model. Three factories for a single car — no other Shelby ever took that road.
That same Car Kraft, incidentally, also built the legendary Boss 429 Mustang — so our GT500 keeps rather good company. Across 1969 and 1970, a total of 3153 Shelby Mustangs left the line. Of those, 1872 were GT500s — but the 1970 version stands apart for sheer rarity: just 380 fastbacks and 90 convertibles. So argue about “authenticity” all you like — none of it takes a gram away from the collector value.
This GT500 is the perfect illustration of how the Shelby Mustang changed character at the twilight of its era. Less racing menace — more weight, comfort and expensive options. And yet the seven-liter Cobra Jet under the hood won’t let you forget the main thing: this isn’t just a pretty Mustang from the last batch. This is the end of an entire era — and, arguably, one of its most underrated finales.
