The name Shelby is as synonymous with Ford as M is with BMW, and AMG with Mercedes. The last generation Mustang saw an officially licensed GT350 and GT350R, fully warrantied and sold through Ford dealerships. For the current S650-generation model, Ford has since taken the driver-focused Mustang in-house, replacing the GT350 with the Dark Horse.

Undeterred, Shelby has reacquired the naming rights and built their own 810bhp riposte, powered by a supercharged 5.0-litre ‘Coyote’ V8, with the choice of a 6sp manual or 10sp automatic. Almost as big as the engine is the Whipple-supplied blower - a ridiculous 3.0-litres. As the saying goes, there's no replacement for displacement. A custom Borla exhaust also features, as do Shelby lowering springs, fatter anti-roll bars, a short shifter and 20-inch alloys wheels wrapped in Michelin Pilot Sport 4S, to “Shelby spec”. A saner, 477bhp naturally aspirated variant will also be sold, with 10bhp more than the Dark Horse.

Given its exterior makeover, there will be no confusing the 2025 Shelby GT350 with its Ford brethren. A new, aluminum ‘deep draw hood’ is fitted, with Shelby-specific upper, lower and outboard grilles, brake ducts, lower splitter, ducktail spoiler and Le Mans racing stripes. An even more dramatic rear pedestal wing, ‘Performance Pack’ and ‘Carbon Fibre Package’ are available as limited-run optional extras.

Elsewhere, the interior of the Shelby GT350 is differentiated by reupholstered leather seats, a Shelby shifter ball, embroidered floor mats, door sill plates, dashboard plaque and puddle lamps. The engine and fuel filler cap will also get serialised number plaques. 

As per tradition, an even more hardcore GT350R will follow, which has been developed in partnership with Turn Key Motorsports. Only available with a manual transmission, power is up to a Super Snake matching ‘830+bhp’. Shelby is aiming the GT350R at trackday enthusiasts, but with the intent to enter a factory car into the 2026 Trans Am Series, it might as well be a homologation special. Trick upgrades include a carbon fibre interior 'tub', bespoke racing struts, remote reservoir suspension and Alcon racing brakes. Further options include an integrated roll cage and carbon fibre racing seats with four-point harnesses. An even more aggressive, adjustable Trans Am aero package will also be sold.

As in 1965, 36 Shelby GT350Rs will be built - all will be white with two optional painted stripes and graphics packages available; gold/silver/black representing the historic race package and blue/white to align with the Shelby heritage package. A non-road legal competition-spec model will also arrive catering to Trans Am privateers. The factory team will be aiming to emulate the success of the original Shelby-built cars and teams who won the Trans Am championships in 1966 and 1967. Perhaps Shelby might also have a crack at the Mustang GTD’s recent Nurburgring record.

Shelby says the supercharged GT350 starts at $109,995, including the cost of a brand new donor Mustang. This is a significant premium over the admittedly far less powerful, $64,630 Dark Horse, although exclusivity will be on its side, as Shelby American is limiting production to 562 units, also in line with the 1965 GT350. The original owner of each car will benefit from a three year / 36,000-mile warranty. No pricing has been announced for the GT350R yet.

Under Ford’s watch, the GT350 remained naturally aspirated, with a 5.2-litre ‘Voodoo’ V8 good for 526bhp and 8,250rpm. Featuring a flat-plane crank, its soundtrack was more Ferrari than Ford. Quarter-mile kings were served by the supercharged GT500 packing 750bhp and 625lb ft of torque.

On paper it seems the new Shelby GT350 replaces both - for a price. Shelby American has no plans to offer the car for sale in the UK, however we wouldn’t put it past long-standing Shelby Cobra importer Clive Sutton from sneaking a few across the Atlantic.