The Shelby Mustang is a high performance variant of the Ford Mustang which was built by Shelby American from 1965 to 1968, and from 1969 to 1970 by Ford. Following the introduction of the fifth generation Ford Mustang in 2005, the Shelby nameplate was revived as a new high-performance model, this time designed and built by Ford. The 1967 GT350 came with an iron-block, 289-cubic-inch (4.7-liter) V-8 rated at 306 horsepower and 329 lb-foot of torque. For a pushrod design, the GT350 revved relatively high, with the horsepower peak not in full swing until the 6,000-rpm redline. 1967 was well before modern fuel injection came about, and the car used a single Holley four-barrel carburetor. The true dual-exhaust with H-shaped crossover system came standard with low restriction mufflers and chrome exhaust tips. Power was routed to the ground through a sturdy, four-speed manual transmission with a single, dry-disc clutch. A three-speed automatic was made available as an option. Rear-end ratios were 3.89-to-1 for the four-speed manual and 3.50-to-1 for the automatic. Acceleration was impressive, with a 0-to-60 time of around seven seconds and a top speed of 140 mph. Braking duties were handled by 11.3-inch discs up front and drums in the rear. Power assist was standard. The front suspension consisted of unequal-length control arms, coil springs, adjustable tube arms, and an anti-sway bar. Out back was a live axle, with multi-leaf, semi-elliptical springs and tube shocks. The steering was a power-assisted recirculating ball design.

In 1968 the 289ci V8 was replaced with a factory 302 V8 using an aluminum Cobra intake manifold and Holley 600 cfm carb. The 302 had less racing parts than the 289 and was rated at 250 hp. A Paxton Supercharger was available that was rated at 33 hp at 5,200 rpm.