Carroll Shelby, the originator of the Shelby Cobra and heavily involved with Ford's racing activities, got together with Ford to produce the Shelby Mustang. Ford was looking for a vehicle to improve its image as a youth oriented auto maker and also to compete against GM's Corvette in SCCA's road racing championship. The result was the Shelby Mustang GT350. As such, the Shelby was a heavily modified Mustang designed to deliver the maximum amount of performance and still be streetable. This meant few compromises as it was in all respects, a driver's car.
The 1965 Shelby was based on the Mustang fastback body. Ford shipped partially completed fastbacks, all painted Wimbledon White, to Shelby's facility in Los Angeles. There the Mustangs were modified to Shelby's specifications.
The Mustangs shipped to Shelby did not have rear seats, hoods or exhaust systems. They were all equipped with the High Performance 271hp 289 c.i. V-8, the Borg-Warner four-speed manual transmission and the 9 inch rear with a 3.89:1 axle ratio.
The appearance of the Mustang was altered to distinguish it from regular production Mustangs. 1965 Shelby Mustangs can be identified by their blue rocker panel GT350 stripes and the familiar wide blue racing stripes running the length of the car. These were mostly dealer installed but some were installed at the factory. With the exception of the stock Mustang gas cap and relocated grille emblem (to the far left of the grille) all other Mustang emblems were removed. Some GT350s did get a GT350 emblem on the left side of the taillight panel. A fiberglass hood with a functional hood scoop took the place of the stock steel hood.
In the black interior, a special pod was attached to the dash top which housed a tachometer and oil pressure gauge. All 1965s did not have a rear seat; a fiberglass shelf took its place and was also the location for the spare tire. Large, 3" competition seat belts replace the stock belts and one of three types of wooden steering wheels were used.
Shelby put most of his efforts in the Mustang's drivetrain. The engine was the stock High Performance 271 hp 289, but with Shelby's modifications, power was boosted to 306hp. Modifications included an aluminum high rise intake manifold with a 715 cfm Holley four-barrel carburetor and a special exhaust system. The system consisted of steel Tri-Y headers connected to a very loud dual exhaust system using glasspack mufflers and exited in front of the rear wheels. The exception here is cars built after July 6, 1965 for delivery to California, Florida or New Jersey, which got a rear-exiting exhaust system. The distinctive Cobra valve covers and a larger capacity aluminum Cobra oil pan rounded out the engine.
The transmission was an aluminum case Borg Warner T-10. The 9" rear axle came with a 3.89:1 axle ratio (but others were available) and they got a Detroit Locker "No Spin" differential. Additional rear axle control was achieved through the use of traction bars with travel-limiting cables. The factory shock absorbers were replaced with Koni adjustable shocks and all GT350s were modified with a lowered (1") front suspension and also used a Monte Carlo bar, which connected the front shock towers. In addition, a one-piece export brace noticeably stiffened to Mustang's front frame structure. For better weight distribution, the battery was relocated to the trunk, in about half the cars made.
Manual brakes and manual quick ratio steering was standard; stock wheels were silver painted steel rims with chrome lug nuts with Goodyear 7.75x15 Blue Dot tires. Optional were the Cragar mags.
The full race version of the GT350 was known as the "R" model. In addition to all the street version features, the R got a fiberglass front lower apron, engine oil cooler, larger capacity radiator, front and rear brake cooling assemblies, 34 gallon gas tank, 3-1/2 inch quick fill gas cap, electric fuel pump, large diameter exhaust pipes with no mufflers, 5 magnesium 15x7" wheels, revised wheel openings, an Interior Safety Group (roll bar, shoulder harness, fire extinguisher, flame resistant interior, plastic rear window, aluminum framed sliding plastic side windows) complete instrumentation (tachometer, speedometer, oil pressure and temperature, water temperature and fuel pressure) and a final track test and adjustments. The engine was further modified to produce 350 hp.
Visually, the R model was similar to the street GT350. The result was strong product identification by the buyers- exactly what Ford wanted. Only 36 were built, making them one of the rarest Shelby Mustangs.
Performance of the street GT350 was exemplary. Weighing about 3,000 lbs. or so, it ran 0-60 mph times in the 6.5 second range and the quarter mile in the high fourteen second range. The GT350 handled like a racer but it was not an easy car to drive. The loud exhaust system, hard brake and clutch pedal pressure, stiff suspension and lack of per steering limited its appeal to the diehard enthusiast- which helped to account for its low production.
