When the 1967 Mustang got its first major body restyle, so too did the Shelby Mustang. Based on the fastback body style, the Shelby Mustang was extensively restyled to set it off further from the regular production Mustangs. The 1965-66 Shelby was easily identifiable as a Mustang; the 1967 was less so.
The nose of the Mustang was extended via the liberal use of fiberglass components, to create a more pointed, meaner look. In many ways, the 1967 Shelby was the forerunner of later production Mustangs. A fiberglass hood, incorporating a large functional hood scoop, took the place of the stock steel hood. Two side scoops took the place of the stock air extractors, while the side brake scoops were carried over from 1966. The rear deck lid formed a ducktail spoiler and the revised taillight panel housed 1967 Cougar taillights.
Headlight configuration differed from production Mustangs. Two outer low-beam headlights were used in conjunction with two high-beam lights mounted within the grille opening. Most were mounted in the center, but to comply with certain state's headlight laws, some cars had the lights mounted at each end of the grille opening (similar to the 1969 production Mustang).
The large hood-to-tail stripes were no longer part of the Shelby styling package although you'll often run into a Shelby with them. The familiar rocker panel stripes were retained, with either the GT350 or GT500 designation. Exterior color choice expanded while the interior could be ordered in either black or parchment.
The standard wheels were 15x6" steel rims with wheel covers but most Shelby Mustangs came with either the 15x7" steel Kelsey-Hayes Mag Star wheels or the 15x7" Shelby alloy mags.
The interior benefited from additional gauges and each Shelby got an integral roll bar and inertia-reel shoulder harness.
The GT350 remained the same in the engine compartment. The 306hp 289 c.i. V-8 was available with either a four-speed manual or the three speed automatic transmission. The Paxton Supercharger remained a special-order option.
The big change for 1967 was the addition of the production Police Interceptor 428 c.i V-8 engine in the Shelby. Cars so equipped were designated GT500. Externally similar to the street 390, and the 427 race engine, the 428 provided excellent low end torquey response. The main difference between it and other production 428s, was the dual four-barrel carburetor intake setup. It was rated at 355hp.
About 47 GT500s were fitted with the 425hp 427 c.i. Medium Riser V-8 either at the factory or at the dealer level. These are the rarest and fastest of all GT500s.
The suspension was strictly production Mustang with heavier springs and shocks. Front disc brakes were standard equipment. Power steering, power brakes and air conditional were optional.
Although the Shelby bristled with visual performance styling cues (the spoilers, scoops and big wheels and tires) it was no longer the Shelby Mustang that Carroll Shelby originally envisioned. The Shelby retained the image and excitement of the of the 1965-66 cars but because it was much more of a compromise in terms of performance, it appealed to a larger market segment. You could actually drive one everyday.
