Photo: YouTube/Lou Costabile
“Driving the car, you feel it in your hands, then in your feet, then in the seat; that's what I love most about classic cars.” 1968 was a turning point for the Shelby Mustang, with the iconic performance car undergoing major changes in both looks and power. It was the best year for sales, but it was also Carroll Shelby's farewell to Ford, with FoMoCo taking over all Shelby Mustang assembly operations.
With the horsepower wars in full swing, Ford, now riding high on its back-to-back Le Mans 24 Hours triumphs in 1966 and 1967, was pushing performance to new heights. However, the FIA made several changes to the sport, one of which was to limit racing engines to five liters.
Ford responded with the introduction of the 302 cubic inch small block, the 4.9-liter V8 that became legendary in the form of the Boss 302 of 1969 and 1970. The engine debuted in 1968, and it was only natural that Shelby Mustangs would feature it, dropping the famous K-code 289 V8 from under the hood of the GT350. Instead, the 1968 range featured the new 302 V8, significantly reducing performance numbers.
The 289 used by Shelby through 1967 developed 306 horsepower and 329 lb-ft (310 PS, 446 Nm), while the following year the small-block cars with the Cobra badge developed 250 horsepower and 310 lb-ft (253 PS, 420 Nm). Shelby Automotive offered a Paxton supercharger as an option on the GT350.
Photo: YouTube/Lou Costabile
With 335 horsepower and 325 lb-ft of torque (340 PS, 441 Nm), it’s right on par with the new 1968 428 Cobra Jet in the GT500 King of the Road in terms of advertised horsepower. Big-block power was far more appealing than a force-fed small-block, so the supercharged Shelby Mustang is far from a common sight. The $465 price tag for the hardware was probably the deterrent that kept buyers from going for a blown Shelby Mustang.
Of the 1,657 GT350s built for the 1968 model year, 404 were convertibles, a first for the Shelby Mustang GT350 and GT500 lineup. The remaining 1,253 examples were all fastbacks, just like the one that fascinates Terry Skweres, author of the quote at the beginning of this story and owner of a GT350.
He had the car for twenty-two years and enjoyed every minute of it, even if the odometer didn't give away that. With just 48,146 miles (77,483 km) on the odometer, this example of a Calypso Coral is not a survivor. The livery was refreshed after the current owner purchased it. It is also one of 528 examples equipped with a four-speed manual transmission connected to a 2.75:1 rear differential.
Photo: YouTube/Lou Costabile
The owner has done no work on the car other than refinishing it from Lime Gold to this orange hue, and is very proud of the Carroll Shelby signature on the dash. The unusual color makes this 1968 one of a kind, as Calypso Coral was not available on Ford Mustangs that year, but in 1969.
Also, as viewers of the video attached to this story pointed out, this particular GT350 looks like it could use some valvetrain work (yes, they’re hydraulics, but something is squeaking). This one-of-a-kind 1968 Shelby Mustang GT350 is the latest star on Lou Costabile’s YouTube channel. If you’re a fan of classic Americana, subscribe to the channel—he’s featured some pretty cool cars over the years, with more on the way in the coming months.
