Shelby American
GT350 (1965 model year)

Why it matters

The 1965 GT350 was the first Shelby Mustang. Carroll Shelby turned Ford's K-code Mustang fastback into a road-legal SCCA B-Production racer, and the 1965 cars are regarded as the purest and most desirable of the line. Only 562 were built.

How rare is it?

Six separate kinds of rarity – never combined into one number.

Each kind of rarity is rated separately and never combined.

Production

Every figure says what it counts.

Independent counts (e.g. engine and colour) are never combined into a calculated figure. Surviving examples are never presented as original production.

History

Lee Iacocca wanted racing success to give the new Mustang a performance image and turned to Shelby, who was then managing Ford's GT40 programme. The GT350 was Shelby's answer, and the GT350R variant won the SCCA B-Production title three times. All 1965 cars were Wimbledon White with Guardsman Blue rocker stripes; Le Mans stripes and Shelby/Cragar wheels were options.

Beyond the K-code 289 engine, Shelby American added a fibreglass hood, upgraded front and rear suspension, a lightweight aluminium T-10 gearbox, a Detroit Locker rear axle, an aluminium intake manifold, a Holley carburettor and tri-Y headers. The rear seat was deleted to meet two-seat SCCA rules and a fibreglass package tray carried the spare. A centre dash pod held a tachometer and oil-pressure gauge.

Technical specifications

Engine

Transmission & drivetrain

Chassis, body & dimensions

Performance

“Not yet verified” means no source has been checked for that value yet. Nothing is estimated to fill a gap.

Identification guide

How to tell an original from a replica or later conversion.

Shelby serial numbers carry the SFM 5S prefix, and each car has a confidential Ford serial number on the driver-side fender which registrars verify, plus the SFM number stamped on the passenger-side fender. The earliest cars, numbers 015 to 113, were built for SCCA homologation, and cars numbered 001 to 338 have the battery mounted in the trunk. Correct cars have the fibreglass hood, a shortened aluminium T-10 transmission and a deleted rear seat with fibreglass package tray. Engine and drivetrain swaps exist: one catalogued car carries a Boss 302 with Weber carburettors, so period-correct engine castings and the registry record matter.

Sources

Each number links to the exact facts it supports.

1. 1
   RM Sotheby's – 1968 Shelby Mustang GT500-KR Convertible (John Staluppi Collection 2012) Level B

   • 562 all 1965 Shelby GT350s built (street, R and drag)

   Accessed 2026-11-12
2. 2
   1965 Shelby GT350 (Dare to Dream Collection) Level C RM Sotheby's

   • Shelby used Ford's K-code Mustang fastback as the base
   • aluminum intake, Holley carburetor, and tri-y headers
   • lightweight aluminum T-10 gearbox, and a Detroit locker rear axle
   • four-speed Borg Warner T-10 transmission
   • fiberglass hood

   Accessed 2026-11-12
3. 3
   1969 Shelby GT350 SportsRoof (Staluppi Collection) Level C RM Sotheby's

   • 289-cubic inch V-8 had been reworked to give 306 brake horsepower
   • Koni shocks, while a larger front stabilizer and a one-inch sway bar

   Accessed 2026-11-12