The GT500 was first introduced in 1967 as part of the 1967-1968 Ford Shelby Mustang. Since then, the GT500 has gone on to become on of the most iconic cars ever built, achieving almost mythical status. Initially offered solely in a fastback coupe body style, the GT500 became available as a convertible in 1968. These high performance sports cars were powered by Ford's 'FE' 428 V8 engine, which offered 355hp in 1967 and 335hp in 1968. Drive from the engine was sent to the rear wheels through a standard 4 speed manual transmission or an optional 3 speed automatic transmission. The 1967-1968 GT500 was replaced by the 1969-1970 Ford Shelby Mustang GT500.