Introduced midway through the 1968 model year, the Shelby Mustang GT500KR was developed as a more potent successor to the GT500, pairing Shelby’s aggressive styling with Ford’s newly introduced 428-cubic-inch Cobra Jet V8. Only 518 GT500KR convertibles were produced, making the body style substantially rarer than the fastback.
This 1968 Shelby Mustang GT500KR convertible, finished in Candyapple Red, was originally sold in Minnesota before moving to California, where it remained registered through the mid-1990s. It was subsequently imported to Canada, where its previous owner acquired it in 2001. The car remained with that owner until 2025, when it was purchased by the current selling dealer. A Deluxe Marti Report, build sheet, service records, spare parts, and Ontario registration accompany the sale.
The GT500KR’s visual identity remains unmistakable. Its SMC fiberglass hood incorporates a functional scoop, while grille-mounted Lucas driving lamps, quarter-panel air scoops, a rear spoiler, and sequential taillights distinguish the Shelby from an ordinary Mustang. The car retains its powered black soft top and 15-inch steel wheels with mag-style covers. Power steering and power-assisted front disc brakes complement rear drums.
Under the hood sits the defining feature: Ford’s 428 Cobra Jet V8, factory rated at 335 horsepower and 440 lb-ft of torque. This example has been modified with ceramic-coated headers, an MSD billet distributor, an Edelbrock Performer RPM intake manifold, an Edelbrock water pump, and a 770-cfm Holley carburetor. The engine received a long-block rebuild in 2022, following earlier fuel-system and sealing work.
The drivetrain remains period-correct in configuration, sending power through a three-speed automatic transmission to a Traction-Lok limited-slip differential. Inside, black Luxury vinyl upholstery, a Tilt-Away steering wheel, 140-mph speedometer, 8,000-rpm tachometer, auxiliary Stewart-Warner gauges, and the Interior Décor and Visibility groups preserve the GT500KR’s distinctly late-1960s character.
The five-digit odometer displays 62,000 miles, although the mileage is considered inaccurate and the true total is unknown. That distinction matters for collectors, but the car’s rarity, Cobra Jet specification, documentation, and convertible configuration remain its strongest attributes.
1968 Shelby Mustang GT500KR Convertible For Sale – Image Gallery
Source: Bring a Trailer
