The Shelby GT500
Shelby and Ford returned for the 2007 model year with the Shelby GT500. Introduced at the 2003 New York International Auto Show, the GT500 uses a 5.4 L (330 CID) Modular 500-hp supercharged V8. Features include the Tremec TR-6060 6-speed manual transmission, suspension tuning, a body kit, and 18 inch wheels. It should be noted that these models are not "True Shelby" vehicles as they were build entirely in Michigan. They are as much "Shelby" as the Harley-Davidson F-Series trucks are Harley-Davidson's.

Deliveries of the Shelby GT500 began in May 2006.
A collaboration of Ford's Special Vehicle Team (SVT) and Carroll Shelby, the GT500 will be produced in limited quantity for three years (approximately 10,000 units per year) on the line at Ford's Flat Rock, Michigan (AutoAlliance) assembly facility.

2008-2009 Ford Shelby GT500KR
2009 Shelby GT500KR

The Ford Shelby GT500KR, revealed at the 2007 New York International Auto Show, was released in the spring of 2008. The car is powered by a 540 horsepower 5.4-liter supercharged V-8 variation with a Ford Racing Power Upgrade Pack. SVT and Shelby announced that 1,000 40th Anniversary Editions will be built for the U.S. in 2008, with another 571 units in 2009. This 1,571 production run matches that of the original 1968 GT500KR. In total, 1,746 units will be produced, with the extra 175 units going to other markets.

The Shelby GT500KR features a carbon composite hood with scoops and hood pins, a lowered front air dam, and 14-inch Brembo brand front brakes with functional cooling ducts. The suspension has been modified and tuned by Shelby Automobiles and Ford Racing including unique spring rates, dampers, stabilizer bars, and strut tower brace, all designed specifically for the KR.

The GT500KR draws on styling features from the classic 1968 "King of the Road" GT500KR model, and the 2008 model includes "40th Anniversary" badging; both years will have silver paint with blue "LeMans" stripes, and Carroll Shelby signature embroidered seats. The GT500KR's price will be $79,995.

The GT500KR is featured prominently in the new Knight Rider television series on NBC. One of the main characters of the show is KITT, an advanced Artificial Intelligence housed in a GT500KR.

Specifications
• Front engine, RWD, 4 passenger, 2 door coupe
• Supercharged DOHC 32 valve V8 engine
• 330 CID (5408 cc) displacement
• Power: 540 hp (410 kW) (550 CV)
• Torque: 510 ft.-lbs.
• 6 Speed Manual Transmission
• 3.73 differential ratio
• 18 x 9.5" Alcoa wheels on Goodyear F1 tires (front: P255/45ZR18 rear: 285/40/ZR18)
• Tuned suspension by Shelby and Ford Racing
• 3,800 lb (1,700 kg) curb weight
• 107.1 in (2,720 mm) wheelbase
• 188×73.9×54.5 in (4.78×1.88×1.38 m)
Performance [6]
• 0-60 mph (0-97 km/h): 4.1s
• 1/4 mile: 11.92s @ 120 mph (11.58 @ 122 mph on drag radials)