2026 Ford Mustang Shelby GT500 Is an American Pony Car Worth Waiting For

Illustration by Avarvarii|Car and DriverWhat It IsSince its debut in 1967, the Ford Mustang Shelby GT500 has been the head honcho of the Mustang lineup. After being discontinued in 2022, the high-performance model is set to make a return for the 2026 model year. The GT500 could, however, wear a new name, with rumors that Ford has not renewed its license to use the Shelby name on its products. The company also filed a trademark this year for “Dark Horse Boss” in Europe and for “Boss” in the United States, although these badges could be applied to another model entirely. The upcoming GT500 will be built on the latest S650 Mustang platform, likely featuring a supercharged V-8, a host of track-focused upgrades, and a pair of signature racing stripes. Why It MattersThe Shelby GT500 will bridge the performance gap between the Mustang Dark Horse and the GT3-inspired Mustang GTD, providing a track-focused experience at a more accessible price point. The GTD is currently the only option for buyers looking to step up from the 500-hp Dark Horse, but its $300,000-plus price tag and limited availability make it borderline unobtainable. We think the new Shelby GT500 will be significantly more powerful than the Dark Horse but cost much less than the GTD by forgoing many of that model’s race-inspired components.PlatformThe newest S650 Mustang platform debuted in 2024, building on the underpinnings of the previous S550 Mustang with a stiffer chassis, retuned suspension, a quicker steering ratio, and all-new styling. Like the previous model, the newest GT500 will also likely feature beefier brakes, upgraded suspension, and other chassis upgrades to keep its prodigious power in check. KGP Photography|Car and DriverPowertrainWe don’t know what powertrain will appear under the Shelby GT500’s vented hood, but rumors that originated from leaked documents earlier in the year suggest that it will feature a new engine, code-named “Legend.” The last GT500 featured a less potent version of the supercharged 5.2-liter Predator V-8 that currently churns out 815 horsepower in the Mustang GTD, and a version of the Predator is also found in the F-150 Raptor R. A retuned version of that engine is a likely but predictable option. The GT500 could also swap out the 10-speed automatic from the Dark Horse for a dual-clutch transmission, just like the previous model.A less realistic but far more exciting pick would be a modified version of Ford’s supercharged 7.3-liter Megazilla V-8 truck engine. Ford says that the new Megazilla 2.0 crate engine can produce more than 1000 horsepower, blowing the previous GT500’s 760-hp figure out of the water. All of this is purely speculation, but a return to the GT500’s big-block roots would certainly be legendary. CompetitionJust a few years ago, the last Shelby GT500 faced stiff competition from the Chevrolet Camaro ZL1 1LE and the Dodge Challenger Hellcat Redeye. With those models now out of the picture, the new GT500’s natural rivals are a bit less obvious. The Corvette Z06 will likely be its fiercest domestic competitor, although we expect the GT500 to be far more powerful. Other potential rivals include the Cadillac CT5-V Blackwing, BMW M4 CS, and Mercedes-AMG GT Coupe.KGP Photography|Car and DriverWhat Might Go WrongAs a result of the GTD stealing the top-dog position in the Mustang lineup, Ford has the unenviable task of making the GT500 special enough to merit the name without overshadowing its new ultra-expensive halo model. If Ford gets overly concerned with preserving the GTD’s value, the GT500 could end up falling short of expectations. And if Ford does divert from the Shelby name, it will have to find a new moniker that will be accepted by the Mustang faithful.Estimated Arrival and PriceWith test mules currently cruising the streets around Dearborn, Michigan, the new Shelby GT500 is likely right around the corner. We expect it to arrive for the 2026 model year at a price of more than $100,000.See all of the cars worth waiting forMore High-Performance Mustangs