Ford has unleashed the ultimate Mustang for 2007. The Shelby GT500 is without equal in the Mustang lineup in performance and price. Power is provided by a massive 5.4L V8 engine rated at 500 hp and 480 lb-ft of torque. Although the Mustang's solid rear axle is retained the GT500 gains a six-speed manual as the only available transmission. In addition to raw power, the GT500 also features a re-tuned suspension with 255/45ZR18 tires in front and 285/40ZR18 tires in the rear. Larger Brembo brakes help provide the necessary stopping power. Visually, the GT500 wears a distinctly styled front-end largely to help house and cool the larger engine. The performance comes at a price that cracks the $40k barrier.

What Changed:

All-new range topping Mustang features a 5.4L V8 rated at 500hp and a six-speed manual. The ultimate factory-tuned Mustang also features upgraded suspension, brakes and large 18-inch tires.