Launched in 1964, the Ford Mustang was a trendsetter. Relatively compact, the car was aimed at young people for its affordability and sporty nature. The product was so popular it was the most successful vehicle launch since the 1927 Model A and sold a million cars in less than two years. It even created a class all its own: The "Pony" Car.
Of course, more is always better and by mid-1964, just as the first Mustangs were hitting the streets, Lee Iaccoca sought out Carroll Shelby to create a racing version of the Mustang. Shelby had only months to build a better handling, harder-hitting powerhouse if it was to compete in SCCA's B Production class. A full roll cage was added to meet competition regulations. For extra drama, qualifying for the SCCA class required production of no less than 100 street-legal examples. Engineered by Chuck Cantwell, Ken Miles helmed the mechanical development with designer Peter Brock on the graphics. They were completed just in time forthe 1965 season.
The GT 350R's first test was Valentine's Day, 1965, at the Green Valley Raceway in Texas. With Ken Miles behind the wheel, the 289 cubic inch (4.7L) K-code V8 engine, Cobra hi-rise intake manifold, a Holley 715-cfm four-barrel carburetor, tubular Tri-Y exhaust headers, and glasspack mufflers, the prototype race won the day. Lap after lap Miles drove it with such ferocity he launched the car over a rise, getting the entire thing airborne. A photographer caught the moment where all four wheels floated above the track, earning the monicker "The Flying Mustang." Shelby ran with it, promoting their cars with the slogan "See, our Mustangs really Fly."
35 years later, the same car would be sold at auction for the price of $3.8 million, making it the most expensive Mustang ever sold.
