2009 Detroit Auto Show: 2010 Ford Mustang Shelby GT500

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DETROIT — With the introduction of the redesigned 2010 Ford Mustang in November at the Los Angeles auto show, you just knew the latest incarnation of the Shelby Mustang had to be just around the corner. In fact, Ford's Special Vehicle Team is pulling the wraps off the 2010 Shelby GT500 at the upcoming 2009 Detroit Auto Show.

There's some good news for pony-car fans: The new model has more power, more torque, better acceleration and — surprise — better fuel economy. The first Shelby GT500 coupes and convertibles should arrive at Ford dealers this spring.

The Shelby GT500's supercharged 5.4-liter V8 has been retuned and boosted to 540 horsepower and 510 pound-feet of torque, and the twin-disc clutch on the six-speed manual gearbox has been upgraded for smoother shifts. The transmission has been regeared, so the car not only accelerates more quickly, it returns even better highway mileage.

To accommodate the additional power, SVT has fitted new 19-inch Goodyear F1 Supercar tires to the GT500 coupe (18s on the convertible), mounted on forged aluminum wheels. A stiffer steering shaft and uprated springs and shocks provide a more controlled ride. Stability and traction control are standard.

To further enhance the new exterior design, the Shelby GT500 gets such details as an aluminum power-dome hood with extractor, a redesigned front splitter and a "Gurney flap" spoiler for more rear downforce. Racing stripes are now available on the GT500 convertible.

Inside, the new Shelby boasts leather seats, aluminum trim and a classic white shift knob.

Inside Line says: Gas at less than two bucks a gallon and a 540-hp Shelby Mustang? What are we, back in the '70s? — Paul Lienert, Correspondent