2008 Ford Shelby GT500KR

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What is it?
2008 Ford Shelby GT500KR

What's special about it?
With the introduction of the 2008 Ford Shelby GT500KR model at the New York auto show, Ford and Shelby will have unveiled four Mustang variations in a little over a year's time.

The GT500KR will be easily the most powerful of a bunch that also includes the 500-horsepower GT500 and the 319-hp Shelby GT, as well as the limited-edition Shelby GT-H produced for use in Hertz rental fleets.

The GT500KR revives a name last used 40 years ago. It will be powered by a version of the standard GT500's supercharged 5.4-liter V8 that makes about 40 hp more. That would bring the total to 540 hp, although Ford is not yet ready to commit to that number officially. (The car doesn't go on sale until next spring so the company still has some time.)

Whatever the specific increase turns out to be, it comes from the Ford Racing Power Upgrade Pack, which includes a cold-air intake and a louder low-restriction exhaust. The KR should also feel a bit faster thanks to recalibrated ignition timing and electronic throttle settings, which promise quicker throttle response.

The engine will be bolted to the same Tremec six-speed manual transmission as used for the regular GT500, although the KR version gets a shift linkage with 25 percent shorter throws and a big, white ball on the shift lever. The KR also gets a boost in acceleration from a shorter, 3.73:1 final-drive ratio (in place of GT500's final-drive ratio of 3.31:1).

More aggressive dampers and springs along with stiffer antiroll bars and a strut-tower brace, all unique to the KR, should help provide for entertaining handling and a pretty hard-core ride. The production version will come with 18-inch wheels and not the shiny 20-inchers of the show car pictured here. Although the smaller wheels likely will have "Shelby" engraved on the rim, just as these show-car wheels do.

We lost track of how many times this car has the S-H-E-L-B-Y tacked on. It's on each of the wheel rims, as well as the center caps. It's on the trunk lid in big block letters. And most obvious of all, it's in similarly large block letters on the leading edge of the KR-specific hood. A little retro touch that, and a handsome one.

In fact, the shape of the bulging hood is a deliberate retro touch, with two long, narrow air intakes up front, just like the original '68 model. It's a decidedly modern interpretation, though. It's constructed of carbon composite (Ford expects that you'll be able to see the weave texture through the paint on production versions), and has two stainless-steel hood latches, where pins would have gone on a '68 GT500KR.

Lest we forget, there's also Shelby logos on the seats and a plaque of authenticity mounted inside with a representation of Carroll Shelby's signature.

Only 1,000 KRs will be built (with final fitting done at Shelby's facility in Las Vegas), so collectors will surely be lining up, as well as ponying up a considerable amount of money. The KR should list for about $50,000, although we'd be shocked if you could get one for less than $60,000. Unlike the '68 model, no convertible version will be available.

One could also choose to simply build a KR for oneself. All of the mechanical upgrade parts will be available from Ford Racing or Shelby at the same time as the genuine KRs go on sale. The only piece currently not planned to be sold separately is the carbon hood, but we imagine someone resourceful could probably get his hands on one.

What's Edmunds' take?
Sure, Ford and Shelby continue to feverishly milk the same cow. But that doesn't mean the KR isn't a cool car. — Daniel Pund, Senior Editor, Detroit