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Spied! Could This Be the Next Shelby GT500?

We could be looking at the next Shelby GT500. Spy shots confirm a much more aggressive Mustang is in the works.

2024 Mustang Shelby GT500 test mule front 3/4
  • A new go-fast Mustang is in the works, and it could be the Shelby GT500.
  • The Mustang we spied rides on very aggressive tires with some new aesthetic updates.
  • A center-exit exhaust is visible, and a huge departure from Mustang design.

You’re looking at what could be the new Shelby GT500. Ford was caught testing this black Mustang S650 mule the other day, and some promising signs point to Shelby’s latest creation. Most notably, Ford appears to be hiding a new center-exit exhaust layout, a huge departure from Mustang design norms.

The test car is buttoned up pretty tight, but our spies report several changes that are already visible in comparison to the standard S650 Mustang. Just above the center-exit exhaust sits a new wing of some variety. This one looks to be a lower ducktail-style wing with some serious angle on it. We’re also betting on a lower diffuser situated on either side of this car’s exhaust.

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2024 Mustang Shelby GT500 test mule

Sandwiched between the two is a large tarp covering the car’s rear fascia. It’s typically where the Mustang logo is stabled (ha), but a Shelby snake could sit there now, along with some potential aesthetic updates. Other items of note at the rear include what could be some underfloor aero. These appear to be strakes leading up to the car’s diffuser. Either that or the exhaust pipe hangs quite low.

Other as-yet-unconfirmed changes will surely be major mechanical updates that we can’t quite put a finger on just yet. We’re betting on revised suspension setups, transmission options, tires, and lots of power and carbon fiber. For now, the brakes appear to be those same Brembo units used by the Mustang Dark Horse, Ford’s hottest Mustang yet as a platform for the newest addition to the Shelby family. As for the tires, those are aggressive Pirelli P Zero tires measuring 275/40 R19 on the rear, with 255/40/R19s out front. For a little comparison, our long-term Shelby GT500 wears 305/30 R20s up front and 315/30 R20s out back.

We can see the general bones of the maybe-500’s face. It looks to be heavily inspired by the Dark Horse. Extra ventilation à la Dark Horse is visible on the hood, and camo covers the most important parts of the car’s face. Just as in the rear, we expect some aesthetic changes here, with a snake mascot replacing the mustang.

2024 Mustang Shelby GT500 test mule

Edmunds says

A new Shelby GT500 is almost certainly in the works, but whether this is said Shelby is not clear. What we do know is it sure looks like a more hard-edged 'Stang typical of the folks at Shelby. The Mustang could be turned into a supercar-beater yet again, and the new S650 platform holds massive potential for tuners like Shelby and other tuning shops alike. For now, the only certainty is more power and more noise from the Mustang — far from a bad thing.