Paul Katsus once owned a legendary 1968 Shelby GT500 KR mustang. The 1968 Shelby GT 500 KR was a Mustang produced by Shelby that featured the new 1968 Ford produced 428 Police Interceptor engine fitted with improved heads, medium rise manifold, and a larger exhaust manifold. The finned die cast aluminum valve covers with “Cobra Lemans” on them was new to this model year. This was to note the Fords FE engine family victory over Ferrari at Le Mans in 1966 and 1967. The engine was underrated for insurance purpose at 335 horsepower (most experts estimated the true horsepower of over 400 horsepower). The 440 foot-pounds of torque at 3400 RPM was quite impressive.
The “KR” designation stood for “King of the Road”. Legend has it that, Carroll Shelby had heard that Chevy was about to use the “King Of The Road” name for one its upcoming cars, so he beat them to it. Like all Shelby based Mustangs, the GT500 KR came with weight reducing fiberglass components that included hood, front end, trunk and rear spoiler. Fog lights (Lucas Brand fog lights) were standard as well as, a padded roll bar, and special seat belts, The glove box had a label attached to the inside of the door that stated “For sustained speeds of 100 MPH or more for a hour – check owners manual”. Many of these standard features were not even available as options on other cars of the day.
The Shelby GT500 KR cars came out in April of 1968 and were made to the end of the model year. There were not any 1969 or 1970 (1970 Shelby’s were left over 1969 models that were reassigned as 1970 models) GT500 KR models. Today the 1968 GT500 KR is one of the most sought after of all Shelby Mustangs. The GT500 convertible is even more rare than its fastback version. The were 318 (according to one source) GT500 KR convertibles made.