1965 Shelby Mustang GT 350 R-Code

The “R” is for race, no joke. After serial number 34, Shelby-American began using an R as the second digit of the vehicle identification number (VIN). But in these early days, both Ford and Shelby-American were not clear on the direction of this new high-performance Mustang.

Two things were definite. First, Ford wanted a higher-performance, specialty version of its Mustang sports car. Second, it wanted a car that could compete and win against Chevrolet’s Corvette. The latter suggested a two-seat car and this could be achieved by removing the back seat from a Mustang “2+2” fastback. Higher performance meant massaging the 289-cid V-8, since Ford’s big-block engines would not fit in the Mustang (yet) and because the small-block worked best for road racing because of its weight. Both jobs were turned over to Shelby-American of Los Angeles, which had taken the AC-based Cobra roadster and thrashed Corvettes in USRRC (United States Road Race of Champions) racing.

At the same time, the Cobra completely overpowered the Corvette in SCCA A-production racing and beat out Ferrari for the World Manufacturer’s Championship. Ford decided that it made a lot of sense to hire Shelby to turn the Mustang into a contender that could beat the Corvette in SCCA B-production racing. Ford knew this would further reinforce the muscular image of the new pony car.

Shelby American proceeded to build a street version of a new GT Mustang, which Carroll Shelby himself named the GT 350. This was a rather obvious reference to the 350-cid small-block engine from Chevrolet, although Shelby gave the press some story about walking off 350 steps. With racing wins a major goal, Shelby-American also built a “ready to race” competition model that was not meant for street use. It was called the R-model.

To satisfy SCCA regulations at least 100 cars (race and street versions) had to be built. Therefore, 100 white fastbacks – each fitted with the 289-cid high-performance K-code V-8s with solid valve lifters and 271 hp – were lifted off an assembly line at the Ford plant in San Jose, California and whisked away to Shelby’s Los Angeles factory. The R-model came with the high-performance features of the street GT-350 – the 289-cid 306-hp small-block with a hi-rise aluminum intake manifold, four-speed transmission, No-Spin differential, lowered suspension and lots more – plus special R-model features.

The Shelby GT 350 R-code Mustang was so tuned for racing that only 36 were sold. However, they were available to anyone willing to pay the base price of $5,950 to buy an out-of-the-box race winner. The 1965 Shelby GT 350 R was the SCCA B-production nation champion in 1965, 1966 and 1967.Car & Driver magazine tested a Shelby Mustang GT 350R in its May 1965 issue. The car moved from 0-to-60 mph in 6.5 seconds. It traveled the quarter-mile in 14.9 seconds at 95 mph. Not bad for a small-block V-8!