2023 GT500 Code Red

What might a Ford Mustang be like if its performance were dialed up to hypercar levels?

Shelby American has the answer in the form of its new Code Red upgrade for the Ford Mustang Shelby GT500.

The upgrade is priced from a steep $209,995, and that doesn't include the cost of the donor Shelby GT500, but what you get is one of the most extreme Mustangs on the planet.

2023 GT500 Code Red

2020-2022 Ford Mustang Shelby GT500 Code Red

2023 GT500 Code Red

2020-2022 Ford Mustang Shelby GT500 Code Red

The car is the spiritual successor to Shelby's previous Code Red based on the fifth-generation Mustang Shelby GT500, which was revealed in 2008 and developed in partnership with Nelson Racing. However, the high cost of the car and the global financial crisis at the time meant production never happened.

This time 30 cars are planned—10 each for the 2020, 2021, and 2022 model years of the sixth-generation Mustang Shelby GT500. Instead of Nelson Racing, Shelby teamed up with Fathouse Performance to extract a hypercar-worthy 1,300 hp and 1,000 lb-ft of torque from the Shelby GT500's supercharged 5.2-liter V-8. Those lofty figures are on E85. Switch to regular pump gas and you're still looking at an impressive 1,000 hp and 780 lb-ft of torque.

The key upgrade is a twin-turbocharger setup, along with upgraded versions the fuel system, engine management system, cooling, and intake and exhaust. The twin turbos come from Fathouse Performance, which also supplied the intake manifold, intercooler, throttle body adapter, and an ice tank with reservoir.

2023 GT500 Code Red

2020-2022 Ford Mustang Shelby GT500 Code Red

2023 GT500 Code Red

2020-2022 Ford Mustang Shelby GT500 Code Red

2023 GT500 Code Red

2020-2022 Ford Mustang Shelby GT500 Code Red

But the upgrades go well beyond the powertrain. The car also wears Shelby's wide-body kit for the sixth-generation Mustang, as well as new 20-inch wheels, a carbon-fiber hood and front splitter, a rear diffuser, and a large rear wing. New half-shafts and height-adjustable springs are also added. The donor car's standard magnetic ride suspension is also recalibrated, according to Shelby. The tires measure 305/30 up front and a massive 345/30 at the rear.

The interior wasn't left untouched. The front seats are lined in Shelby's own leather trim, while the rear seats are removed and replaced with a harness bar. There's also a plaque on the dash stating the build number.

The upgrade is installed at Shelby American's headquarters in Las Vegas, and the company states that the first builds are already in progress. Each build will be entered in the official Shelby Registry.

Famed Ford tuner Shelby has released its most powerful upgrades to the Ford Mustang yet with the GT500 Code Red, fitting the muscle car with twin turbochargers and up to 969kW – for a $US209,995 ($AU304,500) premium.


Legendary US tuner Shelby has unveiled its latest upgrade package for the Ford Mustang GT500, believed to be the most powerful ever fitted to the iconic muscle car.

Available for the Mustang Shelby GT500 in the US, the Code Red package turns Ford’s muscle car into a 969kW/1356Nm track-only weapon, with the tuning firm claiming the GT500 is no longer road legal due to its modifications.

The Code Red’s upgrades are highlighted by a pair of turbochargers which replace the supercharger fitted to the donor car’s 5.2-litre petrol engine.



According to Shelby, almost all of the Mustang GT500 engine’s components have been upgraded for the Code Red to produce in excess of 746kW and 1058Nm when using 93 octane unleaded petrol (equivalent to more than 98 octane in Australia).

However, when running on E85 – a blend of 85 per cent ethanol and 15 per cent unleaded – Shelby claims the GT500 Code Red can produce up to 969kW/1356Nm, making it 404kW more powerful than the standard Ford Mustang Shelby GT500.

Power is sent to the rear wheels through a seven-speed, dual-clutch automatic transmission which is exclusive to the Shelby GT500.



Shelby R&D chief Vince LaViolette claims the GT500 Code Red is best suited to straight-line situations, despite a number of handling-focused upgrades.

"All of the massive horsepower and torque we develop with the new Code Red car required us to focus on optimising traction,” Shelby R&D chief Vince LaViolette said in a media statement. 

“That is why Code Red is more of a straight-line performer than a road course warrior. While not street legal, it's very capable at moderate speeds in most any curve. 



“But when the turbos spool up, the car is best enjoyed moving straight ahead."

Adjustable height springs feature on all four corners of the Shelby GT500 Code Red, paired with stiffer front and rear sway bars plus a revised tune for the car’s ‘MagnaRide’ adaptive damping system.

The Shelby GT500 Code Red is also equipped with a handful of exterior upgrades compared to the donor vehicle, such as a carbon-fibre front splitter, bonnet, rear diffuser, rear wing, and wide-body kit.



The wider wheel arches are filled with Shelby’s 20-inch forged aluminium wheels, measuring 11-inches wide up front and 13-inches wide at the rear – wrapped in 305/30 and 345/30 tyres, respectively.

Interior tweaks include a pair of black and red leather front seats with 'Code Red' logos, while the rear seats have been removed to make space for a roll cage.

Limited to 30 examples, the Shelby GT500 Code Red package is priced from $US209,995 ($AU304,500), excluding the $US79,420 ($AU115,150) pre-tax price of the donor car.



It is also worth noting the Shelby GT500 Code Red package voids Ford’s new-car warranties. 

The Ford Mustang Shelby GT500 has never been sold through the US car giant in Australia, although a handful of examples have been imported and converted to right-hand-drive.

2023 GT500 Code Red

Jordan Mulach is Canberra/Ngunnawal born, currently residing in Brisbane/Turrbal. Joining the Drive team in 2022, Jordan has previously worked for Auto Action, MotorsportM8, The Supercars Collective and TouringCarTimes, WhichCar, Wheels, Motor and Street Machine. Jordan is a self-described iRacing addict and can be found on weekends either behind the wheel of his Octavia RS or swearing at his ZH Fairlane.

Read more about Jordan Mulach

What is GT500 Code Red?

We know the question you most likely have about the Shelby GT500 Code Red, the first twin-turbo, limited-edition vehicle being offered by Shelby American. A car worth more than 1,000 horsepower and 780 lb-ft of torque on 93 octane pump gas, and 1,300 horsepower and 1,000 lb-ft of twist running on E85 ethanol.

How many GT500 Code Red are there?

In addition to the completely updated powertrain setup, each CODE RED Mustang receives suspension, cooling and aesthetic upgrades. The production run will be limited to 10 GT500s from each of the 2020-2022 production year, 30 units total.

How much does a Shelby GT500 Code Red cost?

As you'd expect of a 'Stang with this level of performance, the Shelby GT500 Code Red isn't affordable. Priced from $209,995 excluding the Shelby GT500 on which it's based, the land missile from Shelby American is obviously sold out.

How much HP does the Code Red have?

Shelby American announced a limited production run of a 1300-horsepower variant of the Ford Mustang GT500, named the GT500 Code Red. Shelby will build 30 total examples of the Code Red, 10 for each of the 2020 through 2022 model years.