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Next Shelby Mustang to wear GT350 nameplate

Earlier this month, rumors started to swirl 'round the web about the next-generation Ford SVT Mustang - the halo version of the all-new 2015 'Stang seen testing in the gallery above. Originally, we heard that the Shelby GT500 moniker would be dumped in favor of "a name you're familiar with," which some sources guessed could mean a return of the Cobra nameplate.
That might not be correct. According to Road & Track, citing a report from Mustangs Daily, the new range-topping Mustang will bring back the Shelby GT350 name - currently used on an aftermarket version of Ford's Pony produced by Shelby American (take a look at our recent Quick Spin of that car). Expect the new GT350 to be quite a bit different than the current GT500 - it will be all motor, using a V8 that's derived from the naturally aspirated 5.0-liter Coyote engine (though it will no doubt have a higher displacement). The GT350 will be a lot more powerful than the next Mustang GT, which is expected to offer something like 450 horsepower, but won't be quite as absurd as the 662-horsepower GT500 we currently enjoy.
The Shelby GT350 will reportedly bow with the rest of the new Mustang range at the 2014 New York Auto Show, which coincides exactly with the original Mustang's debut at the New York World's Fair in 1964. If that seems far out, don't worry, we'll be seeing the rest of the 2015 Mustang range before then, but Road & Track reports that the 2014 Detroit Auto Show stage will be reserved for the reveal of the next Ford F-150 pickup.

Shelby GT name returns for 2014 Mustang with up to 624 hp

Earlier in the year, Shelby American unveiled the 1,200-horsepower Shelby 1000 wearing a price tag of $154,995. Now, the Las Vegas-based company is looking to meet the needs of budget-minded performance enthusiasts with the rebirth of the Shelby GT, which made its debut at the LA Auto Show.
"Budget-minded" is obviously very relative here, but the three levels of upgrades available on the 2014 Shelby GT do represent decent bang for the buck. After purchasing a stock 2014 Ford Mustang GT, which retails for $30,900, Shelby has three packages to improve the Mustang's performance and handling, with the all-in base price coming in at around $45,000.
For $14,995, Shelby will tune your Mustang to 430 horsepower (up from 420 hp) while adding a Borla exhaust, Panhard suspension bar and 20-inch wheels. Shelby also adds its own style with a fiberglass hood, billet grille, unique front fascia and "Shelby" badging on the trunk and seat head rests. If more power is what you're looking for, the Shelby GT/SC adds a Whipple supercharger, Wilwood brakes and performance Michelin tires - for the sum of $27,995. The GT/SC offers a considerable jump in horsepower with the choice of either 525 hp or 624 hp, the latter of which is claimed to give the car a 0-60 time of just 3.7 seconds.

Ford Mustang GT500 successor spied near SVT

Details about the next-gen Ford Mustang are scarce, and there's even less information out there about the upcoming replacement for the Shelby GT500. Previously rumored to drop the Shelby name and wear the GT350 moniker, the highest-performance Mustang has just been spotted testing near Ford's SVT operations.
Despite being cloaked in heavy camouflage, we can instantly tell this prototype is different from other Mustang spy shots we've seen in the past. Aside from the Shelby-spec wheels, quad exhaust outlets (previous spy shots show only two) and beefier brakes, this car also has air intakes on the hood and front fenders. These elements help to neither prove nor dismiss rumors that the next SVT Mustang will be naturally aspirated. It also looks like Ford is may be planning some changes to this car's rear suspension, as there is some extra camouflage added beneath the rear end of this prototype.
As a bonus, these spy shots also give us our first look inside the new Mustang, revealing a new steering wheel (with more buttons) and a glimpse of the dual-pod instrument gauges. Check out past spy shots of the 2015 Mustang showing off its new face and driving around town.