text: For 1967, the GT350 carried over the K-Code high performance 289 with a 'COBRA' aluminum valve cover. The GT500 was added to the lineup, equipped with a  "Ford Cobra" FE Series Cobra Jet V8 engine with two 600 CFM Holley four-barrel carburetors mated to a mid-rise aluminum intake manifold.
  Documented plans to introduce a convertible mid-production year were shelved due to supply, production and financial problems that happened as soon as the first cars started to arrive at Shelby's Los Angeles facility in September. By October 1966, Ford took control of engineering and purchasing. A.O. Smith was tapped to fix the fitting of fiberglass components. In May 1967 the decision was made to terminate the California-based Shelby operation. On August 18, 1967, a small carryover Shelby staff, along with the remaining engineering cars, was sent to Ionia, Michigan; Shelby personnel had substantially less involvement after this time.
  Notable cars for 1967 include:
  0100, the first GT500 built.
  0131, the only Shelby GT coupe built ("Little Red'), which was the precursor to the '68 California Special. The original GT500 "L'il Red" was rediscovered in a Texas farm field in March 2018
  0139, the only Shelby GT500 convertible built (in 1967.
  Cars 0100, 0131 and 0139 were the first big block Shelby GT cars ordered and built.