Designed as a follow-up to the 2005 Ford GT, Caroll Shelby and Ford secretly worked on what was meant to be the modern Shelby Cobra. The fully functioning concept is powered by a 6.5L, 605 hp V10, an experimental engine built by Ford's Advanced Powertrain group. This was paired with a Ricardo six-speed Ford GT manual and additional Ford GT components such as the front and rear suspension also made it into the car. While the car was all set for production, the recession halted those plans and only one functioning car exists, which Ford actually disabled due to liabilities but was then restored to full working condition by the same team who assembled the car's chassis.
Set to hit the auction block this August at Mecum's Monterey sale, the 2004 Shelby Cobra Concept is titled and plated for the road and includes a Letter of Authenticity from Ford as well as a build book presented to then Ford COO, Nick Sheele, and a certificate from the Shelby Registry.