Each FR500 model is built with a unique Ford Racing number, instead of a DOT VIN.
The mufflers had flaps, which opened under high pressure, thus making the exhaust more free flowing.
[1] The FR500C can either be obtained as a turnkey costing $125,000 or by modding an existing Mustang GT with specified parts from Ford Racing.
This was after several attempts to slow the car down- such as a rearend gears change and additional weight.
The car features similar aerodynamic parts like those used on the FR500GT, but uses a DOT approved racing[3] tire- BFGoodrich g-Force R1.
Designed for Drag Strip use, the newer Cobra Jet features a supercharged 5.4L V8 400 hp (298 kW) but with the Whipple Blower makes about 900 HP engine with a 6-speed manual or 3-speed automatic transmission, one-piece driveshaft, a single-hoop driveshaft loop, Ford 9 inch rear axle, special rear control arms and anti-roll bar, Ford Racing adjustable dampeners and a drag race spring kit.
Engine enhancements include the deletion of the A/C and the addition of a cold air intake, bigger throttle body, a crankshaft dampener and long-tube stainless-steel headers.
[5] The Prototype #1 vehicle was sold in 2009 Barrett-Jackson Scottsdale auction for winning bid price of $375,000.
Paul's High Performance and Ford Racing built a Salt Flat Racer from a FR500C.
Homologated for the 2007 season, the Mustang FR500GT is designed to compete in the FIA GT3 European Championship series.