The 1967 Mustang was the model's first major redesign. It grew larger and heavier, partly to make room for a big-block V8 engine for the first time. Ford installed the 390 cubic inch V8 from the Thunderbird, giving the Mustang serious performance credentials. The styling was also updated with a more aggressive grille, concave taillights, and simulated side scoops. For 1968, changes were minor and focused on safety, with the addition of side marker lights and an energy-absorbing steering column.
Collectors prize these cars for their tougher appearance and the availability of big-block power. The fastback, immortalized by Steve McQueen's 1968 GT in the movie "Bullitt," is the most desirable body style. High-performance models like the Shelby GT350 and GT500, especially the 1968 GT500KR (King of the Road) with its 428 Cobra Jet V8, are the most sought-after variants. Their combination of style, performance, and pop culture fame makes them cornerstones of American car collecting.
The market for 1967-1968 Mustangs is incredibly diverse. Six-cylinder coupes remain an accessible entry point for classic car ownership. Well-optioned GTs and big-block cars represent the strong middle market, while documented Shelby models command the highest values. With an average sale price near $60,000, the market is skewed by top-tier sales, but plenty of driver-quality cars trade for less.
Buying Tips
- Rust is the biggest enemy. Pay close attention to the shock towers, floor pans, torque boxes, and the cowl area below the windshield.
- Verify originality with the VIN and door data plate. A Marti Report is essential for confirming a car's factory options, engine, and colors for 1967 and later models.
- Be aware of fakes and clones. Many base Mustangs have been converted into Shelby or Bullitt lookalikes. Authenticating a real one requires expert inspection and documentation.
- Fastbacks command a significant premium over coupes and convertibles. Unless it's a rare performance variant, a coupe should be priced substantially lower than an equivalent fastback.
Prices for 1967-1968 Mustangs show a vast spread, from project cars selling for as little as $414 to $3,400,000 for historically significant models.
6,024 Ford Mustang 1st Gen (1967-1968) vehicles have been tracked across auctions and listings on Hypercars, with 1287 currently live.
Data sourced from Bring a Trailer, Cars & Bids, eBay Motors, PCarMarket, and Collecting Cars. Updated daily.
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