Police investigate brazen theft of rare Ford Mustang Shelby GT500KR worth $400,000

A rare and high-powered Ford Mustang has been stolen in a bold and opportunistic theft from a Melbourne workshop.

A rare Ford Mustang worth an estimated $400,000 has been stolen from a workshop in Melbourne’s east.

Claimed to be the only one in Australia, the Ford was modified by Shelby American to become a Mustang GT500KR – producing 670kW from its 5.2-litre V8 thanks to a 3.8-litre supercharger.

Victoria Police say the dark grey car with distinctive blue stripes and ‘GT500KR’ decals – as well as a Cobra badge on the front grille and a KR badge on the rear – was driven away in the middle of the day from Mustang Motorsports in Ferntree Gully.

“Vehicles were being moved in and out of the showroom at the time, and the key was accessible,” according to police.

The Mustang can also be identified with its rear spoiler, a ‘Mustang Motorsports’ decal across the front windscreen, and personalised number plates ‘900KR’.

Two men have been identified as allegedly being involved in the theft, with the first man being described as Caucasian in appearance, with a slim build, and approximately 190cm tall. He was wearing a blue jumper, black trackpants, sunglasses, and a black baseball cap.

His accomplice is a man described as being described as Asian or Polynesian in appearance, with a slim build and approximately 160cm tall.

He was wearing a blue t-shirt, black trackpants, a grey hooded jumper and sunglasses.

Despite earlier reports of Shelby American having six Australian customers – with the upgrade costing as much as $100,000 – it’s been reported that this is the only Mustang GT500KR in Australia.

“This was an utterly brazen theft of someone’s prized possession and done in broad daylight,” Detective Senior Constable Michael Gatt, Vehicle Crime Squad said in a written statement.

“This is someone with a great love of vehicles who has worked hard to build this car and has had it taken away from him.

“It’s an incredibly rare car, and it is very distinctive – we would encourage anyone who has seen it, or who recognises the two men in the CCTV to come forward and contact police.”

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