Three American automotive icons, Ford, Barrett-Jackson Auctions, and Shelby have collaborated to create a limited edition 2008 Mustang Shelby GT, which was unveiled today at the Arizona Auto Show.

The car packs a 319hp (238kW) powerplant with an available 447Nm (330lb-ft) of torque. The Ford Racing V8 engine features a high-flow exhaust system with X-pipe crossover and sends drive to the rear wheels via a five-speed manual transmission with a Hurst short-throw shifter. A five-speed automatic transmission is optional.

The package includes a Ford Racing Handling Pack with special-tuned dampers, unique sway bars and a 3.55:1 ratio rear axle assembly. Overall ride height was dropped and a front strut-tower brace added.

Other features include black 18in alloys, a Shelby Cobra roadster hood scoop, LeMans hood and side stripes and full black interior trim.

Only 100 units will ever be made, priced at $38,980, with the cars set to be sold through Ford dealers from today onwards. The purchase price of each car will include a $250 donation to the Carroll Shelby Children's Foundation.