The Ford Mustang Cobra Jet, introduced in 1968, is a legendary nameplate within the Mustang lineage. While not the rarest Mustang, its limited production of 1,044 units in 1968 and 14,663 in 1969 has solidified its iconic status. Among these, a particularly coveted subset is the first 50 Cobra Jets ever built, often referred to as the “135 cars.”
These early models, all finished in Wimbledon White, were stripped of excess weight and equipped with heavy-duty manual components. Remarkably, twenty of these cars were produced without even basic insulation. Now, another opportunity has arisen for collectors, as the earliest-produced Cobra Jet has emerged on the market.
This particular car, the third to roll off the assembly line, carries the VIN 8F02R135009. Initially delivered to Paul Harvey Ford in Indianapolis, it was utilized for promotional and racing purposes, making it a piece of Mustang history. A highly sought-after 1968 Ford Mustang Cobra Jet Lightweight, a rare breed with only 50 examples ever produced, recently faced an unexpected setback in the auction block.
This particular car, boasting a storied history that spans high-speed Indiana drag strips to the competitive Colorado racing scene, failed to meet its reserve price. Despite undergoing a comprehensive restoration that includes a potent 428-cubic-inch Cobra Jet V8 now churning out 407 horsepower and 494 pound-feet of torque, the bidding for this documented Lightweight fell short.
The Mustang’s authenticity is irrefutable, backed by a Marti Report confirming its coveted Lightweight status. Yet, the auction result stands as a surprising anomaly in a market where similar vehicles have commanded substantial sums.
Recent sales of comparable 1968 Cobra Jet Lightweights have consistently exceeded six figures, with some reaching as high as $165,000. The discrepancy between these figures and the reserve price for this particular car suggests an optimistic valuation on the seller’s part. As it stands, this iconic piece of muscle car history remains available for purchase, presenting a unique opportunity for the right collector.
