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Chicago LIVE: Shelby announces GT350 convertible, two new colors

Shelby has added a new bodystyle and two new colors to its reborn GT350 high-performance machine.

Following in the footsteps of the original GT350, Shelby American announced today at the Chicago Auto Show that it will offer a convertible version of its reborn muscle machine for 2012.

Just 350 2012 GT350s will be built, including the existing coupe and the new convertible platforms. In addition, Shelby confirmed that two new colors - red and blue - will be added to the current white with blue stripes package.

"Last year, we brought back the GT350 45 years after it was launched," said Carroll Shelby, founder of Shelby American, in a statement released to the media. "They look and sound just like the ones we built in 1965. We're repeating history by offering two additional colors and building a few convertibles for the second year of production."

In 1966, Shelby added new colors and a very limited-run convertible to the original GT350 lineup. For the 2012 model, a light bar will be available.

GT350s will continue to be available with both 430-horsepower naturally-aspirated V8s or a pair of supercharged versions putting out either 525 or 624 horsepower. The naturally-aspirated version, which is eligible for SCCA competition with the hardtop, is available with an automatic transmission, while all supercharged models are exclusively offered with manual transmissions. The GT350's basic package builds on the Ford Mustang GT's Coyote V8.

The GT350 remains a $26,995 upgrade for the naturally-aspirated model or a $33,995 addition to the price of a Ford Mustang GT.