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Rare 1968 Ford Mustang Cobra Jet Fastback Heading To Auction

Over its 60 years in existence, there have been many rare, special, and highly sought-after Ford Mustang variants, and that includes the model’s first generation, too. Many of those models wore a Shelby badge of some type, but there were also some very special factory-based Mustangs during the car’s early days as well. Regardless, few can hold a candle to this very special 1968 Ford Mustang Cobra Jet, which is a truly rare machine that comes from a very special place.

A rear three quarters view of a rare Holman & Moody 1968 Ford Mustang Cobra Jet race car.

Set to be auctioned off at Mecum’s upcoming Indianapolis sale next month, this 1968 Ford Mustang Cobra Jet is one of just 11 examples built at the famous Holman & Moody-Stroppe shop in California, specifically for drag racing purposes. It was rather successful in that endeavor as well, setting a new record on the track in 1968 on its way to becoming the U.S. Nationals winner and record holder that same year. A year later, the Mustang wound up being featured as an official poster car, too.

1968 Ford Mustang Cobra Jet Fastback Holman & Moody - Interior 001

As part of this conversion, Holman & Moody removed the original 390 cubic-inch V8 and replaced it with the fire-breathing 428 cubic-inch Cobra Jet V8 wearing polished bits, which is mated to a four-speed manual transmission. The exterior is finished in white with a Jerry Harvey & Paul Harvey Ford style livery, along with a ram air hood, chrome bumpers, and polished Cragar five-spoke wheels wrapped with period rubber.

1968 Ford Mustang Cobra Jet Fastback Holman & Moody - Engine Bay 001

Inside the cabin, one will find a black interior with bucket seats, a dash-mounted auxiliary tachometer, and a floor shifter with a white knob, paired with a plaid pattern inside the trunk, where the Optima red-top battery also resides for better weight distribution. This rare machine is being sold with a manufacturer state of origin document, which helps prove its rarity and historical prominence. It’s hard to say what this special Mustang will ultimately hammer for, but we’ve seen some other notable pony cars cross the block and command big bucks in recent years – a list that includes Shelby’s 1968 Black Hornet, as well as a Tasca lightweight Cobra Jet, too.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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