Ford GT: Production Continues for the Iconic Supercar

CHICAGO - FEBRUARY 11: 2016 Ford GT is on display at the 108th Annual Chicago Auto Show at McCormick Place in Chicago, Illinois on February 11, 2016. (Photo By Raymond Boyd/Getty Images)
CHICAGO - FEBRUARY 11: 2016 Ford GT is on display at the 108th Annual Chicago Auto Show at McCormick Place in Chicago, Illinois on February 11, 2016. (Photo By Raymond Boyd/Getty Images) /

When Ford announced the return of the iconic Ford GT, they did with the caveat that there were only going to be 500 produced. All that changed today, and 500 more GT’s will be hitting the streets through 2018.

When Ford announced the application process for the ability to purchase the new version of the Ford GT, they received more than 6,500 applications. Their new supercar was going to be sold to true Ford enthusiasts, former GT owners, and prominent personalities.

Many were upset they were not chosen to be one of the exclusive 500, and some even took their complaints to social media. Looks like those that missed out on the opportunity to spend $450,000 on the instant classic now have another opportunity to join the exclusive club of GT owners.

It should come as no surprise that Ford has decided to continue to build more of the GT’s given the overwhelming demand from consumers and success on the track. Ford has announced that they will have two more production years with 250 cars being built annually.

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The old racing adage, win on Sunday sell on Monday fits the Ford GT perfectly. Its success in IMSA and winning the 24 hours of Le Mans have raised the stature of the legendarily badged car to even greater heights.

For Ford, it is a way to get a greater return on the investment of the development of this modern marvel.

It is also able to fulfill the dreams of well-heeled enthusiasts who wanted to slide behind the wheel.

The continued production of the 2016 Ford GT greatly differs from the original return of the iconic car in 2004. Demand originally well-outpaced production that resulted in massive dealer markups. The difference being that in 2004 there were no production caps.

Near end of the run in 2005 you could actually find GT’s on lots around the country for sale. The exorbitant dealer mark ups, sometimes more than $100,000, dwindled and the demand for the car fell as more than 4000 were built.

This time around Ford is selling the GT themselves and selecting the owners personally. The price is set, no markups and if there are not enough applicants the cars will not be built stabilizing the aftermarket price.

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The collector value of the 2004-2005 GT’s had skyrocketed in the last three years with available cars starting at $300,000. While excellent versions selling for well over $500,000. The original MSRP for the 2004 GT was $139,990, so the appreciation of the car has been a boom for people who got in early and held on.

Now for the 500 who received their golden ticket and awaiting delivery, the value of their investments just took a bit of a hit. The extremely limited numbers of additional units being built will help keep the first wave of buyers from feeling taken advantage of.

If Ford sticks to the production limits it will allow for Ford to keep the trust of collector car buyers who have long memories of overproduction.

In the end, everyone wins with Ford continuing the run of one of the greatest cars in American automotive history. With just 500 models originally to be built, the likelihood of ever seeing one driving was very slim. Getting production to the point where people actually drive them increases its legacy and value.

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As long as the Ford GT is having success on the track, the demand for the 600 horsepower street version in such limited numbers will be sky high. Now I just need to find a way to scrape together the $450,000 to get one myself!