The Mustang Cobra Jet was the fastest Mustang of all, with a 7.0L V8 engine and around 335 HP. Specially invented for the track and ¼ of mile. This car didn't have a lot of luxury because they wanted to make as light as possible but it had emblems and stripes all around the body which made it look sick. This car only came with a manual transmission. Today's 2016 Ford Mustang Shelby GT350 is more than a ¼ of mile monster. It also is the best and fastest Mustang ever created with a 5.2L V8 engine and 526 HP making 4.3 seconds from 0 to 60 MPH and11.76 seconds the ¼ of mile with a top speed of 197 MPH and giving you 14/21 MPG.