Ford will build them for an additional two model years.
When the Ford GT first went on sale, getting one wasn't exactly easy. Hopeful owners needed to apply and prove they were deserving of the chance to hand over $450,000 in exchange for the car. Once accepted, you had to promise Ford you wouldn't try to flip the car for a profit, but it was only a matter of time before owners found a loophole.
GT prices have been skyrocketing due to their rarity and Ford's contract not to sell them. Now, Ford says it will build more cars to fill the demand.
Ford initially planned to build 500 examples in the first two years with a production run of four years. This meant only 1,000 lucky customers would be able to place an order for a 2016-2020 model year GT. Now, Ford has decided to extend production through 2022, offering an additional 350 cars. There will now be a total of 1,350 examples built from 2016 until 2022, which may have a slight negative effect on the resale value. Buyers are willing to pay over double the original asking price to get a GT, and this small increase in production won't change the market too much.
"The response to our Ford GT has been unprecedented, with initial demand outstripping supply by more than six-to-one," said Hermann Salenbauch, Ford Performance director. "By extending the Ford GT production run for a limited period, we're able to maintain the exclusivity of the ultra-desirable supercar while offering the ownership experience to a greater number of customers."
The application process will reopen on November 8, and prospective buyers will have 30 days to submit their application. Previous applicants will have to modify their original application in order to be considered for a new GT.