The Series 1 is powered by a DOHC V8 engine from Oldsmobile’s Aurora line, upgraded by Shelby to produce approximately at 6,500 rpm and of torque at 5,000 rpm in its standard naturally aspirated configuration. Two upgrade options were available from Shelby American: the X50 performance package and a supercharged variant. The first option, called X50 cost US$20,150. It was supposed to add an additional to the engine's power output. The second option included the addition of a supercharger costing US$35,100 which increased the power output up to . Shelby American Records show only 11 cars were built with both X50 and the supercharged options. Although the X50 package came up short of its advertised gains, both options worked well together pushing the power output to just over . The X50 optioned cars required a US$4,160 2 piston brake package upgrade. While factory supercharged cars were additionally required to add an US$11,050 4 piston brake package upgrade and were additionally fitted with a special dual disc clutch system. The Series 1 came with features such as
power steering, power disc brakes, factory air conditioning, power windows, and an AM/FM/CD audio system. The convertible top folded away into a compartment located behind the cabin. Some cars were sold as a true open tops with no convertible tops. The Series 1 has dual wishbone suspension with coil-over remote reservoir dampers mounted inboard, and actuated by rocker arms. The engine was mounted completely behind the front axle, helping give the car a 50/50 weight distribution, and drove a drive shaft supported in a
torque tube that spun a 6 speed
ZF trans-axle specially modified for the Series 1. The chassis was made of extruded and formed 6061 aluminum. It was welded together and then post-heat-treated for maximum strength throughout. Then aluminum honeycomb panels specially designed were bonded into the floor boards and rocker panels for added structure and stiffness. The body panels were carbon fiber and fiberglass laminate. The engine, torque-tube, trans-axle, and damper mounts were all rubber-isolated from the frame. The supercharged prototypes had an engine power output of and of torque. The Goodyear Eagle F1 tires specially made for the car, were based on an IMSA racing rain tires that had been used for the show car. In a
Motor Trend road test, the naturally aspirated version recorded a 0-60 mph (0–96 km/h) acceleration time of 4.4 seconds and a quarter mile time of 12.8 seconds at . ==Other specifications==