Shelby pushes into Bugatti territory with the new 1000 S/C - at barely a 10th the price.

While the legendary Carroll Shelby may be gone, but the Las Vegas-based tuner house he launched some years back is determined to make sure his name lives on, as we’ll see at the New York Auto Show this week.

Just a year ago, Shelby American rocketed out its 950-horsepower Shelby 1000, but apparently that isn’t enough power for some of its fans. So, this year, its heading for New York’s Jacob Javits Center with an updated version of that modified Mustang designed to push into Bugatti Veyron territory.

Shelby claims its new, $154,995 version will now make a fiery 1,200 horsepower out of its rebuilt 5.8-liter V-8, making it “the world’s most powerful street production muscle car.”

Declares John Luft, the president of Shelby American, “The 2013 Shelby 1000 incorporates everything we’ve learned over five decades of creating high-performance vehicles.”

As with the 2012 model, the 2013 Shelby 1000 starts out as a relatively tame, 662-horsepower Shelby GT500 – which you have to buy separately from your local Ford dealer before sending it over to Las Vegas for modification.

Shelby American strips the stock V-8 down to the block, then hardens it before adding a whole range of enhancements, including forced induction and a beefed-up cooling system designed to keep that lump of metal from melting down.

The Shelby 1000 undergoes a number of body modifications and also receives the adjustable suspension treatment on top of a new set of brakes big enough to rein in this testosterone-powered pony when the light turns red.

Indeed, while many of the 2013 Shelby 1000 S/C coupes will likely live on the track, factory test driver Vince LaViolette insists it “can be so docile that you can cruise it down the streets of Manhattan.”

Shelby American plans to produce just 100 copies of the new beast and is already taking orders.