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1.
After failing to purchase Ferrari, Ford decided that they had to beat them. They went to Carroll Shelby to help them design their new supercar to win at LeMans. By 1964, the protoype GT40 was ready. The GT stands for Gran Turismo, and the 40 stands for 40", the height of the car. It went 3 stages (Mark I, Mark II, Mark IV) and ended winning the 24 Hours of LeMans in 1966, '67, '68, and 1969. It was powered by a 427cid V8 produced upwards of 500hp.
I want a red '66 Mark II Ford GT40.
by Mya Jadg September 05, 2005
 
2.
The Ford car produced to beat the then champion Ferrari. Won 3 Le Mans. Known as the "40" as it was only 40 inchs from the ground. Ford have produced a new version the Ford GT (however it is 43 inches off the ground.)
The GT40 is the most beautiful car ever
by Son Of Ronin July 18, 2004
 
3.
(n.) Ford's greatest triumph. After the failed purchase of Ferrari, Ford decided to punish them by beating them on the track. Realising that thier early car could not get anywhere near the Ferrari (It was "convertable yellow saab"), Ford allowed themselves ten times the budget of Ferrari, and sent the car to Britain, where it was worked on. The last bugs that needed ironing were finished in the US, but the car, despite successfully beating the 250 GTO, is worth much less because of poor quality. When used conventionally, the Ford fares more like a road car souped the fuck up. All in all, a fast, but shoddy car. But then, it is a ford....
I wouldn't mind a GT40.
by Kung-Fu Jesus May 05, 2004