A racing legend and a race-inspired car will team up to raise money for the Juvenile Diabetes Research Foundation (JDRF) at the 40th Annual Barrett-Jackson Collector Car Auction at WestWorld in Scottsdale, Ariz.

A spectacular, one-of-a-kind factory-painted Grabber Blue 2012 Ford Mustang Boss 302 Laguna Seca will be sold to the highest bidder with none other than racing great Parnelli Jones providing commentary from the auction stage with Ford’s Mustang team. Jones won the 1970 Trans-Am season opener in a Boss 302 and the Laguna Seca is named after the track where he won that race. The event will be televised live on SPEED channel. Read more!

DEARBORN, Mich., Nov. 11, 2010 – You hold two keys: One has a black Boss logo, the other red: Either will start your 2012 Mustang Boss 302. Slide the all-black key into the lock cylinder, give it a twist and you’re treated to 444 ponies worth of smooth, streetable driving joy. Or choose red – the TracKey – and you have a competition-ready track car.

A joint project between Mustang engineers and Ford Racing, TracKey adds a second set of powertrain control module (PCM) software to a customer’s Mustang Boss 302, activated by a specially programmed vehicle key. When invoked by TracKey, the new TracMode software alters more than 200 engine management parameters, increasing low-end torque and turning the potent but well-mannered stock Boss into a competition-ready track car. Remove TracKey and start Boss with the standard key, and all factory engine settings are restored for a comfortable drive home from the course.

“From an engine management standpoint, we’ve done just about everything possible to give TracKey users a full race car experience,” explains Jeff Seaman, Mustang powertrain engineer. “It’s not for use on the street – for example, the deceleration is set up to preserve the brakes, and the throttle response is very aggressive. A skilled driver on a closed course will really appreciate the benefits.” Read more!