Ford GT shown in silver, will be pricier and produced in smaller numbers than previous model – reports

The updated model replaces the Detroit car's blue paint work with a new scheme that consists of a "liquid silver" base overlaid with titanium-coloured stripes.

Multiple sources, including TV network CTV and Toronto's The Star newspaper, are reporting that Ford GT production will be contracted out to Canadian company Multimatic.

According to the Toronto-based newspaper, Joe Hinrichs, Ford's president of the Americas, made the announcement at the Canadian motor show that's currently being held in Toronto.

The Ford GT will be built in small quantities by Multimatic, which is an automotive parts and engineering firm based in the suburbs of Toronto. Hinrichs said that Multimatic was chosen because of its expertise in carbonfibre, which the GT will employ extensively in order to keep weight down while maintaining high levels of structural rigidity.

Hinrichs told the assembled members of the press it was likely the new Ford GT would be produced in smaller numbers and sold at a higher price than the previous model. He said pricing and details about the production run would be announced at a later date.

The last-generation Ford GT, which began production in 2005, was priced between US$140,000 and US$150,000 ($180,000 to $192,000); just over 4000 units were made during its lifetime.