While the Australian and American muscle car scenes of the 1960s and early 1970s shared many characteristics, the cars produced Down Under were generally motivated by a different need. Companies like Holden, Ford, and Chrysler (Valiant) sought a double-edged approach in a relatively small new car market. Halo models were part of the need, but success in the annual endurance race held at Mount Panorama, Bathurst, fed the “win on Sunday, sell on Monday” approach. For those reasons, many Aussie muscle cars were based on four-door family sedans. The sales volume was not available to justify an Australian two-door variant like the Chevelle or Torino. That changed when Holden stepped up to the plate with its new HK Monaro in 1968. The stunning Two-Door Hardtop included the first V8 to power a high-performance model from that brand in the GTS 327 variant. The escalating horsepower race prompted by Ford and its iconic Falcon GTHO series motivated Holden to up the ante with the HT Monaro GTS 350 in 1969. Our feature car is a 1970 GTS 350 that has returned to the market six years after last crossing the auction blocks. It is 1-of-275 examples produced with its mechanical configuration and is listed for online auction here at Lloyds Auctioneers and Valuers. An indication of this classic’s desirability is that in a brief two-hour period, bidding has raced from A$168,500 (US$112,760) to A$205,500 (US$137,500), with time remaining for that figure to climb significantly.

Holden introduced its new volume-selling HK Kingswood range in January 1968. Initially available in sedan and station wagon forms, a panel van and utility joined the party in March. However, the company blew everyone out of the water with the Monaro Two-Door Hardtop in July of that year. It looked fast standing still and underwent two model updates before being replaced by the new HQ series in 1971. This 1970 Monaro is from the HT series, which was the first model update. This model brought only minor exterior cosmetic changes, including a new taillight treatment and a plastic grille. This GTS received a two-year full nut-and-bolt restoration and presents beautifully in Kashmir White with contrasting Black stripes. The car is as it left the factory, retaining its correct badges and the iconic styled wheel covers cloaking its original steel wheels. The paint shines as impressively as you would expect from a car of this caliber, with the panels laser straight. The trim is spotless, and the glass is flawless. It has spent the past six years in dry storage, helping it to remain rust-free. If there were still such a thing as a Holden showroom, this classic wouldn’t look out of place displayed on its floor.

The secret to the Monaro’s success probably rested in its mechanical versatility. Like some US models, buyers could opt into the lifestyle without spending a fortune. The company offered it with the entry-level six-cylinder powerplant, which many buyers selected. From there, the sky was the limit. For the HK model, the range-topping option was the GTS 327, although, for the HT, that became the GTS 350. The motivation for the change was driven by rival company Ford’s decision to introduce larger V8s to its evolving Falcon GT and GTHO range. While considered a Halo model, these cars existed for a specific purpose. Australians have always been automotively parochial, with honors split almost evenly between Holden and Ford devotees. Chrysler enjoyed a smaller slice of the action with its Valiant range, and all three engaged in a war based upon an annual endurance race at Mount Panorama, Bathurst. Success in the race invariably drew people into the winning brand’s showroom in the following weeks, justifying the expense of producing these models. Ford brought the first high-performance V8 to the table with its XR Falcon V8 and its 289ci powerplant. The subsequent model lifted the game with a 302 before the 351 found its way under the hood of the XW model. Holden went toe-to-toe with Ford, with the first Monaro GTS powered by Chevrolet’s 327ci V8, before the iconic 350ci small-block appeared in the HT model. That is what we find powering this GTS, with the car also featuring a two-speed Powerglide transmission, power steering, and power front disc brakes. Those ordering the auto-equipped version received a significantly “softer” vehicle because while those with a four-speed had 300hp under their right foot, the Powerglide brought 250hp to the table. Those changes impacted outright performance, although, with the ability to cover the ¼-mile in 15.8 seconds on the way to 123mph, the GTS 350 auto was an effective long-distance cruiser. The rarity of this Monaro is sealed by its engine and transmission combination, with Holden only producing 275 examples of the auto-equipped GTS 350. It is a numbers-matching classic in sound mechanical health and is ready to hit the road with the winning bidder behind the wheel.

One of the practical changes that came with the model change from the HK to the HT Monaro was to the interior. The HK GTS 327 featured a “strip” speedometer with the tachometer mounted on the console. This was an impractical solution, as the steering wheel spokes often obscured the driver’s view of the tach. The new model brought a revised sports gauge cluster as standard equipment, placing everything directly in the driver’s line of sight. This interior presents superbly trimmed in Morrocco Red vinyl. There is no evidence of wear or damage and no aftermarket additions. Buyers could order these classics with air conditioning and other creature comforts. However, the original owner chose to add only a two-speaker AM radio to the GTS standard fare of bucket seats, a three-spoke sports wheel, and a console.

When the person responsible hit the “off button” on Holden’s production line on October 20th, 2017, it marked the end of an era. The first Holden rolled off the line in 1948, and many sought solace in the fact the brand survived as an importer. The end of local production immediately pushed the values of the company’s performance models higher, but this proved to be the tip of the iceberg. General Motors announced in February 2020 that the Holden brand was to join such hallowed badges as Pontiac in the automotive wilderness. The shutters fell permanently at midnight on December 31st of that year. The thought of Australia without Holden had seemed unimaginable, but it had happened. This further escalated classic values, and this 1970 HT Monaro GTS 350 will reflect that. When the hammer fell last time, its owner paid a record A$310,000 (US$207,500) for this survivor. There is speculation that when this auction concludes, the figure will be more than twice that achieved in 2017. Considering people’s deep affection for a car they consider “Australia’s Own,” I won’t be surprised if that proves correct.