Unicorn: 2002 HRT 427

In the early-2000s the Australian car industry was riding the crest of a wave. Ford was bidding farewell to the AU error, sorry, era, with the launch of the BA Falcon and the revival of a dedicated performance division, Ford Performance Vehicles.

Over in the red corner the news was even rosier. Holden was regularly giving Toyota black eyes in the race for the number one sales spot, it was dominating V8 Supercars, and the popularity of the reborn Monaro was turning Britney Spears green with envy. 

Lightweight panels included a carbon fibre bonnet - Image Holden

Holden’s revival of its iconic two-door muscle car opened the door to US exports – the ill-fated Pontiac GTO program – and could’ve, would’ve, should’ve given birth to a world-beating road-going racer.

At the 2002 Sydney Motor Show Holden pulled the wraps off the HRT 427, a Monaro stuffed full of the hardest of hardcore bits: a 7.0-litre LS6 V8 producing north of 400kW, close-ratio T56 six-speed manual, magnesium diff housing with 4.11 gears, adjustable Ohlins suspension and monster AP racing brakes behind 18-inch OZ Racing wheels.

 A 7.0-litre LS6 V8 producing north of 400kW was matched to a close-ratio T56 six-speed manual - Image Holden

Lightweight panels included a carbon fibre bonnet and the super basic interior featured race seats, a half-roll cage and not much else, resulting in a 100kg weight reduction. Fifty were due to be built at a price of $215,000 each, almost four times that of a standard Monaro CV8 manual. It was a figure that would prove to be the 427’s undoing.

As development progressed the bean counters realised the exotic spec list of this Holden-to-end-all-Holdens meant they were going to lose serious money on each car produced at the price tag some of the marketing spruikers had put out there. 

The HRT 427 remains one of Australian motoring’s greatest “what ifs?”- Image Holden

The pin was unceremoniously pulled with just two cars produced, one kept by Holden and another released into the private market. The former lived in the foyer of Holden’s Fisherman’s Bend HQ for many years, while the latter has popped up regularly in the 20 years since. In 2008, during the pre-GFC muscle-car-boom, it garnered headlines when it sold for $920,000, making it the most expensive Australian car ever, until that point. 

The HRT 427 could’ve gone toe-to-toe with a Porsche 911 GT2 - Image Holden

In today’s climate, when anything limited-run has collectors and enthusiasts clamoring for their cheque books, Holden’s decision seems lily-livered. It raised eyebrows at the time, too, given the spec sheet suggested the HRT 427 could’ve gone toe-to-toe with a Porsche 911 GT2, which cost a whopping $399,000 at the time ($700K in 2024 money!).

Monster AP racing brakes sit behind 18-inch OZ Racing wheels - Image Holden

Holden didn’t help its case by letting a handful of journos loose in one of the prototypes, which only reinforced the view of “What the hell were you lot thinking by not building this thing?” Journo David Morley even drew parallels to the mythical Ford XA Falcon GT-HO Phase IV.

Aside from that one lucky private owner, the HRT 427 remains one of Australian motoring’s greatest “what ifs?”. Thankfully, Holden somewhat redeemed itself with the mighty 474kW/815Nm HSV GTSR W1, another Corvette-engined beast that proved a fitting farewell to the Australian muscle car.