The Most Expensive Holden Road Car Ever Sold Is A Pickup That Almost Became A Pontiac

In a landmark moment for Australian car culture, a rare HSV GTSR W1 Maloo has become the most expensive road-legal Holden ever sold, reaching a staggering AU$1.2 million (equal to US$805,000 at current exchange rates) at auction.

Built by GM’s now-defunct Holden Special Vehicles division, only four examples of this high-powered ute were ever built. That limited run alone makes it special, but its significance runs deeper, since it stands as one of the final Holdens assembled before General Motors shut down its Australian operations for good back in early 2021.

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The ultra-rare ute (Aussie term of pickups) was listed for sale through Lloyds Auction just before Christmas but was initially passed in when bidding peaked at AU$1.1 million (US$738,000). After the auction closed, though, the auction house entered private negotiations and struck a deal.

What Makes It Special

In the world of Holdens, few are as special as this. As the end of production for the Commodore neared, HSV built 295 examples of the wild GTSR W1 sedan, fitted with GM’s legendary LS9 6.2-liter supercharged V8 engine from the C6 Corvette ZR1. It then built four ute variants, known as the Maloo, offered exclusively to the brand’s most loyal customers and its directors.

This particular example is the only one painted in Holden’s unmistakable Yellah yellow. Even more remarkable, it has been driven just 26 kilometers (16 miles) since leaving the factory.

The Buyer, The Bids, The Backstory

Lloyds Auction

The identity of the final buyer hasn’t been confirmed. However, Australian billionaire Adrian Portelli posted on Instagram that he was the high bidder at AU$1.1 million before the auction ended.

He wasn’t shy about voicing his opinion afterward, claiming the pickup model was only actually worth AU$800,000 ($536,000) on a good day. He already owns two of the four GTSR W1 Maloos built, paying $1.05 million ($705,000) for the first in 2021.

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This very same yellow car first went to auction in August 2021, during the height of the Covid-19 pandemic, when prices for rare and collectible cars were surging. At the time, bidding topped out at AU$1.15 million (US$771,000)

“Whispers of doubt turned into roaring reality,” said Lloyds Auctions COO Lee Hames following the sale. “This $1.2 million result not only obliterates expectations but proves Lloyds’ unrivalled expertise in delivering record-breaking sales for Australia’s rarest automotive treasures.”

It Almost Launched As A Pontiac

One interesting footnote in the story of the HSV GTSR W1 Maloo is that its base car, the Holden Ute, almost made it to American roads as the Pontiac G8 Sport Truck. GM went so far as to reveal a production-ready version at the 2008 New York International Auto Show.

It was entirely feasible, as it was built on the same platform as the Pontiac G8 sedan already sold in North America, itself a rebadged Holden Commodore. GM planned to launch it as a 2010 model, which would have made it the first coupe-utility vehicle offered in the American market since the Chevrolet El Camino bowed out in 1987.

But it wasn’t to be. Caught in the chaos of the 2008 financial crisis and years of declining brand sales, Pontiac was shuttered before the Sport Truck could enter production. GM walked away, taking the G8 lineup down with it.

Which Aussie Car Still Holds the Top Spot?

Despite its headline-making price, the AU$1.2 million Maloo doesn’t hold the crown for the most expensive Australian-made road car ever sold. That title is still believed to belong to a 1972 Ford XA Falcon GTHO Phase IV, which reportedly changed hands in a private sale for AU$1.75 million in 2021.

Among publicly auctioned cars, the crown also goes to another Ford Falcon. A yellow Phase IV GTHO reached AU$1.3 million at auction in August 2021, widely regarded as the top figure for an Australian road-legal vehicle sold through public bidding.

And if you want to get technical, this isn’t even the priciest Holden in any category. That title belongs to a Bathurst-winning VH Commodore race car, which clinched victories in both 1982 and 1983. As reported by Australia’s Drive, it sold for AU$2.1 million in 2018.

John Halas contributed to this story.