When Holden unveiled the Monaro in July 1968, it was more than just a stylish new coupe — it was a statement of intent.
The first batch of the HK Monaro GTS 327, known unofficially as the Type 1 “Bathurst Monaro,” became an instant icon, thanks largely to its dominant win at the 1968 Hardie-Ferodo 500. In doing so, Holden not only launched a new model but also ignited the brand’s factory-backed motorsport era.
ORIGINS AND PURPOSE: BORN TO RACE
The HK Monaro range was Holden’s first serious foray into the performance car market, and the flagship GTS 327 was developed specifically to win at Mount Panorama. With the recent formation of the Holden Dealer Team under the direction of Harry Firth, the Monaro GTS 327 was homologated for the 1968 Bathurst 500, where its combination of American V8 muscle and Australian engineering would prove unbeatable.
While the broader HK Monaro lineup included 161ci, 186ci and 307ci V8 variants, the top-tier GTS 327 was equipped with Chevrolet’s potent 327-cubic-inch (5.4-litre) small-block V8 sourced from Tonawanda, New York for the Type 1 version — a powerplant already proven in Chevrolet’s own performance lineup.
ENGINE AND PERFORMANCE
Under the bonnet of the GTS 327 sat the Chevrolet 327ci V8 — with the Type 1 versions output rated at 250 horsepower (186kW) and 440Nm (325 lb-ft) of torque, although period reports suggested actual power figures were closer to 275hp.
Key mechanical highlights include:
- Engine: Chevrolet 327ci (5.4L) V8
- Transmission: Saginaw close-ratio 4-speed manual gearbox
- Differential: GM 10-bolt Posi traction limited-slip rear end
- Brakes: Power-assisted front disc and rear drum
- Suspension: Heavy-duty tuned for racing
- Exhaust: Dual system with factory style headers
The drivetrain combination allowed the Bathurst Monaro to reach top speeds in excess of 200 km/h, with 0–100 km/h times in the low 7-second range — highly impressive for a full-sized Australian coupe in the 1960s.
EXTERIOR AND VISUAL CUES
The HK Monaro GTS 327 was instantly recognisable thanks to its distinctive styling cues:
- Body Style: Two-door hardtop coupe
- Paint Colours: Factory finishes included Bright Blue Metallic, Warwick Yellow, Silver Mink, Verdoro Green, Inca Gold, and others — always contrasted by black rally stripes on the bonnet and boot
- Wheels: 14-inch steel rims with unique Monaro GTS wheel trims
- Badging: “GTS 327” badging on the front guards
INTERIOR DETAILS
The GTS 327 interior mirrored Holden’s luxury sport ethos with purposeful GT cues:
- Trim Code: Often 10X (black vinyl), though other colours existed
- Instruments: Full sports dash with tacho, oil, amp and temp gauges
- Steering Wheel: Deep-dish sports wheel with GTS centre cap
- Seats: Bucket seats with embossed vinyl trims and colour-coded seatbelts
The cabin was a comfortable yet performance-oriented space — especially when compared to the sparse cockpits of rival GT cars.
PRODUCTION AND NUMBERS
Production of the HK GTS 327 began mid-1968, with the first cars completed around June–July. Built at Holden’s Dandenong (VIC), Pagewood (NSW), and Acacia Ridge (QLD) plants, most Bathurst-eligible cars were completed between June and September 1968.
Approximately 1183 HK GTS 327 were built in total. However, only around 250–260 were true “Bathurst-spec” cars built in time for the 1968 Hardie-Ferodo 500, featuring the heavy-duty suspension, 3.36:1 LSD rear ends, and race preparation by Harry Firth’s HDT.
Due to the lack of surviving factory records and the limited build window, genuine Bathurst prepared cars are difficult to confirm without period documentation, known racing history, or photographic proof.
BATHURST 1968: THE MONARO VICTORY
The HK GTS 327’s legendary status was cemented at Bathurst on September 29, 1968, when Bruce McPhee and Barry Mulholland won the race outright — in a near-standard GTS 327 prepared by McPhee himself. His win was all the more remarkable because:
- McPhee drove all but one lap of the race
- His car was used purposely scrubbed down tread – Michelin XS tyres
- The GTS 327 outlasted and outran its Ford Falcon GT rivals on both speed and durability
Holden also entered an official Holden Dealer Team trio under Harry Firth. This showcased the raw potential of the GTS 327 — and kickstarted Holden’s long-standing dominance at Mount Panorama.
LEGACY AND COLLECTABILITY
Today, the 1968 Holden HK Monaro GTS 327 holds a revered place in Australian muscle car history. It was the first Holden to win Bathurst, the first V8 Monaro, and the first production car to set the tone for Holden’s racing future.
Values for genuine GTS 327 Type 1 or 2 and Bathurst-spec cars have soared in recent years, especially those with documented ownership or racing history.
With its Bathurst triumph and iconic styling, the Monaro GTS 327 remains one of the most significant and collectible performance cars ever produced in Australia.
Chicane Auctions are proud to present this beautiful 1968 HOLDEN MONARO HK GTS 327, available in our MAY AUCTION – OPEN NOW and CLOSING THURSDAY 15th MAY from 8:30pm!