Available in a Coupe model which was released in July of 1971 and had a production run of 13,782 until 1974, and a non-Monaro four-door GTS model in 1973 and 1974, The HQ Monaro was a big step up from the previous model; the already ahead-of-it's-time HG. With an overarching slanted front and a blacked out grille, it was the first truly mean looking Australian sports car, beating out the Ford XA Falcon by a year or so. The rear of the car, with taillights embedded in the rounded bumper bar was sourced straight from the Pontiac GTO, a design that spanned the entire HQ range. At over 4.5 metres long and almost two metres wide, this fairly big two door was available as a standard coupe with a choice of a six or eight cylinder engine, an improved LS (Luxury and Sport) model, the Monaro GTS, and the Monaro GTS 350, with a 5.7 litre Chevrolet V8.

In 1973 the Monaro GTS received some styling modifications, to keep it on a level with the new GTS sedan, and the range had a full range of engine choices: (All engines had two valves per cylinder) The 173ci straight six Monaro standard, the 202ci straight six LS standard (optional in Monaro), the 253ci V8 GTS standard (optional in the Monaro and LS models), the 308ci option for all models, and the 350ci V8 - available only for the LS or the GTS. The GTS versions came equipped with a choice of an Australian made Munchie four speed manual gearbox or the Turbo-Hydramatic 400 automatic transmission. At the time of production, the Monaro went for (Aust) $3120 for the standard Monaro with a 2850cc straight six & 3speed manual, the LS with a 3300cc 3 speed six for $3570, the 4 speed 4.2 litre V8 GTS for $3720, and the GTS 350 for $4630. Now, a 308ci GTS with air conditioning, power steering and 45,000kms on the clock will go for about eighteen grand or so.

An HQ Monaro LS was featured at the start of the film Mad Max, where it was driven by the Nightrider.

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