The idea of a $362,888 car being a bargain is a bit strange… especially one wearing an HSV badge.

    But this delivery mileage HSV GTSR W1 is just that.

    Sold new for $169,990 before on-road costs, the W1 is significantly cheaper than the XU3 Yellah example sold for $750,000 before buyer’s premium in 2021 – and the $1,050,000 one buyer paid for a super-rare Maloo GTSR W1 ute.

    It’s also less than some owners are asking for their similarly pampered examples. Unlike most SS and HSV Clubsport owners, it appears most W1 buyers tucked their cars away in a safe place with the hopes of selling it for a profit.

    A quick scan of the classifieds reveals a range of W1s listed for between $300,000 and $520,000. The price history of one of those cars shows its price dropped by $46,000 since being listed, while another had its cut by a whopping $103,000.

    The cooling market for the W1 follows a broader industry trend for cheaper used cars, as supply of new cars improves.

    Moody’s Analytics is predicting prices will drop by around 10 per cent in 2024 before prices stabilise in 2025.

    Holden managed to convince General Motors (GM) to restart production of the LS9 V8 engine to accommodate the W1 build program. It managed to get GM to produce 300 LS9 engines to cover the production run, plus a handful of spares to accommodate damaged or crashed vehicles.

    The LS9 was last used in the C6 Corvette ZR1 and is a 6.2-litre supercharged V8 producing 474kW of power and 815Nm of torque. It’s mated exclusively to a six-speed manual Tremec TR6060 close-ratio gearbox.

    Scott Collie

    Scott Collie is an automotive journalist based in Melbourne, Australia. Scott studied journalism at RMIT University and, after a lifelong obsession with everything automotive, started covering the car industry shortly afterwards. He has a passion for travel, and is an avid Melbourne Demons supporter.

    Buy and Lease
    Uncover exclusive deals and discounts with a VIP referral to Australia's best dealers
    Uncover exclusive deals and discounts with a VIP referral to Australia's best dealers
    Also on CarExpert