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Holden
Monaro
V2 / VZ·
2001-2006
coupe
Value
Price (AUD)
$22k-$90k+
Body styles
2-door coupe
Drivetrain
Rear-wheel drive
Origin
Australia
Built in
Australia
Overview
The reborn Monaro was a two-door coupe spun off the VX/VY Commodore floorpan, designed in-house at Holden and launched in December 2001 to huge acclaim - it was famously exported as the Pontiac GTO (US) and Vauxhall Monaro (UK). The range that matters in Australia is the CV8 with GM's 5.7-litre Gen III LS1 V8, which grew in power across three V2 series (225kW Series I, 235kW Series II, 245kW Series III) before the VZ facelift in September 2004 swapped to the 6.0-litre LS2 making 260kW/500Nm. A supercharged 3.8 L67 V6 CV6 was offered briefly but sold in tiny numbers (around 160 cars) and was dropped in 2004. Limited editions (CV8-R, and the final CV8-Z run of 1605 cars in 2005-06) are now collectible and command strong money. Mechanically these are tough, simple, rear-drive V8 GTs - the classic caveats are early LS1 piston slap and oil consumption, valve lifter wear, LSD/diff whine, and warped front rotors. Genuine GTS/GTO badged cars were HSV-built and sit outside this Holden-badged file.
Engines & variants
5.7L LS1 V8 (CV8, V2 Series)
Engine
5.7L Gen III pushrod OHV V8, aluminium block
Config
V8 NA
Displacement
5665cc
Power
225kW (Series I) / 235kW (Series II) / 245kW (Series III) @ ~5200-6000rpm
Torque
460-465Nm @ ~4400rpm
Drivetrain
Rear-wheel drive
Economy
13-15 L/100km combined (real world; premium ULP)
Transmission
6MT (T56), 4AT (4L60E)
Timing chain / belt / gear
Chain-driven (single timing chain, OHV pushrod)
Pros
- Strong, simple, proven Gen III LS1 V8 with huge aftermarket support
- Tunable and reliable when looked after
- Series II/III progressively more powerful and better calibrated
- Six-speed T56 manual is a genuine driver's gearbox
- Iconic styling, strong and rising collector resale
Cons
- Early (2001-02) LS1s are prone to piston slap and oil consumption
- Valve lifter tick can develop with km
- 4-speed auto feels dated and blunts the engine
- Premium fuel required; thirsty in town
Known problems
medium
Piston slap / cold-start rattle (early LS1)
Early Gen III LS1s used a pressed gudgeon pin that let the piston rock in the bore until it warmed, giving a distinctive cold-start rattle. Holden later Teflon-coated pistons and moved to a floating pin which largely cured it on later builds. A persistent rattle that does not clear with warmth, combined with oil use, points to worn pistons.
Fix: Minor noise is often lived with; severe cases need new pistons/short motor. Inspect/listen on cold start pre-purchase and check service history for any rebuild.
high
Oil consumption / low-oil bearing damage
The relatively small sump combined with normal-to-high oil consumption on long service intervals can drop oil pressure, leading to spun bearings or starved lifters if the owner does not top up. Many high-km cars use oil between services.
Fix: Check oil level frequently, shorten service intervals, use correct grade. Verify compression and listen for bottom-end knock before buying.
medium
Valve lifter tick / sticking lifter
Hydraulic lifters can stick or wear, giving a light tapping at idle, especially when cold. Left unchecked a collapsed lifter can damage a cam lobe.
Fix: Lifter (and where needed camshaft) replacement; fresh oil and correct grade help.
6.0L LS2 V8 (CV8 / CV8-Z, VZ Series)
Engine
6.0L Gen IV pushrod OHV V8, aluminium block
Config
V8 NA
Displacement
5967cc
Power
260kW @ 5600rpm
Torque
500Nm @ 4000rpm
Drivetrain
Rear-wheel drive
Economy
13.7 L/100km (auto) / 15.3 L/100km (manual) official; ~14 L/100km real world
Transmission
6MT (T56), 4AT (4L65E)
Timing chain / belt / gear
Chain-driven (single timing chain, OHV pushrod)
Pros
- Bigger, stronger LS2 with 260kW/500Nm and broader torque
- Largely resolved the early LS1 piston-slap concerns
- Best-driving and best-equipped Monaro of the run
- CV8-Z final edition is a sought-after collectible
- Excellent V8 GT for the money, strong resale
Cons
- Still oil-hungry if abused or under-serviced
- Premium fuel and real V8 thirst
- 4-speed auto still lags the engine's ability
- Diff/LSD whine and warped rotors carry over from V2
Known problems
medium
Oil consumption (LS-family trait)
Like all Gen III/IV LS engines the LS2 can use oil, especially when driven hard. Combined with a modest sump this means owners must check oil between services to avoid lifter/bearing wear.
Fix: Regular oil checks and timely top-ups; shorten intervals for hard-driven cars.
medium
Valve lifter / camshaft wear at high km
High-km LS2s can develop lifter tick or, less commonly, a wiped cam lobe. Listen for tapping at cold idle.
Fix: Lifter and cam inspection/replacement by an LS specialist.
3.8L L67 Supercharged V6 (CV6)
Engine
3.8L Ecotec OHV V6 with Eaton M90 supercharger, cast-iron block/heads
Config
V6 supercharged
Displacement
3791cc
Power
171kW @ ~5200rpm
Torque
375Nm @ ~3200rpm
Drivetrain
Rear-wheel drive
Economy
11-13 L/100km combined (real world)
Transmission
4AT (4L60E)
Timing chain / belt / gear
Chain-driven (single timing chain, OHV pushrod)
Pros
- Cheaper to run and lighter over the nose than the V8
- Eaton-blown L67 is a well-understood Holden engine
- Auto-only, easy daily driver
- Rare - only around 160 built, a curiosity for collectors
Cons
- Auto only - no manual option offered
- Lacks the V8's character and the resale that buyers want
- Very rare, so parts/trim and resale are quirky
- Supercharger coupler and intake gaskets are known L67 wear items
Known problems
medium
Supercharger snout/coupler wear and boost loss
The Eaton M90 supercharger's nose-drive coupler and bearings wear with age, causing rattle and lost boost; the blower can need a snout rebuild or reseal.
Fix: Supercharger snout/coupler rebuild and oil change by a specialist.
medium
Intake / plenum and head gasket leaks (L67)
The 3.8 Series II L67 family is known for upper/lower intake manifold gasket and plenum sealing issues, and ageing head gaskets, leading to coolant loss or oil weeps.
Fix: Replace intake/plenum gaskets with updated parts; pressure-test cooling system; address head gasket if leaking.
Common problems (all variants)
medium
LSD / rear differential whine
The rear diff and limited-slip centre can develop a whine, sometimes as early as 40,000km, and a hard-driven car may have a worn-out LSD. Listen for whine on overrun and drive.
Fix: Diff/LSD rebuild or replacement; check diff oil history and listen carefully pre-purchase.
low
Warped front brake rotors
Front discs commonly warp under hard or repeated braking in a heavy V8 coupe, giving a steering-wheel shudder under brakes.
Fix: Machine or replace rotors (and pads); upgraded rotors are a cheap, common fix.
medium
Clutch wear (T56 manual)
The six-speed T56 clutch wears with hard launches and burnouts - a real risk on a performance coupe that many owners drove enthusiastically.
Fix: Clutch and where needed flywheel replacement; check clutch take-up and for slip on test drive.
high
Hard-driven / modified examples
Monaros were bought to be driven hard; many have been modified, tuned, supercharged or abused with burnouts and launches, which can mask or accelerate engine, diff and clutch wear.
Fix: Favour stock, well-documented cars; get a pre-purchase inspection and verify any tune/modifications were done properly.
low
Interior trim and electrics aging
Shared Commodore-era interior bits - door trims, seat bolster wear, sticky soft-touch coatings, dash rattles and minor electrical gremlins - show their age now.
Fix: Trim repair/replacement and standard ageing-electrics troubleshooting.