HSV's high performance version of the first Commodore ute series generates some of the rarest, fastest and most desirable HSV models of all.
Production tallies of each Maloo series struggled to reach 200 and coupled with a high attrition rate, are set to hold their value. Mechanicals and cabin upgrades based on the equivalent ClubSport ensure performance and comfort with lighter weight. Because HSV was careful to optimize unladen handling and specify suitable rubber, carrying capacity and clearance were both reduced so it became less of a load lugger, more of a two door sports coupe with a very long boot.
Prices: Scarcity of the first VG and VP series generates a starting price of $10,000 for a worn, original example rising to $15,000 for the best. Later models from VR onwards with the new front end and 185kW engine start in the high teens. A rare and very desirable VSIII can fetch at least $25,000.
Checkpoints
Early VG and VP series had 180kW engine from SV89 but with later SV5000 cold air intake. August 1993 VR series introduced 185kW upgrade with further tweaks which continued in VS/VSII from April 1995 to May 1999.
This early ute style was never fitted with the LS1 engine that went into other HSV models from mid-1999. Instead, the rare VS Series III was given a wiring upgrade to support the VT Club Sport's heavily revised 195kW V8 two years after VT introduction until the next generation VU arrived in 2001. This makes it the last HSV model ever fitted with the Holden V8.
All utes from this body series had the same live rear axle suspension as early sedans. Provided its voided bushes and shock absorbers are kept fresh, this delivered more predictable handling and more even tyre wear than later IRS models. Make sure body hasn't been stretched or damaged from overloading or heavy towing.
Holden V8 is long-lived and bulletproof providing it isn't damaged by missed oil and filter changes. Sludging, lifter and cam damage and excessive oil consumption are too often the result. Bore distortion was a problem on some engines so a compression test is wise.
Upgraded engines are common and not necessarily a problem providing the parts and the workmanship are first rate. The wrong combination of cam grind, chip and injector sizes can turn the Holden V8 into a real gas guzzler so don't touch anything that can't be easily reversed.
Oil leaks around the rear main are always a problem. A minor weep is acceptable, a leak isn't. These engines run hot in traffic as engine fan and radiator are on the limit which hardens other seals and generates oil leaks. Common fix is to fit thermo fans from later model Falcon.
Standard front brakes are marginal but easily upgraded to SV5000 specs if originality is important. Auto transmission usually needs attention from 150,000km on. Five speed manuals can get noisy and baulky with wear and poor driving.
Make sure that it is a genuine Maloo with all correct HSV ID that stacks up against HSV records. Correct wheels, decals, seats, steering wheel, trim and genuine HSV body parts are essential as they are not cheap to replace.