A rare 1972 Ford XA Falcon GTHO Phase IV prototype has sold for what could be the most amount of money ever paid for an Australian-built road car.

Specialist dealer Australian Muscle Car Sales announced the Ford works team-prepared XA Falcon GTHO Phase IV changed hands for “just under $2 million,” according to a post on the company’s Facebook page.“We believe this to be the highest single price ever paid for an Australian made road car and both buyer and seller are thrilled with the result,” company director Chris Tzortzis said in a media statement.

“The Phase IV GTHO is a legend in Australian muscle car folklore, and with only a handful of prototypes and one production car ever made, it is truly a rare and iconic motor car.”Fitted with a 5.8-litre V8 and four-speed manual, the unrestored Falcon GTHO is one of only four Phase IV models to have been built, and has just 4698 miles on the odometer from new.

While the final sale figure is as yet unconfirmed, at just under $2 million the Phase IV is the most expensive Australian road car ever sold – eclipsing the $1.15 million paid for an XY Falcon GTHO Phase III at auction in February 2021.Despite the impressive number, it’s not typical for a private sale to be considered record-breaking for a classic car in the same way as it is at a public auction.In 2018, a bid of $2 million was obtained for this exact Phase IV at auction, but it’s understood the buyer was unable to fulfil their obligations at the time and the car remained unsold.

The Ford XA Falcon GTHO Phase IV is highly prized by Australian car collectors due to there being only three race cars and one road car ever built, before the Phase IV program was axed following the ‘supercar scare’ of 1972.At the time, the front page of Sydney newspaper The Sun-Herald announced new cars were soon to be offered by carmakers with top speeds of 160mph (257km/h), and with prices accessible to young people.Following public outrage at the news, Ford cancelled the Phase IV program, and this particular race car was sent to a dealership in Sydney’s south, where it was eventually offered for sale as a registered road car – complete with roll cage.

“We have known of this car for many years,” Mr Tzortzis said. “And with only 4698 miles from new, have always understood its unmatched provenance and significance as one of the best and most desirable Australian muscle cars in existence.”