Holden today officially revealed the W427, previously revealed as a “concept” at the Melbourne Auto Show. The car began production at the company’s Clayton based facility this week and sales of Australia’s fastest street legal production car have begun. Production of the W427 is limited to only 427 units, and the entire 80 units for 2008 have been pre-sold and will fetch a price of $155,500.

The HSV W427 is powered by a 7.0 liter LS7 V8 engine with specific HSV calibration that delivers 502 hp. The engine is …

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