The Australians are a bit backward when it comes to motoring. The cars that sell best down under are like American saloons of 20 years ago: big and unsophisticated. Holden (part of General Motors) and Ford Australia fight it out with models that started life in Europe or the US but have long since been dropped there.

The current Holden Commodore developed from the same source as the defunct Vauxhall Omega. Now, in a sense, it is coming back home.

Bob Lutz, vice-chairman in charge of GM product development worldwide, identified the Holden Monaro, the two-door coupé version of the Commodore, as a shortcut to reviving the famous Pontiac GTO for the US market. So the Monaro is now shipped from Australia to America and rebadged as a Pontiac.

Here, Kevin Wale, managing director of Vauxhall (GM’s British brand), watched with interest. Why not, he figured, pick the best bits of the GTO, put them into a right-hand-drive Holden body and bring the car to Britain, rebadged as the Vauxhall Monaro? (It might have helped that Wale is Australian.)

So, here it is: a big two-door, four-seat coupé with a massive but simple 5.7 litre V8 engine and a six-speed manual gearbox. With 329bhp and a price of £28,650 it is the most powerful car available for less than £30,000 and has no direct rivals here. It will do 160mph and 0-60mph in 6sec.

I drove it in Australia, where the speed restrictions and policing are so severe that it is a wonder anyone buys a performance car. Fortunately, a drive on the dramatic Great Ocean Road between Melbourne and Adelaide was preceded by a day at Holden’s Lang Lang proving ground, where the Monaro could be taken up to — and beyond — its limits in safety without the attention of Victoria’s highway patrols.

The only things that suffered that day were the Monaro’s Bridgestone tyres. With the traction control turned off, this car can spin its wheels and burn rubber on demand. It can be taken by the scruff of the neck and slid round corners like an old-fashioned racing saloon. A limited-slip differential helps this hooligan activity. But you are advised not to try it at home.

The track workout proved why these used to be called muscle cars. The Monaro is heavy and feels it; the steering, gearchange and pedals all need more effort than your average hatchback. Going with the flow on normal roads, it is a different car: quiet and relaxed. Loads of torque means that you don’t need to change gear much — just as well, as the gearbox is rather clumsy.

The engine is rattly on start-up but merely murmurs when cruising and amplifies to a nice V8 burble if you dare to accelerate. Although the suspension is stiff enough to keep the car stable at speed, it rides bumps without undue discomfort.

It may lack some of the refinements of the latest European models — for example, ESP electronic stability control is not available — but there is nothing crude about the way that the Monaro is presented. The fascia is well finished and there is plenty of leather. The sports seats are truly excellent for a long journey. Standard equipment is comprehensive: front and side airbags, eight-way electrical seat adjustment with three memory settings, electric sunroof, cruise control, rear park assist, 10-speaker stereo with a six-disc CD changer.

Rear-seat passengers might struggle to get in but four adults can travel in comfort in the Monaro. That’s not usually the case with a coupé, but then this isn’t your average coupé; it is as long, if not as wide, as a Bentley Continental GT.

Is Vauxhall, purveyor of the Astras and Vectras that are the mainstays of company fleets, ready for a car like the Monaro? Perhaps it is. The Lotus-built VX220 sports car looked out of place in Vauxhall showrooms at first but has sold well.

In any case, the ambitions for the Monaro are modest — 250 this year and a maximum of 500 a year. Two versions will be offered, the 329bhp model I drove and a more powerful 380bhp car. This will cost £35,595 and be badged VXR — the new name for performance Vauxhalls.

VITAL STATISTICS

Model: Vauxhall Monaro
Engine type: V8, 5667cc
Power/Torque: 329bhp @ 5600rpm / 343 lb ft @ 4000rpm
Transmission: Six-speed manual, rear-wheel drive
Fuel/CO2: 19.6mpg (combined) / 343g/km
Performance: 0-60mph: 6.0sec / top speed: 160mph
Price: £28,650
Verdict: Much grunt for not much money; surprisingly civilised

THE OPPOSITION

Model: MG ZT260, £28,495
For: Skilful reworking of the ZT with a Ford V8 and rear-wheel drive
Against: Four-door saloon doesn't stand out from the crowd, has fussy detailing

Model: BMW 330Ci SE, £28,545
For: The ultimate premium-brand four-seat coupé for the price
Against: 231bhp six-cylinder engine can't compare with Monaro's big V8