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Fans of the original Lotus 7 will undoubtedly be familiar with Elfin. Others who, like Lotus itself, have come to realize that automotive development has advanced in the past few decades, may be less so. The Australian sportscar-maker is right up there with the likes of Caterham and Westfield, only from the land of reverse-flushing toilettes and leaf-eating marsupials. The company is under the care of Tom Walkinshaw, a legend in the motorsports and tuning communities who has leveraged his close ties with GM’s Holden subsidiary for the vehicle you see here, called the Type 5 Clubman. Replacing the discontinued Type 3, the new Type 5 joins the line-up alongside the MS8 Streamliner and was recently unveiled at the ongoing Sydney Motor Show.

The new roadster features the same 260-hp turbo four from the Pontiac Solstice GXP and Saturn Sky Redline, only in a much lighter frame of just 750kg (about 1,650 lbs). The combination of generous power and low weight means the Type 5 is pegged to hit 100 km/h (62mph) in a rapid 3.7 seconds while commanding a sticker price comparable Down Under to a Nissan 350Z or Mazda RX-8, only without frivolities like a roof or doors.

Gallery: Elfin Type 5 Clubman

It’s anniversary time in Oz for HSV, Holden’s high-performance division. That means stripes, stickers, commemorative badges and a pair of new unveilings at the Sydney Motor Show. In HSV’s case, at least, the extra pieces of flair go on fire-breathing, tire-shredding LS3-powered monsters, so the usual lameness attached to these sorts of things goes right out the window. The 40th anniversary of the GTS nameplate’s first appearance (on the ‘68 Monaro) means we get a special HSV GTS 40th Anniversary model. And since 20 years have passed since the original SV88 appeared, a special edition HSV Senator Signature dubbed SV08 has also been unveiled. HSV will build 100 of the Anniversary GTS models and just 50 SV08s. And yes, we’d happily take one of each, thank you.

FPV vs. HSV is basically Australian for “Ford vs. Chevy,” but on steroids. The two performance divisions have elevated the production of the muscle sedan to an art form, with audacious looks and big power ruling the day. It’s as if the original American muscle car era never ended, but got a passport and moved Down Under. Granted, we in the States don’t have much to complain about lately, with Aussie muscle now available in a Pontiac wrapper, as well as the 21st century editions of Camaro, Challenger and Mustang waiting to wreak havoc at stoplights.

Still, the sweetest fruit is that which is forbidden, so you might be interested in the Motoring Channel’s super acronym showdown: FPV GT-P vs. HSV GTS. The FPV is based on the new Ford FG Falcon, which arrived earlier this year, while the HSV’s Holden Zeta platform underpinnings are now a couple years old. Both have V8s, both look evil, and tires break into cold sweats at the mere thought of being mounted on either machine’s rear axle. With these two rides, the differences are such that picking a winner is akin to choosing between porterhouse and prime rib. It’s not as if you’re going to be disappointed either way, but deep down, you do have a preference.

Despite the fact that capping the cost of gas didn’t work out so well for Chrysler in the U.S., General Motors’ Australian arm, Holden, is launching a new incentive that guarantees gas will be 99¢/liter for two years after your vehicle’s original date of purchase. The system works much like the one Chrysler used: buyers get a debit card that they use when filling up their tanks. That debit card will be tied to the purchasers bank account, which will be debited a few days later for the reduced rate, regardless of how much the fuel had actually cost. If all of this sounds a bit confusing, click here for the details from Holden. We’ve also pasted GM’s official press release after the break.

As we mentioned, a similar promotion wasn’t too successful for Chrysler. There are a few differences, though. Chrysler’s vehicles aren’t quite class-competitive while Holden’s generally are. There were also more fuel efficient vehicles to choose from in the U.S., thereby making the gas card savings a bit irrelevant. In Australia where the V8 is still king, that’s not really the case. Will this new scheme make Holden’s V8-powered, rear-wheel-drive vehicles sell quicker? We don’t know… but we’re positive that a similar deal could go a long way towards putting an Pontiac G8 GT in our own personal garages.