Expectations can be tricky things, sometimes shaping our experiences more profoundly after they’ve occurred. Consider, for example, the Volvo 242 GT. Upon first encountering this vehicle and hearing its owner, Finn Shoolheifer, passionately describe its unique status and upgrades compared to standard models, anticipation ran high. Months later, with an airfield at my disposal, I settled into the driver’s seat, ready for a thrilling experience.
However, instead of a surge of adrenaline, a wave of nostalgia washed over me, bringing back memories of the 1978 Volvo 240 DL estate that served as our family car during my teenage years in the mid-80s. As I drove Finn’s 242 GT back and forth, pushing the speed higher each time for both the photographer and myself, my thoughts remained firmly rooted in childhood. I recalled picking at the spongy headrest mouldings and enjoying the distinctive aroma of warm oil, durable plastic dashboard fittings, and deep-pile carpets, all while my father played the latest ELO album on the car’s sound system.
Initially, I felt the car needed a more aggressive exhaust note to pull me out of the past and truly appreciate its unique qualities. But I soon realised that this was the wrong approach entirely.
The 242 GT represented Volvo’s attempt to create a more sporty vehicle. While models like the Amazon 122S, the 142GT, and the P1800 had hinted at performance, the 242 GT was explicitly marketed towards an audience seeking something more exciting.
The Volvo 240 series, launched in 1974, initially comprised six models, including the 242, 244, and 245, offered in Luxe, De Luxe, and Grand Luxe trims. However, it wasn’t until 1977 that the GT designation was introduced, aiming to attract buyers interested in acceleration figures rather than just cargo space or safety ratings.
The first 242 GT models were produced in Gothenburg’s Torslanda plant, powered by a 2.1-litre B21 engine, and delivered to customers in 1978.
Later, the B21 engine was replaced by the B23E unit with Bosch K-Jetronic fuel injection. This upgrade resulted in a 2.3-litre, four-cylinder engine producing a respectable 140bhp, arguably bringing the car closer to the advertised performance.
With the Saab 900 Turbo as its main competitor, Volvo incorporated images of high-powered jets in the 242 GT’s promotional materials, boldly stating, “If it had wings it’d fly.” This slogan, even with the recent power upgrades, helped position the model towards a more performance-oriented customer base.
The two-door saloon was offered in limited markets. Of the approximately 5,000 vehicles sold during its three-year production run, 670 were distributed within Sweden, with the remainder sold in the USA, Canada, and Europe. Interestingly, the GT was never officially sold in the UK, but over 600 were exported to Australia. This particular example was originally destined for Australia and was imported to Britain from Queensland in 2021.
Finn acquired his rare 1979 242 GT in 2023. Despite not being a decades-long ownership story, it’s worth noting that Finn is only 19 years old.
He previously bought a 1990 240 estate, modified it with motorcycle throttle bodies and suspension enhancements, achieving a 0-60mph time of under 8 seconds. Finn’s familiarity with Volvos, combined with his research, led him to the elusive 242 GT, of which only about 800 are still accounted for.
While searching for quad-headlights for his 240, he discovered a 242 GT, one of only a few in the UK and remarkably rust-free. The only catch? It wasn’t for sale.
Persistence paid off. Finn stayed in contact with the owner, who eventually agreed to sell. Finn quickly travelled across the country, made the deal, and drove the car 200 miles back to his home in Essex, stopping to collect a Group A-spec cylinder head and rare R-Sport ‘Jet Cockpit’ VDO gauges.
By the time we were on the airfield, Finn demonstrated the enthusiasm of a true niche-model aficionado, providing a detailed explanation of what makes his 242 GT special.
“There were three different styles of tail-light from 1979 to ’81,” he explained. “This one has the mid-spec ‘stacked’ style, only produced for three months, along with the round headlights, the only 7¼in units fitted by Volvo.”
The orange and black twin stripes running along the bonnet, flank, and bootlid, complement Volvo’s efforts to give the car a sporty look. The saloon body, with a front airdam, silver grille, and inset driving lights, sits on 15in Virgo cast-alloy wheels.
Finn adds, “The GT has a black headlining, which is unusual. Combined with the lack of highlighting trim, factory-tinted Sunex windows, and black, thick-cord seats, the interior feels sporty and purposeful. Only the orange piping and central seat stripe add a touch of levity.”
The 2.3-litre cast-iron block is paired with a high-compression, eight-valve, crossflow aluminium cylinder head. The 242 GT was one of the first Volvo models with fuel injection, and the Bosch K-Jetronic system contributes to its performance.
While the power-assisted rack-and-pinion steering offers a light touch, the sensibly sized steering wheel, stiffer springs and dampers, and thicker front anti-roll bar help prevent the GT from feeling too light.
The engine isn’t particularly tuneful, but it’s willing to be pushed.
Initially, it’s easy to treat the 242 like any other Volvo. This is where things can go wrong, as it’s capable of behaving like a standard 240, embodying the mild-mannered sensibility valued by some drivers.
Even the empty runway isn’t the ideal test environment, as straight-line speed isn’t the 242 GT’s forte, despite a reported 0-60mph time of under 10 seconds with the 2.3-litre engine, a significant improvement over the 16 seconds of a standard 242 DL.
What, then, makes the 242 GT special? And when does it reveal its true character?
The answer is simple: find a great road and a reason to drive it.
Using the accelerator eventually pays off. Below 3000rpm, the performance is unremarkable, but building confidence yields results as the solid pulling power transforms into something deserving of the “performance” label.
The bolstered driver’s seat hugs your thighs as the Volvo encourages you to take corners faster. While it may not slingshot you out of corners like an Italian sports car, it’s thrilling if you fully utilize the rev range and the four-speed gearbox, with an overdrive switch offering extra ratios.
When the GT hits its stride, the suspension minimizes body roll while providing a comfortable ride, creating a harmonious experience.
Suddenly, the experience rivals that of more accomplished sports cars, but it requires skillful driving to extract its full potential. A Porsche 912 comes to mind: excellent underpinnings offering a rewarding drive, but with an engine that needs to be worked hard.
However, the Volvo never feels truly on the edge. Even fully loaded, its road confidence remains high as it navigates picturesque scenery, the brakes confidently slowing progress before the engine winds back up again.
In 1979, Wheels magazine compared the 242 GT to its Saab rival, noting that it might benefit from a better exhaust note. However, hindsight and more time with the car might have changed their minds.
Many 242 GTs were directly converted for racing. Two participated in the 1979 Repco Reliability Run, a 12,000-mile endurance event across Australia. A 244 finished fourth, while the best 242 GT managed only 30th.
Later that year, at the Bathurst 1000, a largely unmodified 242 GT finished 20th out of over 50 entrants. Its capabilities impressed the public, and many GTs were later converted to Turbo Group A spec, successfully competing against icons like the BMW E30 M3.
In 1981, the 240 GLT took over, marking the beginning of the turbo era and the end of the GT’s relatively brief run. However, the 242 GT initiated a remarkable period for Volvo.
For its time, the two-door Volvo was relatively fast, arguably a precursor to the modern European performance saloon. Its subtle styling, tweaked suspension, and impressive performance-to-weight ratio set the stage for future fast Volvos.
Initially preoccupied with nostalgia and the notion that “loud means proud,” I missed the GT’s point. Fortunately, I had a second chance to appreciate it.
Images: Max Edleston
Jake’s Volvo 240 GL: Brothers in Arms
Jake, Finn’s older brother, started his Volvo journey with a 1991 2-litre 240 GL at 18. Bought from an antiques dealer, it was an affordable solution to high insurance costs.
The estate remained standard for 18 months before adding rally-spec mudflaps and a roof rack. “It was high up, bouncy, and not good on motorways,” Jake recalls. “It got louder, but not faster.”
“When Finn bought his 240, I realised how bad mine was!”
Jake then made improvements: “I lowered it, fitted uprated springs, adjustable Koni dampers, a sports exhaust, and a ‘B-cam’ from the USA. It became more torquey, but developed a rod knock in 2022.”
He fitted a 2.3-litre turbo engine, a limited-slip differential, new seats, a 3in stainless-steel exhaust system, and uprated the fuelling.
His Volvo is now back on the road, but he admits the temptation to extract more performance remains.
“There’s nothing like brotherly competition to inspire a build,” Jake smiles. “Although I’m not about to find my own 242 GT!”
Factfile
Volvo 242 GT
Sold/number built
1978-’81/c5000
Construction
steel monocoque
Engine
iron-block, alloy-head, sohc 2316cc ‘four’, Bosch K-Jetronic fuel injection
Max power
140bhp @ 5750rpm
Max torque
140lb ft @ 4500rpm
Transmission
four-speed M46 manual with overdrive, RWD
Suspension: front
independent, by MacPherson struts
rear
live axle, trailing arms, coil springs, telescopic dampers, Panhard rod; anti-roll bar f/r
Steering
power-assisted rack and pinion
Brakes
ventilated front, solid rear discs, with servo
Length
16ft 1in (4900mm)
Width
5ft 7¼in (1710mm)
Height
4ft 8¾in (1440mm)
Wheelbase
8ft 8in (2640mm)
Weight
2844lb (1290kg)
Mpg
30.4
0-60mph
9.8 secs
Top speed
112mph
Price new
US$15,995
Price now
£10-14,000
Prices correct at date of original publication