In 2004, the Pontiac GTO was relaunched in the U.S. market in the form of a rebadged, third-generation Holden Monaro.

The VZ Monaro-based GTO was Pontiac's first captive import since the 1988–1993 Pontiac LeMans. The V2/VZ Monaro was a 2-door coupe variant of the Australian developed VT/VX Holden Commodore. The Monaro was also exported to the United Kingdom as the Vauxhall Monaro and to the Middle East as the Chevrolet Lumina SS.