The Pontiac GTO was relaunched in the United States in 2004, based on the Holden Monaro's V platform. The Monaro is a 2 door coupe variant of the Australian developed VT/VX Holden Commodore. The Commodore was in turn developed by enlarging the European designed 1994 Opel Omega B, which was marketed in its original form in the U.S. from 1997 to 2001 as the Cadillac Catera. The revival was prompted by former GM chairman Bob Lutz, who drove a Holden Monaro while on a business trip in Australia.

The GTO was produced by GM's Holden subsidiary in the suburb of Elizabeth, South Australia. It was equipped with the Corvette's LS1 ('04) and LS2 ('05-'06) V8 engine with a choice of a 6-speed manual transmission or a 4-speed automatic. The same model was sold in the United Kingdom as the Vauxhall Monaro and in the Middle East as a Chevrolet Lumina SS. GM North America made a deal with Holden to produce a maximum of 18,000 vehicles per year starting in late 2003 and going through to the end of the 2006 model year. The 18,000 units was the production limit for the model at the Australian assembly plant.

GM had high expectations to sell 18,000 units, but the Monaro-based GTO received a lukewarm reception in the U.S. In a perplexing contrast to its more modern, sportier design, the styling was frequently derided by critics as being too "conservative" and "anonymous" to befit either the GTO heritage or the current car's performance. In addition, the GTO faithful felt further insulted by GM's failure to present a U.S.-built car that incorporated any design lineage from the muscular icons of the 1960s and 1970s. Given the newly revived muscle car climate, it was also overshadowed by the Chrysler 300, the Dodge Charger, Dodge Magnum and the new Ford Mustang, which all featured more traditional "muscle" aesthetics. Sales were also limited because of dealer tactics, such as initially charging large markups and denying requests for test drives of the vehicle. By the end of the year, the 2004 vehicles were selling with significant discounts. Sales were 13,569 of 15,728 cars for 2004.

To help squelch comments about the car's appearance, the hood scoops that originally were slated for production in 2004, were pushed into production as part of an over-the-counter Sport Appearance Package. The 2004 Sport Appearance Package also included a taller and more angular rear spoiler as well as deeper inset grilles.

Closing out the 2004 model year was the W40 package. Rumored to be a stillborn 40th anniversary package, it gave the buyer an exclusive paint color called Pulse Red, red GTO embroidery on the seats, and a grey colored gauge cluster. The last 800 2004 GTOs were built with the W40 package.

More in depth information and images at this link: 2004-2006

The 2005 model year continued with the addition of standard hood scoops, split rear exhaust, and late in the year, optional 18 inch (45.7 cm) wheels. The major change for 2005 was the replacement of the LS1 engine with the LS2 engine. This 5,967 cc (364.1 cu in) motor increased power and torque in the GTO to 400 hp (298 kW) with 400 ft·lbf (542 N·m) torque. With this improved powerplant, Pontiac claimed the car capable of 0 to 60 mph (97 km/h) in 4.6 seconds and a 13.0 second quarter mile at 108 mph (174 km/h) (automatic transmission). Car and Driver magazine tested the car at 4.8 seconds 0-60 mph and 13.3 seconds at 107 mph (172 km/h) for the quarter mile, so the claims seem justified. Dashboard gauge graphics were also revised. The optional dealer installed Sport Appearance Package became available and differed visually by having a different lower rear fascia that sported quad chrome exhaust tips, louder aggressive sounding mufflers, a modified spoiler, a modified front lower fascia extension, recessed SAP Grilles, and modified rocker panels. This package was available from GM as an accessory in red, silver, black, or primer for other color cars. Nonetheless, production was scaled back to 11,069, primarily because of a shortened model year. Barbados Blue and Cosmos Purple were dropped this year, but Cyclone Grey and Midnight Blue Metallic were added. On a side note, customers had the option to order their GTO without hood scoops, though only 24 were produced this way.

More in depth information and images at this link: 2004-2006

For 2006, two additional colors were added to the line up, Spice Red Metallic and Brazen Orange Metallic, while Midnight Blue Metallic and Yellow Jacket were dropped. Changes for 2006 included revised blacked-out tail lamps, illuminated steering wheel radio controls and an interior power door lock switch. The climate control button for the A/C also had the word "Defrost" added to it for the 2006 model year.

On February 21, 2006, General Motors reportedly told dealers that it would halt imports of the GTO in September, making 2006 the last model year for the current GTO generation. This should have come as no surprise since this generation GTO was only intended to be produced for those 3 years from the beginning of the program.

The final production numbers of the 2006 Pontiac GTO are 13,948 cars, an increase from 11,069 from the previous model year.

The last Pontiac GTO, which was also the very last Monaro-based coupe produced, came off the assembly line in Australia on June 14, 2006. Total production for all three years was 40,808 vehicles.

More in depth information and images at this link: 2004-2006

In 2007, the GTO.R was replaced by the Pontiac G6 GXP.R.

More in depth information and images at this link: 2004-2006