Late in 1970, Ford replaced the XW range with the new XY range. As with the XW, a GT was also released. By the first half Of 1971 , a GT-HO, the Phase III, was released. This GT-HO was a true supercar and With a top speed Of over 140rnph was the hotest four door sedan in the world at the time.
Approximately 300 XY GT-HO Phase Ill Falcons were produced. This new XY had more subtle side striping than the XW, but it lacked none of the aggressive 100k people had come to expect. A functional, as well as decorative, air-cleaner assembly with a scoop protruding through a hole in the bonnet was standard- Ultimately this scoop assembly would become known as a "shaker".
The driving lights, bonnet pins, bonnet blackouts and red wall tyres fitted to five slot or the five Star rims, enhanced the car's appearance. The car was available in many colours and three trim colours, black. white and saddle.
As with the XW GT and the XY GT and previous GT—HOs, the Phase Ill had the top of the line interior with a centre console, a sports steering wheel and a sports dash with a 140mph speedometer and an 8000rpm tachometer. The 351 cubic inch four barrel Cleveland engine was retained from the Phase II. Though the Phase II looked different from the Phase III, mechanically they were similar. The most significant engine improvernent on the Phase Ill was the introduction Of a full extractor exhaust system. A 780cfm Holley carburettor With a manual choke replaced the 750cfm Holley used on the Phase II. A few internal modifications to the Phase Ill allowed the engine to produce more horsepower.
The Phase Ill brakes were upgraded with the introduction of a brake vacuum reserve tank and new PBR front callipers. Not all the Phase III Falcons had the PBR callipers as standard. with many being fitted with "old" Kelsey Hayes type. The XY was such a beautifully built car, with awesome power and handling to match.