Volvo 242 (1974)IFCAR, Public domain, via Wikimedia Commons

Volvo 242 GT

1974 — Sweden

Muscle Era (1960-1974)Economy / CompactSwedishRally LegendsHomologation SpecialsUnder $50k ClassicsAffordable CollectiblesBarn Find Candidates
Engine2,127 cc Inline-4 OHC
Power123 hp
Torque130 lb-ft
Transmission4-speed manual with overdrive (M46)
DrivetrainRWD
Body StyleCoupe
Weight2,778 lbs
0–60 mph10.5 sec
Top Speed112 mph
Original MSRP$8,445
BrakesVentilated disc / Disc
SuspensionIndependent, MacPherson struts, coil springs, anti-roll bar / Live axle, trailing arms, coil springs, Panhard rod

Volvo 242 GT

The Volvo 242 GT was an early attempt by Volvo to offer a sportier variant of the 240 series. Introduced in the mid-1970s, the GT combined the two-door 242 body style with visual and mechanical enhancements that gave the car a more athletic character than the standard 240 models. While the GT was not dramatically faster than a well-specified standard 242, it represented an important shift in Volvo's thinking — an acknowledgment that some customers wanted their safety and practicality served with a side of style and performance.

The 242 body style itself was the most visually distinctive of the 240 range. The two-door configuration, with its long doors, pillarless side windows, and coupe-like proportions, gave the 242 a presence that the four-door sedan could not match. The GT package added black exterior accents — black bumper inserts, black window surrounds, and black grille treatment — that emphasized the car's angular lines and gave it a purposeful, sporting appearance.

Under the hood, the GT received the B21E engine with Bosch K-Jetronic continuous fuel injection, producing 123 horsepower from 2,127 cc. This was a meaningful improvement over the carbureted B21A engine in the base 240, offering better throttle response, more consistent running, and improved fuel efficiency. The four-speed manual transmission with electrically-engaged overdrive provided the driver engagement that GT buyers expected — automatic transmission was not typically available on the GT specification.

The chassis received firmer springs and damper settings, and the GT rode on alloy wheels that were wider than the standard 240's steel wheels, providing improved grip and a more planted feel. The steering was unchanged from the standard car — the same slow, heavily-weighted rack that characterized all 240s — but the firmer suspension settings gave the GT a slightly more connected feel on twisting roads.

The interior featured sport-style front seats with improved lateral support, a leather-wrapped steering wheel, and a tachometer that was not standard on all 240 models. The overall ambiance remained unmistakably Volvo — functional, durable, and devoid of frivolity — but the GT touches added just enough sporting flavor to differentiate it from the mundane DL and GL trim levels.

The 242 GT is significant in Volvo's history as the first factory sport package offered on the 240 series. It paved the way for the 242 Turbo and ultimately the 240 Turbo models that would establish Volvo's performance credentials in the 1980s. Today, the 242 GT is appreciated as a relatively rare and attractive variant of the 240 series, offering two-door coupe style with the legendary 240 platform's durability and ease of maintenance. The two-door body style is particularly popular among enthusiasts who use their 240s for autocross and track-day events.

$6,000 – $20,000

The two-door 242 body is rarer than the sedan and estate, making parts-car sourcing more difficult. Check for all standard 240 rust areas: front fenders, sills, floor pans, and rear wheel arches. The two-door body's longer doors can sag on their hinges, causing alignment issues — check for even gaps and proper closing. The B21E engine with K-Jetronic injection is reliable but the fuel distributor can develop issues with age. Verify the overdrive operates correctly — solenoid and relay failures are common. GT-specific parts (alloy wheels, trim pieces, badges) are increasingly scarce. The pillarless side windows should seal properly — water ingress can cause interior damage. Sport seats may show bolster wear.

The 242 two-door body was produced from 1974 to 1984. The GT package was available from approximately 1975-1978. The 242 body style was discontinued before the sedan and estate variants, which continued until 1993. The 242 platform also served as the basis for the 262C Bertone coupe and the 242 Turbo Group A homologation special. Production was at Torslanda, Sweden.