The 1971 Phillip Island 500K was an endurance race for Group E Series Production Touring Cars held at the Phillip Island Grand Prix Circuit in Victoria, Australia on 24 October 1971. The event was staged over a race distance of 106 laps, totalling 318miles. It was Round 4 of the 1971 Australian Manufacturers' Championship.
The race was won by Colin Bond, driving a Holden Torana GTR XU-1.
The field was divided into five classes according to the assessed CP Units of each car (i.e. engine capacity in litres multiplied by retail price in dollars).
| Position [1] | Drivers | No.[2] | Car | Entrant | Laps | |
|---|---|---|---|---|---|---|
| 1 | Colin Bond | 31 | Holden Torana GTR XU-1 | Holden Dealer Team | 106 | |
| 2 | Peter Brock | 32 | Holden Torana GTR XU-1 | Holden Dealer Team | 106 | |
| 3 | Doug Chivas | 45 | Chrysler Valiant Charger | Liverpool Chrysler | 105 | |
| 4 | Frank Porter | 43 | Holden Torana GTR XU-1 | Garry & Warren Smith | 104 | |
| 5 | Allan Moffat | 65 | Ford Falcon XY GTHO Phase III | Ford Motor Co. of Australia Ltd. | 104 | |
| 6 [3] | Tony Roberts | 39 | Holden Torana GTR XU-1 | Dustings of Burwood | 102 | |
| 7 | Tom Naughton | 33 | Chrysler Valiant Charger | Northcote Chrysler | 101 | |
| 8 | John Piper | 29 | Ford Escort Mk.I Twin Cam | J. J. Piper | 99 | |
| 9 | Bill Evans | 27 | Ford Escort Mk.I Twin Cam | R. G. Wilson | 99 | |
| 10 | Bob Forbes | 23 | Fiat 124S | Fiat Dealer Team | 98 | |
| Class A (Up to 3000 CP Units) | ||||||
| 1 | Geoff Perry | 3 | Mazda 1300 | G. R. Perry | 90 | |
| 2 | Mel Mollison | 4 | Mazda 1300 | M. N. Mollison | 87 | |
| 3 | Jim Laing-Peach | 2 | Datsun 1200 | Datsun Racing Team | 85 | |
| DNF | Doug Whiteford | 1 | Datsun 1200 | Datsun Racing Team | ? | |
| Class B (3001 to 4600 CP Units) | ||||||
| 1 | Bill Stanley, Paul Gulson | 10 | Morris Cooper S | Marque Motors | 96 | |
| 2 | Lakis Manticas | 19 | Morris Cooper S | British Leyland Works | 92 | |
| 3 | Ron McCormack | 14 | Honda 1300 | Melbourne Vehicles Sales | ||
| Class C (2601 to 9000 CP Units) | ||||||
| 1 | John Piper | 29 | Ford Escort Mk.I Twin Cam | J. J. Piper | 99 | |
| 2 | Bill Evans | 27 | Ford Escort Mk.I Twin Cam | R. G. Wilson | 99 | |
| 3 | Bob Forbes | 23 | Fiat 124S | Fiat Dealer Team | 98 | |
| 4 | Clive Millis | 24 | Mazda Capella RE | Clive Millis Motors Pty. Ltd. | 97 | |
| DNF | Tony Niovanni | 22 | Mazda Capella RE | |||
| DNF | Jim Murcott | 25 | Ford Escort Mk.I Twin Cam | Brian Wood Ford | 44 | |
| DNF | Barry Ward | 26 | Ford Escort Mk.I Twin Cam | B. Ward | ||
| DNF | Alan Keith | 28 | Ford Escort Mk.I Twin Cam | A. Keith | 2 | |
| Class D (9001 to 18000 CP Units) | ||||||
| 1 | Colin Bond | 31 | Holden Torana GTR XU-1 | Holden Dealer Team | 106 | |
| 2 | Peter Brock | 32 | Holden Torana GTR XU-1 | Holden Dealer Team | 106 | |
| 3 | Doug Chivas | 45 | Chrysler Valiant Charger | Liverpool Chrysler | 105 | |
| 4 | Frank Porter | 43 | Holden Torana GTR XU-1 | Garry & Warren Smith | 104 | |
| 5 | Tony Roberts | 39 | Holden Torana GTR XU-1 | Dustings of Burwood | 102 | |
| 6 | Tom Naughton | 33 | Chrysler Valiant Charger | Northcote Chrysler | 101 | |
| 7 | Malcolm Ramsay | 41 | Holden Torana GTR XU-1 | City State Racing Team | 97 | |
| Lawrie Nelson | 34 | Chrysler Valiant Charger | Northcote Chrysler | |||
| Mike Bertram | 44 | Holden Torana GTR XU-1 | M. J. Bertram | |||
| Lionel Rose | 37 | Holden Torana GTR XU-1 | T. Robertson | |||
| DNF | Leo Geoghegan | 46 | Chrysler Valiant Charger | Geoghegan Sporty Cars | ||
| DNF | Bruce McPhee | 38 | Holden Torana GTR XU-1 | Kevin Dennis Motors | ||
| DNF | Brian Reed | 40 | Chrysler Valiant Charger | West Heidelberg Motors | ||
| DNF | Noel Devine | 35 | Chrysler Valiant Charger | Eastside Chrysler | ||
| DNF | John Walker | 42 | Holden Torana GTR XU-1 | City State Racing Team | ||
| Class E (18001 and Over CP Units) | ||||||
| 1 | Allan Moffat | 65 | Ford Falcon XY GTHO Phase III | Ford Motor Co. of Australia Ltd. | 104 | |
| 2 | Don Preece | 61 | Ford Falcon XY GTHO Phase III | Pitstop Motors | 84 | |
| DNF | Murray Carter | 60 | Ford Falcon XY GTHO Phase III | John Harding Ford | ||
| DNF | Phil Barnes | 62 | Ford Falcon XY GTHO Phase III | Byrt Ford | ||
Note: The above table may not show all starters.