The 1972 Phillip Island 500K was an endurance motor race open to Group E Series Production Touring Cars.[1] The event, which was Heat 4 of the 1972 Australian Manufacturers' Championship, was held on 21 October 1972 at the Phillip Island circuit in Victoria, Australia over a distance of 318 miles[2] (512 km). It was organised by the Phillip Island Auto Racing Club.[3]
The race was won by Allan Moffat driving a Ford XY Falcon GTHO Phase III.
As a heat of the 1972 Australian Manufacturers' Championship, the race featured four classes defined by "Capacity Price Units".[4] The C.P. Unit value for each car was assessed by multiplying the engine capacity (in litres) by the Sydney retail price (in Australian dollars).[4]
| Position | Drivers | No. | Car | Entrant | Class | Class pos. | Laps |
| 1 | Allan Moffat | 1 | Ford XY Falcon GTHO Phase III[5] | Ford Motor Co. of Australia | D | 1 | 106 |
| 2 | Peter Brock | 28 | Holden LJ Torana GTR XU-1 | Holden Dealer Team | C | 1 | 106 |
| 3 | Fred Gibson | 8 | Ford XY Falcon GTHO Phase III | Ford Motor Co. of Australia | D | 2 | 104 |
| 4 | Graeme Blanchard | 29 | Holden Torana GTR XU-1 | Blanchard Motors | C | 2 | 102 |
| 5 | Colin Bond | 24 | Holden Torana GTR XU-1 | Holden Dealer Team | C | 3 | 102 |
| 6 | Tom Naughton | 4 | Chrysler VH Valiant Charger | Eastside Chrysler | D | 3 | 102 |
| 7 | Murray Carter | 3 | Ford XY Falcon GTHO Phase III | M. Carter | D | 4 | 101 |
| 8 | Tony Niovanni | 35 | Holden Torana GTR XU-1[6] | Peter Robinson Motors | C | 4 | 100 |
| 9 | John Stoopman | 26 | Holden Torana GTR XU-1 | J. Stoopman | C | 5 | 99 |
| 10 | Bill Gates | 51 | Ford Escort Twin Cam | Morley Ford | B | 1 | 98 |
| 11 | Lakis Manticas | 38 | Ford Escort GT | Slideaway Car Roofs P/L | B | 2 | 98 |
| 12 | Jim Murcott | 40 | Ford Escort GT | Brian Wood Ford | B | 3 | 98 |
| 13 | Wayne Rogerson | 37 | Mazda Capella | Mazda Dealer Team | B | 4 | 96 |
| 14 | Ray Harrison | 25 | Alfa Romeo 1750 GTV | A. F. & M. Beninca P/L | C | 6 | 96 |
| 15 | John Piper | 39 | Ford Escort Twin Cam | Evans Motor Service | B | 5 | 96 |
| 16 | George Garth | 49 | Mazda Capella | Mazda Dealer Team | B | 6 | 93 |
| 17 | Geoff Perry | 67 | Mazda 1300 | Bainbridge Motors | A | 1 | 90 |
| 18 | Mel Mollison | 64 | Mazda 1300 | Bainbridge Motors | A | 2 | 90 |
| 19 | Fred Sutherland, Gary Keen | 74 | Mazda 1300 | Victorian Police Motor Sport Club | A | 3 | 88 |
| 20 | Allan Keith | 42 | Ford Escort Twin Cam | A. R. Keith | B | 7 | 87 |
| 21 | Doug Whiteford | 68 | Datsun 1200 | Datsun Racing Team | A | 4 | 84 |
| 22 | Gary Parnaby | 44 | Datsun 1600 | G. A. Parnaby | B | 8 | 79 |
| NC | Roxburgh, Jon Leighton | 63 | Datsun 1200 | Datsun Racing Team | A | ||
| ? | Bill Evans | 73 | Datsun 1200 | Datsun Racing Team | A | ||
| DNF | Lawrie Nelson | 14 | Chrysler VH Valiant Charger | Tony Roberts Auto. Centre | D | ||
| DNF | Des West | 7 | Ford XY Falcon GTHO Phase III | Goldpower Automotive P/L | D | 36 | |
| DNS | Brian Ovenden | 5 | Chrysler VH Valiant Charger | Les Foster Tyres, Moorabbin | D | ||