Seen by many as either a pint-sized Camaro or a grown-up Vega, the Monza was a product of GM’s response to the 1973 OPEC Oil Embargo. When the Organization of Petroleum Exporting Countries decided to deprive Uncle Sam of oil for mainly political reasons, Americans panicked as the price of gasoline (and all other petroleum-based products, from home-heating oil to plastic spoons) jumped dramatically.
All over America, lightly used SS 396 Chevelles, Z28 Camaros, and virtually every other type of high-performance V-8 machine was rendered nearly worthless. By 1975, tens of thousands of people traded in SS454 Monte Carlos, 409 Impalas, 327 Novas, and the like as partial payment on Honda Civics, Volkswagen Rabbits, Chevy Chevettes, and other compact and subcompact offerings. In most cases, trade-in allowances were well below…