The B52 Falcon, now in red paint was taken into another season of racing in 1976.
Moffat put his all into winning the Australian Touring Car Championship again, winning the second and third rounds to put him into the lead on points.
Before the sixth round of the Champioship at Adelaide, however, both the red car and the superb International transporter, met a fiery end. The transporter caught fire in the Adelaide Hills and the whole rig burnt to the ground.
Moffat borrowed Goss's Falcon for the race and won brilliantly but his Championship aspirations finally went up in flames just like his famous Project B52 Falcon.
The new car was to become "Project Phoenix", an appropriate title for a car which was to rise from the ashes and carry all before it.
International Harvester had also decided to come to the party and not only replace the mammoth transporter, but to provide an even better version in light of the Moffat team's use of the previous example over the past year.
The decision to start again from scratch with a new Falcon GT 2-door was taken despite around-Australia commitments in the inaugural Australian Sports Sedan Championship (which he eventually won with the Capri and Chev Monza) and the fact that most of the team's race equipment was lost in the fire.
As well as losing the $50,000 transporter and the Falcon, which cost more than $100,000 to develop, the fire also destroyed spare race engines, gearboxes, differentials, 20 wheels, 30 tyres, air jacks, power tools, mechanics tools and a compressor.
The one light to shine through it all, however, was that all the information so expensively obtained from the destroyed Falcon was safely kept in the files of Moffat Racing back in Malvern.
With this, it was possible to reproduce the old car exactly, making a few basic changes in the light of two years racing experience with that particular vehicle.
