Moffat had been winning more races in the Phase Two GTHO since his last Bathurst win but this made way for the Phase Three's racing debut at Sandown in September 1971.

It was not the sort of debut to which Moffat was beginning to get accustomed: his car retired along with team mate John French's, Murray Carter's Phase Three was a finisher, and second at that, but some five laps behind race winner Peter Brock.
On to Bathurst and Moffat proved just how quick this Phase Three was by lapping the track in practice in a time of 2-38,9 taking a mammoth ten seconds off the times set by the Phase Two just twelve months earlier. It was a great year for the Falcons and another superb effort from Moffat as he led the race for almost the entire distance, once again driving solo.
All the work put into the engines paid off as not one of the 13 Phase Threes suffered engine failure, quite a reversal of the previous year's score.
Moffat went on the next month to win the Rothmans 250 Manufacturers' Championship race at Surfers Paradise.