the 1962 armstrong 500 was an endurance race for australian built production cars. the race was held at the phillip island circuit in victoria, australia on 21 october 1962 over 167 laps of the 3.0 mile circuit, a total of 501 miles. cars competed in four classes based on the retail price of each model. officially, only class placings were awarded but the no 21 ford falcon driven by harry firth and bob jane was recognised as "first across the line". this was the third and last armstrong 500 to be held at phillip island prior to the race being moved to the mount panorama circuit at bathurst in new south wales where it later became known as the bathurst 1000.