The 1973 was a transitional model, in terms of appearance. Due to Federal mandate, front bumpers had to withstand a 5mph impact without damage to the lights and any safety equipment. Accordingly, the Corvette's front was lengthened and the bumper was painted body color. The rear bumpers were essentially unchanged from 1972.

Other visual changes included the elimination of the panel that hid the windshield wipers and the addition of a redesigned hood with cold air induction. Non visual changes included the addition of sound deadener material and new chassis mounts designed to reduce noise and vibration. The rear window was also not removable in 1973 but the change did yield extra interior room. Other improvements included the use of radial tires for the first time.

On the other hand, engine availability was reduced to just three engines- the standard 350 c.i. V-8 was now rated at only 190hp. The optional L82 350 c.i. V-8 was rated at 250hp with the LS4 454 c.i. V-8 rated at 275hp.

New for 1973 was the Z07 Off Road Suspensuion and Brake Package. Available only with the two optional engines, it included heavy duty front and rear power brakes and firmer suspension components. The M21 close-ratio transmission was a required option.

The FE7 gymkhana suspension package, which was included with the Z07 package, comprised of firmer springs and front anti-sway bar.

The 1973 was supposed to have a new optional cast aluminum wheel but due sealing problems, only four Corvettes were so equipped. The wheel was eventually reintroduced on the 1976 Corvette.

Production of the LS4 454 c.i. V-8 amounted to 4,412 units.