1973 started Corvette's transformation from muscle to touring sports car. A Chevrolet advertisement headlined: "We gave it radials, a quieter ride, guard beams and a nose job."[11] Indeed, redesigned body mounts and radial tires did improve Corvette's ride, and interior sound levels were reduced by 40%.[11] The chrome rear bumper was essentially carried over from the previous year. However, the chrome blade front bumper was dropped for the federally required 5mph (8.0km/h) standard for a light-weight front bumper system with an inner transverse tube attached to the frame with two Omark-bolts-(special steel fasteners which absorbed energy when a forming die, pushed back by the bumper, was forced down their length), and an injection-molded urethane bumper cover. The urethane nose was chosen over Chevy's other alternative, a more protruding version of the previous metal bumper. The new urethane bumper assembly added thirty-five pounds to the front end.[4] Two 350cuin (5.7L) small block engines were available. The base L-48 engine produced 190hp (142kW). The L-82 was introduced as the optional high performance small-block engine (replacing the LT-1 engine) and delivered 250hp (186kW). The new hydraulic lifter motor featured a forged steel crankshaft, running in a four-bolt main block, with special rods, impact extruded pistons, a higher lift camshaft, mated to special heads with larger valves running at a higher 9:1 compression, and included finned aluminum valve covers to help dissipate heat. The L-82 was designed to come on strong at higher RPM[12] and ordered with nearly 20% of the cars at a cost of $299.[4]

Car and Driver on the L-82 in December 1972, “…when it comes to making a choice, the L82 is the engine we prefer. Duntov and the other Corvette engineers gravitate toward the big blocks because they like the torque. And granted, the 454s will squirt through traffic with just a feather touch on the gas pedal. But, to us at least, the small block engine contributes to a fine sense of balance in the Corvette that is rare in any GT car, so rare that it would be a shame to exchange it for a few lb.-ft. of torque.”[13]