- For all practical purposes the 1953 and 1954 Corvettes were the same.
- Minor changes were made to the window storage bag, air cleaners, starter, and locations of the fuel and brake lines.
- Unlike the previous year's model (which offered only Polo White), the 1954s were also available in Pennant Blue, Sportsman Red, and Black.
- The soft top was now offered in beige.
- A new style of valve cover was used. It was held on by four bolts through the outside lip instead of two center studs.
- The valve cover decals were different with larger lettering.
- The optional radio had Conelrad National Defense System icons on its face.
- In early 1954, the original two-handled hood latch was changed to a single-handle design.
- Six-cylinder Corvettes after serial number E54S003906 had integrated dual-port air cleaners.
- A clip to hold the ventiplanes closed was added in late 1954 and also used on all 1955 models.
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