- Corvette was advertised as "America's only true production sports car."
- After the demise of the big-block 454-cid, the 350-cid (5.7-liter) small-block engine remained alone to power all corvettes for the next ten years.
- Two V-8s were offered this year
- The L48 (base engine) had 180 hp (up 9% from 1975).
- The L82 (optional engine) produced 120 hp. It had special heads with larger valves, impact-extruded pistons, and finned aluminum rocker covers
- The standard V-8 was linked to a lighter automatic transmission: the Turbo Hydra-Matic 350, which was supposed to improve shifting at wide-open throttle.
- The optional V-8 kept the Turbo Hydra-Matic 400, but with a revised torque converter
- A wide-range four-speed manual gearbox (with 2.64:1 first gear ratio) was standard and a close-ratio version was available at no extra cost.
- A new Carburetor Outside Air Induction system moved intake from the cowl to above the radiator.
- The convertible was dropped this year, so only the Stingray coupe remained.
- It had the removable roof panels.
- A partial steel underbody replaced the customary fiberglass, to add strength and improve shielding from exhaust system heat.
- A new one-piece bar Corvette nameplate was on the rear, between twin-unit tail lamps (which were inset in the bumper cover).
- Of the 10 body colors, eight were Corvette exclusives:
- White
- Silver
- Bright Blue
- Dark Green
- Mahogany
- Bright Yellow
- Buckskin
- Dark Brown
- Orange Flame
- Red
- Corvettes had side marker lights with reflectors, parking lamps that went on with the head lamps, lane-change turn signals and two-speed wiper/washers.
- Inside was a new, smaller-diameter four-spoke sport steering wheel with crossed-flags medallion, which actually came from the Chevrolet Vega subcompact.
- Not everyone appreciated its lowly origin, so it lasted only this year.
- A grained vinyl-trimmed instrument panel (with stitched seams) held a 160-mph speedometer with trip odometer and 7,000-rpm electronic tachometer.
- A key lock in the left front fender set the anti-theft alarm.
- Corvettes had fully-independent suspension and four-wheel disc brakes.
- Wide GR7O SBR tires rode 15 x 8-inch wheels.
- A total of 5,368 Corvettes had the FE7 Gymkhana suspension installed; 5,720 came with the L82 V-8; and 2,088 had the M21 four-speed close ratio manual gearbox.
- Cast-aluminum wheels were a new option, and were installed on 6,253 cars.
- Standard equipment included
- bumper guards
- flush retracting headlamps
- Soft-Ray tinted glass
- Hide-A-Way wipers
- wide-view day/night mirror
- center console with lighter and ashtray.
- Behind the seat-backs were three carpeted storage compartments.
- Bucket seats had textured-vinyl or leather upholstery and deep-pleated saddle-stitching.
- Interior leather trim was now available in seven colors, while vinyl was available in four colors.
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