Nonetheless, the 1962 Corvette was offered with a plethora of high-performance options, described in factory literature as 'special equipment for sports car meets.' Among the choices was the fuel-injected 327 cubic-inch V8 engine offering 360 horsepower and finding its way into 1,918 Corvettes. Of those, 246 were equipped with heavy-duty chassis equipment (RPO 687), which included fast-ratio steering, heavy-duty shock absorbers, and large sintered-metallic drum brakes with cooling fins, vented backing plates, and air scoops. Of those, just 65 were given the extra-large 24-gallon fuel tank (RPO 488), earning them the nickname 'tanker' Corvettes.

By 1962, the Corvette had scored international class victories at Le Mans and Sebring and was on its way to its sixth-consecutive SCCA B Production National Championship. The list of legendary drivers included Dr. Dick Thompson, Jim Jeffords, Bob Johnson, and Don Yenko. The original 265 cubic-inch displacement of 1955 had grown to 327 cubic inches in 1962, and the options list included the 'Duntov cam,' Rochester fuel injection, suspension packages, and competition brakes. New Chevrolet president Semon 'Bunkie' Knudsen, previously at the helm of the Pontiac Division, hired a new marketing team to help increase sales from 10,939 in 1961 to over 14,000 for 1962, a monumental task for an outgoing model. For this reason, Knudsen decided that only minimal changes were to be applied to the 1962 Corvette.

In 1961, the new 'ducktail' rear treatment foretold Corvette's dramatic 1963 Sting Ray. Styling Chief Bill Mitchell continued cleaning up the car's exterior, most noticeably removing the side cove trim and two-tone paint, a blacked-out grille, and adding ribbed rocker trim that would continue on the new 1963 models. Standard features included an electric clock, dual exhaust, heater and defroster, seat belts, windshield washer, tachometer, and outside rearview mirror.