If the 1961 Corvette was good, the 1962 Corvette was even better. With still more power and even cleaner looks, it ranks as perhaps the most desirable Corvette between 1957 and 1963. The car's base price broke the $4,000 barrier for the first time, at $4,038. A heater was finally made standard for 1962, more than negating the price increase over the previous year's model, but it could be deleted if so desired, which was intended for racing purposes.

The 1962 Corvette's look featured a blacked-out grille, simple vents instead of chrome windsplits in the "coves," ribbed rocker-panel trim, and a monochromatic color scheme.

Under the hood, the 283 engine was bored and stroked to bring its cylinder dimensions to 4.00 × 3.25 inches and displacement up to 327 cid. The small-block V-8 would continue in this form as the Corvette's main muscle through 1965. And muscular it was. Even the base 327 pumped out 250 bhp, and in top form could generate an explosive 360 bhp. The deeper-breathing 327 block necessitated a small but important change in the Rochester fuel-injection system, and heavier-duty bearings, larger ports, and a longer duration camshaft were fitted to all but the base 250-bhp engine. The solid-lifter Duntov cam was now specified for the most potent of the three carbureted engines, now up to 340 bhp (as well as continuing in the top fuelie). Both of these ran tight 11.25:1 compression, versus 10.5:1 for the base and step-up 300-bhp engines. The latter two were perhaps the best choices for all-around use, offering more than enough power plus the simplicity and easy maintenance of hydraulic tappets and a single four-barrel carburetor.

The 1962 Corvette was the last model year in its generation.

The extra power and torque of the larger 327 V-8 translated into truly ferocious 0-60-mph and quarter-mile acceleration: The four-speed/fuelie routinely hit the quarter-mile mark in 15 seconds or less at speeds of 100 mph or more in magazine tests. And with the appropriate options, the Corvette was still a winning production-class racer. Again in 1962, The Sports Car Club of America's A-Production champion was Dr. Dick Thompson. The Corvette was a serious competitor even with only minor modifications. Don Yenko, for example, took the SCCA's B-Production title that season.

The 1962 Corvette marked the end of an era for America's sports car, with the first completely new model in its history now a mere model year away. Still, the 1962 was a transitional model in that it introduced the venerable 327 V-8, which would be carried over to the new design. While the car harkened back to its roots as a 1953 introduction, thanks to Bill Mitchell, Zora Arkus-Duntov, and company, the 1962 was faster, handled better, looked handsomer, and was more civilized than any previous Corvette, but retained much of the charm of the original roadster concept. Sales on the year jumped by nearly 40 percent to 14,531 units, and the Corvette was firmly in the black as far as GM's bottom line was concerned.

And they weren't resting on their laurels, either. The first completely redesigned model in its history would soon come to be realized as the epitome of Chevy's plastic-bodied sports car, and the appellations "Corvette" and "Stingray" would become synonymous.