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It was the last full model year of "cheap gas" before the OPEC oil embargo of late 1973 brought change to the industry forever. Although fuel economy was not the preoccupation it would be in succeeding years, several other concerns of the future, specifically regarding safety and the environment, were addressed.

Chrysler's famous Electronic Ignition System became standard across the board this year. Introduced on a limited basis in 1971, it was being installed on all engines late in the 1972 model year. The pointsand condenser-less system provided up to 35% more voltage that improved cold weather starting and reduced misfiring. Also helping reduce emissions was the Cleaner Air System which featured an exhaust gas recirculation system that routed a varied volume of exhaust gas to the incoming fuel/air mixture to lower peak burn temperatures. Also included were an orifice spark advance and an electric assist choke.

This was also the Year of the Bumper when bumpers able to withstand 5 mph front and 2.5 mph rear impacts were mandated by law. Although the bumpers had to be set two inches further from the body than on previous models, Plymouth did a better job of integrating them into overall styling than some other manufactures managed to do.

Backing up the bumpers were a full-width reinforcement beam and heavy-gauge steel support structure. Notable were the elastomeric guards designed to keep the bumper from slipping over or under another car's bumpers during a low-speed collision. The new bumper requirements led to significant front end styling changes to the Fury, Satellite and Valiant series with the first two losing their distinctive loop bumpers, resulting in a far more subdued appearance. (Interestingly, sibling rival Dodge's Charger managed to keep its loop bumper.)

For greater braking performance, disc brakes were made standard on all cars except the six-cylinder Valiants, and even for these cars, they were optionally available. Power assist was standard on all Furys, Duster 340s, and all wagons. Another sign of things to come was the Security Alarm System available on the Fury series.

Chrysler's corporate production increased 13.1 % over 1972, bettering the overall industry's 9.5% improvement and garnering an industry share of 15.55 percent Although doing even better with a 21.2% improvement in sales, Plymouth remained stuck in the No. 6 industry position.

Plymouth toned down the frontal appearance of its mid and full size offerings by lopping off the loop bumpers in favor of the more conventional grille-over-bumper arrangement. The change was due more to government requirements for energy absorbing bumpers than to style considerations.

The Satellite coupes received new front sheet metal with slightly slanted headlights surrounded by a bright rectangular bezel. Between was a grille consisting of a double row of rectangles with parking lights set in the lower outer corner. The window edge of the C-pillar was moved into a nearly vertical position. The lower body character ridge was eliminated. The taillights still resided in the rear bumpers, but as inset ovals.

The Plymouth Satellite Sebring may have been created to compete with the Chevrolet Monte Carlo. They added 38 extra square feet of sound-deadening material to create its "Super-Quiet" ride. Plush wide-pleat upholstery and other ornamentation completed the package.

The Road Runner had a large "power bulge" with simulated vents on the forward corners. Stripes on the sides identified the engine size. When a 440 engine was installed, the stripe read "440 GTX." Although the separate GTX model was dead, its name lingered as the 440 package for the Road Runner. The Road Runner engine selection ran from the 318 through the 340, 400 and 4 and 6 barrel 440s. The horsepower ratings of all were down due to emissions and fuel economy considerations.

The mid-sized Satellite sedans continued with their own 117" wheelbase - two inches longer than the coupe version. The top line wagon was called Regent, borrowed from Canadian Plymouth-bodied Dodges of the 1950s. For 1973, with no sheet metal changes, Satellite sedans were given a new grille inset. A surface-level, argent colored panel had a center oval cutout for an egg crate patterned grille that was deeply recessed at the ends for a more formal appearance. The backup lenses were altered into a rectangular pair per side, and flanking the license plate were heavy rubber bumper guards.