Sales jumped 50 percent for the 1974 Camaro, just as the first serious bumper and safety modifications kicked in. A total of 151,008 were sold, and 22,210 of them were six-cylinder models. Base price for the six-cylinder was $2,827, while the base V-8 started at $3,039 and the Camaro LT luxury coupe at $3,380. The six-cylinder 250 cid engine developed 100 bhp, while the 350 V-8 was the only other engine, available in the base 145 bhp tune (not in California), or 160 bhp, 185 bhp and 245 bhp in the Camaro Z/28.

Both the front and rear of the 1974 Camaro were redesigned with aluminum bumpers. A sloping body colored fascia included the grille in front and full-width taillights curved around to the side to serve as marker lights as well. The redesign added seven inches and a significant amount of weight. An interlocking seat belt/ignition system was fitted (for this year only) and the Nova fuel tank substituted, raising capacity from 18 to 21 gallons. Radial tires were available for the first time, and 48,911 buyers chose them.

The Camaro Rally Sport option was discontinued at the end of 1974, and this would be the last year for the Camaro Z/28 option, which would return in 1977. A small percentage of enthusiasts opted for higher horsepower engines, with 9,139 paying $46 for the 160 bhp engine and 20,520 paying $76 for the 185 bhp engine. 13,802 handed over $572.05 for the Z/28 engine, which came with high-energy ignition, finned alloy valve covers, power brakes, heavy duty suspension and Positraction. The Z/28 stripe kit was multicolored in black, red, blue and white.

The trend towards comfort and luxury continued as horsepower dwindled. The Turbo Hydra-Matic transmission was fitted to 140,233 cars for $210, power brakes could be found on 124,010 cars for $46, Soft Ray tinted glass on 118,230 for $39, power steering on 102,043 for $113, and air-conditioning on 79,237 cars for $397.

As for some of the more frivolous options, 73,595 paid $33 for body side moldings, 70,670 paid $52 for a style trim group, 45,509 paid $6 for door edge guards, 41,231 paid $12 for color-keyed floor mats, 16,456 gave $35 for an interior décor and soundproof package, 6,759 spent $77 for four-colored striping, and 5,843 shelled out $14.16 for a space-saver spare tire.

Driving enthusiasts still had some options and 7,003 paid $200 for the wide-ratio 4-speed while 3,336 spent the same sum on the close-ratio box. Positraction found 6,473 buyers for $45 and 2,633 bought turbine wheels for $110.50. A special instrument package for 82 attracted 10,425 drivers and came standard in the LT. Meanwhile, 46,975 customers bought Rally wheels for $44. The Rally Sport package attracted 11,364 buyers for $118, in its last year.

Like in 1973, a total of 16 colors were offered for the 1974 Chevy Camaro. They were Antique White, Bright Blue, Midnight Blue, Aqua Blue, Lime Yellow, Bright Green, Medium Dark Green, Cream Beige, Bright Yellow, Lime Gold, Sandstone, Golden Brown, Silver, Bronze, Medium Red Metallic and Medium Red.