All Gremlins received a new body-colored front fascia treatment for 1972. Among many other changes was an available V8 engine. It was "the muscle car formula of stuffing a big motor in a small car." Engine ratings were downgraded to more accurate Society of Automotive Engineers (SAE) net hp figures, bringing the engine to , the to and the 304 V8 to . Even with the lower engine output ratings across the industry, "the V8 Gremlin was a poor-man's Corvette, able to spin its rear tires at will and outrun some larger, more expensive pony cars" and it was "the only real performance car available under $2,200."