Project Muscle Car: 1972 Dodge Charger Rallye

“Is this too good to be true?” I thought to myself while searching through local online classified listings—a ritual I perform over coffee each morning.

Since starting this site, I’ve searched for an affordable old-school muscle car to fix up, take to car shows, drive around, and run some quarter-mile passes.

Along the way, I would document the journey in a series of articles and videos. Ultimately, I want to help inspire the next generation of muscle car caretakers with this project.

That day finally arrived in late October when I discovered a new listing for a…

1972 Dodge Charger Rallye

The listing had four photos of the exterior and a scant 25 words in the description. Aside from a basic spec chart, that’s it. Not much to go on, but it was enough to pique my interest.

Here’s what the classified listing stated:

1972 Dodge Charger Rallye 340 Mag motor. motor was overhauled at 88,000. Motor runs great. matching numbers on car and I have the build sheet.

These were the photos that accompanied the listing…

All of the photos in the listing were of the exterior. Three of them were current, while the fourth was from the early 1980s.

Before we get too far, I want to explain a 1972 Dodge Charger Rallye and how it differed from a base model Charger.

What is a Dodge Charger Rallye?

In 1972, Dodge consolidated three lines, including the R/T, Super Bee, and 500. The new name became “Rallye” — even though it is never mentioned anywhere on the vehicle.

My new project muscle car is 1 of 4,351 Charger Rallyes produced in 1972 and 1 of 1,527 with a 340 Magnum.

Dodge’s Rallye package was an upgrade to the base model Charger that unlocked a host of cosmetic and suspension components. It was available from 1972 to 1974 and was a stand out amongst all other 1972 muscle cars.

In addition, starting in 1972, the Rallye package was the only way you could unlock the 340 CID V8 engine option from the factory.

Here’s what was included when the Rallye Package (Code 57 Combination Group) was selected:

• Bulge hood with engine callout emblems
• Rallye front grille
• Rallye rear taillights bezels
• Blacked-out grille, hood, and rear end
• Simulated door louvers (5 on each door)
• Hooded circular gauges (Rallye gauges)
• Simulated wood-grained instrument panel
• Wide tread whitewalls
• Front and rear sway bars

How I Acquired Our Project Muscle Car

Before I made an appointment to see the vehicle, I asked if he could send me additional photos of the interior and engine compartment. After seeing these, I knew I had to go check it out.

Here’s what I received that helped push me over the edge:

Upon seeing it in person, I must say the listing and additional photos certainly didn’t do this car justice. It was in better condition and more complete than what I found in the listing.

A rarity, to say the least.

I spent an hour asking questions and combing through the car to check for rust, see what was missing, etc. Thankfully, it was all there. Keep reading for the good and the not-so-good.

At this time, he made it known he was firm on his high asking price so I didn’t make an offer and thanked him for his time.

We were too far apart, and I didn’t want to rush a deal. I figured I would let it go for a few days and cross my fingers that no one would buy it.

Interestingly, I received a text from him a few days later. He was wondering what my offer was, stating I never gave him my number.

“Finally! This deal may just happen yet,” I thought to myself.

I figured he was getting lowball offers and realizing his asking price was too high.

While I can’t blame a guy for trying, I wasn’t going to be the one to pay it. So, my offer was 43% off his asking price.

Just as quickly as he reached out to me asking for my offer, he disappeared again just as quickly once I made it. He was in the wind.

“Well, crap, maybe this deal isn’t going to happen after all,” I muttered.

Before going to check out the car, I used the Hagerty Insider App to help determine value, although their information was woefully incomplete for this year and model.

The Hagerty Insider App didn’t provide values for a Rallye or a 340. So, I used values on the 318 base model knowing the Rallye with a 340 was going to be more valuable.

A couple of days later, he reached out again and countered with 30% off his asking price. We were finally closer to making a deal.

We agreed to meet one last time. However, this time, I didn’t go alone.

I saddled up with my friend Mark who reads Mopar fender tags and VINs like metal versions of “See Spot Run.” I didn’t want to go without him.

Mark is also a long-time collector of Mopars and knows more about the subject than anyone I know. He has purchased, restored, and sold more Mopars than I can count.

He was the perfect wingman for this adventure.

After I turned him loose on the vehicle for an hour, crawling inside and out while asking dozens of questions, we discussed the pros and cons. Ultimately, he gave me his thumbs up.

I offered 40% off the asking price and stated that was the highest I was willing to go. This was 3% more than my first offer. However, I came up a bit to close the deal.

He asked for the night to think about it. The next morning, he called and asked when I could come to pick it up. Within an hour, I returned with Mark and his son in tow.

While there, I laid eyes on the original broadcast sheet and a folder an inch thick of service records dating back to 1981 and asked more questions about the vehicle.

I paid the previous owner, he signed over the title, provided me all the paperwork—including the broadcast sheet—and the deal was done.

With keys in hand, I drove it to the nearest gas station and safely made the journey home, just 21 miles away. It was a smooth ride with no issues or concerns.

Project Muscle Car Details

Our project muscle car is powered by the elusive 340 CID V8—available only in the Rallye models—and is backed by a 727 Torqueflight automatic transmission.

In terms of options, it’s equipped with air conditioning, bucket seats, power brakes, power steering, a vinyl top car, and a column shifter.

It’s the perfect blend of style, comfort, and performance.

Let’s look at the good and the not-so-good of this car, shall we?

The Good

• Numbers matching engine, transmission, and rear end
• Factory broadcast sheet
• Air conditioning is intact
• Original intake is intact
• Engine and transmission were rebuilt at 88,000 miles
• Minimal rust in lower quarter panels
• Front and rear bumpers are original and straight
• Buldge hood is solid and straight
• Louvered doors are solid and straight
• Front Rallye grille is complete with no cracks
• Rear Rallye taillight bezels and lenses are complete with no cracks
• Factory exhaust manifolds are intact
• All stainless vinyl top trim is complete and straight
• All four stainless wheel well moldings are present and straight
• New carpet was installed
• Replacement Carter 625 CFM carburetor was rebuilt
• The original jack and stand are both present
• A 15″ Rallye wheel with a white wall tire is in the trunk
• Front and rear door panels are in excellent condition
• The rear seat looks nearly new
• Receipts for all service and repairs since 1981

The Not So Good

• Minor rust holes in driver and passenger side lower quarter panels
• Transmission leaks (excessively)
• Air conditioning doesn’t work (hopefully just needs freon)
• The entire car was painted black and needs to be stripped
• The original Carter 6139S/VLBJRW Themoquad carb is missing
• Dash pad is cracked in several places
• Dash bezel is modified for an aftermarket stereo
• Kick panels were modified for speakers
• The headliner is coming apart at one seam
• Front bucket seats are worn and need to be reupholstered
• The exhaust pipes are rusting and need to be replaced
• All four tires are mismatched
• Centerline style wheels
• Lug nuts are the wrong type (and dangerous!)
• The factory air cleaner is missing
• Original wheels are missing
• The original AM radio is missing
• Rear driver-side quarter panel has minor damage
• The front windshield is cracked
• Correct oil with zinc additive probably wasn’t used since the rebuild

All things considered, its a solid car with all the major drivetrain and Rallye pieces intact and present—which will save us thousands of dollars and dozens of hours worth of time locating.

At a Glance

• 1972 Dodge Charger Rallye (Hardtop)
• Lynch Road Assembly Plant
• Bright Red (FE5)
• Black Vinyl Roof (V1X)
• 340 Magnum V8 (E55)
• 240 HP (SAE net) @ 4,800 RPM
• 290 lb-ft of Torque @ 3,600 RPM
• Torqueflite 727 Automatic Transmission (D23)
• 8 3/4″ Rear End
• 3.23 Gears
• Black Vinyl Interior
• Bucket Seats
• Column Shifter
• Air Conditioning
• AM Radio
• Power-Assisted Brakes
• Front Disc Brakes
• Rear Drum Brakes
• Dual Exhaust (Valance Cutouts)
• Road Wheels

Fortunately, the listing ended up being completely understated, and I could get a vehicle in better condition than I expected and get it for a fair price.

I’m thrilled I purchased this complete and solid 1972 Dodge Charger Rallye!

What’s next for my project muscle car?

I’m going to start slowly and easily and focus on making it a reliable and safe driver.

First, I will go through the brakes, given the peddle is soft. Next, I’ll move on wheels and tires, and then I’ll address the transmission leak.

Once that’s all done, I’ll reassess and go from there.

Well, there you have all the details on my new project Muscle Car—a 1972 Dodge Charger Rallye 340. Be sure to subscribe if you like articles like this!

Ryan Wheaton

Ryan has owned muscle cars since 1986 and currently owns a 1972 Dodge Charger Rallye. He combines passion and experience to create engaging content for fellow muscle car enthusiasts. In 2018, he founded Muscle Cars Illustrated, authoring hundreds of articles on tips, history, and trends in the muscle car industry. He attends national car shows, auctions, and museums to stay current with the latest developments in the muscle car industry.

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