Chevrolet was hit by a two-month strike in the fall of 1970 and the Norwood, Ohio plant where the Camaro was built was badly affected. As a result, sales fell to 114,630 units, most of which (103,452) were V-8 models. The number of six-cylinder cars also dropped to 11,178. The six-cylinder base car cost $2,758, while the V-8 listed for $2,848.

Horsepower ratings changed from gross to net, but compression was reduced in preparation for lead-free fuel, so there was a real loss as well. For example the 396 cid (402 really) big-block Chevy V-8 was only available with 300 bhp, down from 350 or 375 in 1970, but the net figure was 260 bhp, which sounded even worse. The 250 cid six-cylinder dropped to 145 bhp and the 307 cid V-8 stayed at 200 bhp, but the 350 cid V-8 dropped to 245 bhp, while the Z/28 350 dropped to 330 bhp. A new 400 cubic-inch small-block V-8 was cancelled for the 1971 Camaro.

There were few visible changes from 1970. These included wheel covers, high-back bucket seats (from the new Vega) and soft interior surfaces. 12 new colors were added and vinyl roof choices went from three colors to five. The muscle car connection was fading away as more luxury options were ordered.

For example, 77,541 customers spent $216.50 on the Turbo-Hydramatic automatic transmission, 67,250 buyers paid $40.05 for soft ray tinted glass, 38,329 ordered a vinyl top, 72,656 asked for a console, 42,537 ordered $402.35 air conditioning, 93,163 spent $110.60 for power steering and 41,630 bought power brakes. For the sake of appearance, 38,161 bought the Style Trim Group for $57.95, 32,411 purchased the Interior Accent Group, 11,643 got the Custom Interior for $115.90 and 6,489 spent $79 for front and rear spoilers.

At the performance end of the scale, while 54,663 customers bought the base 307 cid V-8, 1,533 buyers stepped up for the 300 bhp 396 cid V-8 and 34,017 ordered the 245 bhp 350 cid engine. The Super Sport package found 8,377 buyers, who got a 270 bhp 350 V-8 for $313.90, while 4,862 Z/28 customers spent $786.75 for the 330 bhp 350 V-8. Separate from these packages, 10,975 buyers bought the F41 heavy duty suspension and 11,753 went for Positraction.

Despite the notable drop in performance, Road & Track chose the Camaro SS one of the world’s 10 best cars in the August 1971 issue.

The 15 colors available for the 1971 Chevrolet Camaro were Antique White, Nevada Silver, Tuxedo Black, Ascot Blue, Mulsanne Blue, Cottonwood Green, Lime Green, Antique Green, Sunflower Yellow, Placer Gold, Sandalwood, Burnt Orange, Classic Copper, Cranberry red and Rosewood.