These were the first Daytona 500 starts for Neil Bonnett, Terry Ryan, Salt Walther, D. K. Ulrich, Roy Smith, Jimmy Lee Capps, Skip Manning, Tighe Scott, Dick May, and Jimmy Means.[6] For Terry Bivins, Johnny Ray, Dr. Dick Skillen, David Hobbs, and Tom Williams, this would be their only Daytona 500 start.[6] Joe Frasson, Jackie Rogers, David Sisco, and Earl Ross would make their last Daytona 500s this year.[6]
Qualifying
USAC stock car racer Ramo Stott won his only career NASCAR pole position.[8] There was a major speed discrepancy between cars in their qualification runs. Top teams were qualifying in the 178 miles per hour (286 km/h) to 179 miles per hour (288 km/h) range and a few teams qualified in the 186 miles per hour (299 km/h) range. Two of the teams who qualified in the 186 miles per hour (299 km/h) range were disqualified after NASCAR inspectors found suspicious extra fuel lines. Some teams attributed these lines to performance-enhancing nitrous oxide.[8] One driver later admitted that he deliberately qualified slower to let the time from "offending" teams stick out.[8]
The opening laps were a battle for the lead between Buddy Baker, Waltrip, and David Pearson. A. J. Foyt rocketed from the rear to lead 68 laps before falling out with engine failure.
An accident on lap 112 involving Johnny Ray and Skip Manning ended Ray's racing career.[9]
Late in the race, Richard Petty and David Pearson were nose-to-tail, two laps ahead of all other competitors. On the final lap, Pearson passed Petty on the backstretch, and Petty attempted to re-pass in turn 3. Petty did not completely clear Pearson and the two cars made contact with each other and the wall, sending them spinning into the infield grass, just yards from the finish line. Petty's car stalled and would not re-fire. Pearson re-started his stricken car and crossed the finish line to win. Petty, with the help of a push-start from his crew, crossed the line for 2nd.