There's no doubt that the Oldsmobile Toronado's debut in 1966 was a big splash. It was awarded Motor Trend Magazine's Car of the Year award, and people rushed to Oldsmobile dealer showrooms in droves to see the new car with the flat floors. It's front wheel drive, racy styling, and powerful performance climbing Pike's Peak really made people take notice. The concern for 1967 was how to top all of that. So, Oldsmobile went about making changes to the Toronado it felt would be appreciated by customers, based on feedback from new 1966 owners as well as from automotive critics.

One of the big concerns about the first Toronado was its brakes. Despite having huge drum brakes at all four wheels, the Toro was developing a reputation for having poor brakes. It didn't take too many panic stops to produce intense fade, a concern for any car, but especially concerning for a big, heavy one like the Toronado. For 1967, all Toronados received a new dual master cylinder, which provided separate braking systems for the front and rear brakes. This meant a failure in one system wouldn't affect the other. This was a huge improvement over the single master cylinder of 1966, and provided a degree of safety not known before. For those interested, a new front disc brake option was offered on all Toros at additional charge.

The ride had been noted as being somewhat harsh by some, so Oldsmobile softened things up a bit for 1967 by revising the rear shock absorber rates and spring bushings. Another area of objection was the long, heavy doors which were difficult for some to open and close, and were found to be cumbersome. Olds added door assist springs to help open the doors, hold them in place once opened, and they also assisted in preventing slamming of the doors when closing.

In addition to the front disc brakes, a few other new options joined the line up for 1967, including an AM/FM stereo radio and a stereo tape player system. Under the hood, an Ultra High Voltage Engine Ignition System was said to triple spark plug life, improve starting ease under all conditions, and extend tune-up intervals. The Climatic Combustion Control Engine Air-Induction System provided faster engine warm-up, more stable operation at all temperatures, and improved fuel economy.

Externally, the 1967 Toronado received a new eggcrate grille up front with Toronado script mounted on the driver's side. The hidden headlamp doors were now flush with the nose of the car, which gave it a sleeker appearance. In profile, the Toronado looked the same except that it could now be dressed up with an optional vinyl roof, which was a popular feature on many cars at the time, but one that many feel spoils the good looks of Toronado's fastback design.

Everything was mostly carry over in back, except the taillamps received an eggcrate textured overlay to match the new front grille.

Inside, the Toronado's instrument panel sat cantilevered over the steering column, and featured a black wrinkle finish panel with drum speedometer, which was flanked by other indicators and controls. The lower sections of the panel featured a bright brushed applique.

Standard and Deluxe models were once again available, with the Deluxe being the most popular by far. Upholstery used a biscuit pattern on the seats, and consisted of all vinyl or a combination cloth and vinyl.

Production dropped dramatically for 1967, to just 21,790 cars, of which 20,020 were the Deluxe version and just 1,770 were the Standard version. With a base price of $4,674, the 1967 models were only $89 or so more than before, but the Toronado faced attractive new competition in 1967 with the introduction of the Cadillac Eldorado and a completely restyled Ford Thunderbird, which was selling in near record numbers.

All 1967 Toronados were built in Lansing, Michigan.