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The 1972–1973 model years consisted of the same models of 911— the entry level T, the midrange E and the top of the line S.

However, all models got a new, larger 2,341 cc (2.341 L; 142.9 cu in) engine. This is universally known as the "2.4L" engine, despite its displacement being closer to 2.3 litres— perhaps to emphasize the increase over the 2.2 L. The new power ratings were 130 hp (97 kW), or 140 hp (104 kW) in the U.S., for the T, 165 hp (123 kW) for the E and 190 hp (142 kW) for the S.

The 911E and 911S used mechanical fuel injection (MFI) in all markets. The 911T was carbureted, except in the US where it also used MFI, which accounts for the 7 kW (9 hp) power difference between the two. In January, 1973, US 911Ts were switched to the new K-Jetronic CIS (Continuous Fuel Injection) system from Bosch. These CIS-powered cars are usually referred to as "1973.5" models by enthusiasts.

With the power and torque increases, the 2.4 L cars also got a newer, stronger transmission, identified by its Porsche type number 915. Derived from the transmission in the Porsche 908 race car, the 915 did away with the 901/911 transmission's "dog-leg" style first gear arrangement, opting for a traditional H pattern with first gear up to the left, second gear underneath first, etc. Some say this was because the dog-leg shift to second gear was inconvenient for city driving, other say it was due to Porsche’s desire to put 5th gear outside the main transmission housing where it could easily be changed for different races. The Sportomatic transmission was still available but only as a special order.

In 1972 a tremendous effort was made to improve the handling of the 911. Due to the 911's unusual engine placement (rear-mounted, with most of the vehicle's weight concentrated over the rear axle) early 911's were prone to oversteer when driven at the limit, and could easily spin in the hands of an inexperienced driver. In an attempt to remedy this, Porsche relocated the oil tank from its position behind the right rear wheel to in front of it. This had the effect of moving the weight of almost 8.5 l (9 US quarts) of oil from outside the wheelbase to inside, improving weight distribution and thus, handling. To facilitate filling of the oil tank, Porsche installed an oil filler door (much like the fuel filler door on the left front fender) on the right rear quarter panel. Unfortunately, this unique design was scrapped after only one year, some say because inattentive gas station attendants were putting gas in the oil tank. The oil tank was subsequently moved back to its original position for model year 1973, and remained there until it was moved back within the wheelbase for the 964 models.

911S models also gained a discreet spoiler under the front bumper to improve high-speed stability. With the car's weight only 1050 kg (2315 lb), these are often regarded as the best classic mainstream 911s. For racing at this time, the 911 ST was produced in limited numbers (the production run for the ST only lasted from 1970 to 1971.) The cars were available with engines of either 2466 cc or 2492 cc, producing 270 PS (199 kW) at 8000 rpm. Weight was down to 960 kg (2166 lb). The cars had success at the Daytona 6 Hours, the Sebring 12 Hours, the 1000 km Nürburgring and the Targa Florio.

Porsche's 911E model of 1969-1973 essentially replaced the short-lived 911L (Luxus). The 911E was designed to be the more comfortable, more drivable model of 911 – fitting between the tamer 911T (Touring) and the high-performance type 911S (Super). In these years, the least-expensive model in Porsche's range was comprised of the 912, followed by the type 914.

Einspritzung
The 911E's designation derives from the German word for injection: einspritzung. The mechanical fuelinjection "MFI" system used on the 911E (and 911S) was jointly-developed by Bosch and Porsche. It is similar to the injection system used in the Carrera 6 of 1966. In addition to more precise control of the fuel-air mixture and equality of distribution among the cylinders (compared to carburetors), the MFI contributed toward meeting the nascent emissions control regulations of the time. The 1969 types 911E and 911S also featured a new high-voltage capacitor ignition system that addressed the spark plug fouling problems experienced in earlier 911s.

Hydropneumatic Struts
Another signature feature of the 911E is the self-adjusting hydropneumatic front suspension struts. Developed by Boge, the struts combined the functions of springs, shock absorbers, and antiroll bars – while also automatically adjusting the height of the front of the car to compensate for weight in the trunk.

These struts were standard equipment on 911E models from 1969 through 1971. This innovative design may have been a little too clever, as 911E owners have almost universally swapped these struts out for traditional struts and torsion bars.

Intended as the luxury model, the 911E came standard (in most markets) with the "comfort" package of features: including ventilated brake discs with aluminum calipers, velour carpeting, a leather-covered steering wheel, heavy bumper rub strips and rubber guard inserts, chrome rocker-panel trim, and gold-colored script on the rear deck.

911E Production: 

Long-time supplier Karmann GmbH built Coupe bodies for Porsche until the factory expansion was fully functional and Porsche was finally able to produce enough Targas and Coupes to meet demand.