The Monterey, like the Marquis, was just restyled for 1973. It was the low end fullsize car in the Mercury lineup. Two trims were offered, base and Custom.
Available bodies were 2-door hardtop, 4-door post, or a station wagon. Engines for 1973 were a 351 CID 2bbl V8 as the base powerplant, which made 159hp. Monterey Custom got a 400 CID 2bbl making 168hp. Optionally, a 429 CID 4bbl V8 or 460 CID 4bbl V8 were available.
Engine offerings were trimmed back for 1974 with just the 400 (170hp) and 460 (275hp) V8s offered. The final year for the Monterey was 1974, as for 1975 the Marquis took over the low-end slot, leaving the new Grand Marquis as the top end model.