The D5 did not differ particularly from its predecessor, continuing to use the same 218 cu in (3.6 L) 87 hp (65 kW) flathead straight-six engine, single-disc dry-plate clutch, and three-speed manual transmission. A vacuum-operated semi-automatic system was an available option. The body was lightly facelifted, with a modified split grille, larger headlamps, and with the horns moved behind the grille rather than being mounted conspicuously on the fender aprons. A chrome strip continued the length of the car. On the inside, the dashboard had recessed knobs and flush-fitting gauges, as well as safety padding on the front seatbacks and "no-snag" interior door handles. The hypoid rear axle was also new and meant a lower transmission tunnel as well as a flat floor at the rear of the car.

Most D5's sat on the shorter 115-inch (2,921 mm) wheelbase (one inch shorter than in 1936); only the seven-seater Limousine, five-seater Pullman-Limousine, the five-seater Victoria-Convertible models, and the naked chassis used the longer 132-inch (3,353 mm) version. The standard bodyworks were two- and four-door sedans, available as "Fastbacks" or "Touring" sedans, with Touring versions receiving an enclosed luggage compartment. There were two 2-door coupes, the two-seater "Business Coupe" and the "Rumble-Seat Coupe," which had two inside seats and two more in the rumble seat. Convertible versions included the 2-door "Convertible Coupe" and the 4-door "Convertible Sedan."

In October 1937, the D5 was replaced by the Series D8, while the Junior line models (for export and the Canadian market) were badged D9 and D10 for 1938. 295,047 Dodge D5s were built in the calendar year.