On February 26, 1978, the Richmond 400 drew a crowd of about 20,000 to the .542-mile Richmond Fairgrounds Raceway for a 400-lap race. Neil Bonnett captured the pole for the 30-car field in the #5 Jim Stacy Armor All Dodge with a speed of 93.382 mph.
Benny Parsons, starting third in the #72 1st National City Travelers Checks Chevrolet, scored the victory by 2.6 seconds over Lennie Pond. Cale Yarborough finished third, followed by Darrell Waltrip and Dick Brooks. Parsons collected $13,200 for the win—his 10th career Grand National/Winston Cup victory. Lennie Pond led 142 laps and was leading when he had a tire go down with 77 laps remaining; Parsons took the lead and led the rest of the way. He averaged 80.304 mph in a race slowed by five cautions for 33 laps.
