At the National Council election of 18 November 1962, Friedrich Peter again stood for the FPÖ. The Freedom Party achieved 7.04 per cent, which constituted a slight reduction of 0.66 percentage points, while its number of seats remained at eight.

The winner of the election was the ÖVP under Federal Chancellor Alfons Gorbach, while the SPÖ led by Bruno Pittermann had to settle for second place.

After Julius Raab had resigned as Federal Chancellor in 1961, Alfons Gorbach became his successor. In his first election, the ÖVP election campaign relied on anti-Communist tones, while the SPÖ warned of an ÖVP single-party government.

On one of its election posters, the Freedom Party posed the question: “Schwarz, Rot, Proporz, Diktatur – wohin?” (“Black, red, Proporz, dictatorship – where to?”) and thus once again criticised the black-red politics of patronage and cronyism.

Also noteworthy was the Freedom Party poster entitled “Mit uns für Europa” (“With us for Europe”), for well into the 1980s, the FPÖ was the only party calling for accession to the European Economic Community, whilst the ÖVP and SPÖ were implacably opposed.

The following parties and electoral lists stood for election at the National Council election of 1962:

Österreichische Volkspartei (ÖVP)
Sozialistische Partei Österreichs (SPÖ)
Freiheitliche Partei Österreichs (FPÖ)
Kommunisten und Linkssozialisten (KLS)
Europäische Föderalistische Partei Österreichs (EFP)

The “Grand Coalition” between the ÖVP and SPÖ was continued. The Freedom Party remained the only opposition force in National Council.