Mazda's compact hatchback, the 323, got new taillights for the 1992 model year. Other than that, it saw no changes from the previous year.

The 1992 323 was available in as the base and SE trims. Upgrading to the SE got cloth (instead of vinyl) upholstery, tinted glass, and an upgraded interior design. Both shared the same engine, a 1.6-liter, 82-horsepower, four-cylinder. A five-speed manual transmission was standard, with a four-speed automatic available as an option. Fuel economy is about 29/37.

1992 Mazda 323 owners like the car because it is inexpensive, gets good mileage, and has a good amount of pep for such a small engine. Many drivers complain that they are ugly, lack many amenities, and sit a little too high up.