For 1992, Mercedes-Benz expanded its 500-Class to include two new sedans, the 500E and the 500SEL, in addition to the 500SL roadster. While the SL was virtually unchanged from previous years, its 5.0-liter, 322-hp V8 engine was transplanted to the two new sedans, creating a powerful and more functional lineup.

The 500E had a wheelbase of 110.2 inches, while the SEL stretched that out to 123.6 inches, giving drivers a number of options in the model line. Naturally, there was no skimping on luxury options for any of the 500-Class cars. Standard features across the line included leather seats, power windows, power door locks, anti-lock brakes, and airbags for the driver and passenger. Other features included cruise control, an anti-theft alarm system, 16-inch wheels, rear window defroster, traction control, intermittent windshield wipers, automatic climate control, and headlight cleaners.

In addition, the 500E and 500SEL both included a self-leveling suspension, while the 500E had a power rear seat and the 500SEL had a power rear sunshade and special factory paint.