For 1992, the Volkswagen Cabriolet was powered by a 1.8-liter, 4-cylinder engine that generated 94 hp. It was linked to a five-speed manual overdrive transmission, which was standard; a three-speed automatic was available as an option.

New for 1992 were three-point seat belts added to the back seat, and full wheel covers for the Base (Standard) model. Other standard features included a driver's-side front airbag, power steering, power brakes, power windows, and an AM/FM/cassette player. Air conditioning was available as an option for the Base model as well as for the other trim packages, the Carat and the new Wolfsburg Classic Convertible.

Drivers note that the Cabriolet handles the road well, and that with routine maintenance the car can have a long life. One driver was enamored with the car's styling, particularly with the top down. The collectible aspect of the car has also been noted by a number of drivers.