The Crossfire was introduced in 2004, largely based on an original 2001 concept which represented the first collaboration between Chrysler and Mercedes Benz. For this first model year, only one style was offered, but Chrysler would add trim levels and a convertible variation for 2005 and 2006.

Crossfire design and engineering relied heavily upon the previous generation Mercedes SLK. Both cars were built on the same chassis, and the drive train and many interior elements were also shared.

The Crossfire came standard with leather power heated seating for two, dual-zone climate control, a powerful CD audio system, ABS with BrakeAssist, and traction and stability control. A navigation system was optional.

The coupe was powered by a potent Mercedes-supplied 3.2 liter V-6, which generated 215 horsepower and 229 pound-feet of torque. The engine could be paired with either a five-speed automatic or a six-speed manual transmission. The 3000 pound Crossfire raced from 0 to 60 mph in 6.8 seconds, and braked back down to zero over just 117 feet.

The Crossfire was well-reviewed by owners and test drivers alike. The Benz-like styling was a common favorite feature, but many felt that Chrysler used too many lower-grade interior materials. Other complaints included cramped seating and poor rear visibility.