When Chrysler redesigned the LH-cars in 1998, the Eagle Vision was discontinued. In order to fill the "import-fighter" gap, the Eagle Vision's position, Chrysler brought back the 300 name. Chrysler once stated that if the Eagle brand had not been dropped, the 300M would instead be sold as a redesigned Eagle Vision. Indeed, design images surfaced on the Internet showing a 300M with an Eagle badge on the grille. The 300M was similar in exterior and almost identical in the interior as the Concorde. The 300M also fit the European "5 metre" (16.4 foot) size class for export, unlike the substantially similar, yet larger LHS. It had the same wheelbase as the Dodge Intrepid, Eagle Vision, and pre-2002 Chrysler Concorde, reducing its length by cutting front and rear overhangs.
Only one engine was available, the Chrysler-engineered 3.5 L V6, designed for the LH line and shared with the Plymouth Prowler until its demise in 2002 and a limited edition R/T variant of the Dodge Intrepid. It was not used on another vehicle until the arrival of the Chrysler Pacifica in 2004. For 1999, it was rated at 253horsepower (189kW), and 255pound-feet (346N·m) of torque. It was connected to the 42LE, a four-speed automatic transmission with Autostick, which allowed manual selection of gears. Standard gear ratio on the 300M was 3.66:1. The 300M Special was offered beginning midyear of 2002. This model included imitation-carbon-fiber interior trim panels, replacing the woodgrain trim panels (which come in the standard 300M), 255hp (190kW) 3.5 liter engine on 91+ octane with 258lb·ft (350N·m) of torque, and a 3.89 final drive ratio. Performance dual exhaust, high-intensity discharge headlamps, and 18-inch Z-rated wheels and tires were also standard on the Special. Other standard features of the Special included premium "Waterfall" leather seats, signal mirrors, body cladding, and slightly lower ride height.
The 300M was Motor Trend magazine's Car of the Year for 1999. It also was on Car and Driver magazine's Ten Best list for 1999 and 2000.