The first generation Premacy was a 2 or 3-row, 5 or 7-passenger vehicle, while the second generation adds a third row of seats for up to 6 passengers in American form, and 7 passengers outside the United States. Both generations were true vans with near-flat floors, folding or removable 2nd row, and fold-flat rear seats.

When released in 1999, the Mazda Premacy was one of the cheapest 7-seaters available on market. The 1999 Premacy used Mazda's CP platform. It was available with either front or all wheel drive and was equipped with 4-speed automatic transmission. As the Premacy was based on a sedan platform, it was less modular than some if its adversaries such as the Opel Zafira and Toyota Ipsum and was therefore relatively easy to maneuver. The second and third row seats could be folded and removed as on many other minivans.

This generation Premacy was also sold in some Asian markets as the Ford Ixion.

The first generation Premacy is still manufactured by China's FAW Haima Automobile Co., Ltd. where it is called the Haima Freema.