The Mazda 929: A Forgotten Luxury Sedan That Tried to Take on Lexus

In the early 1990s, the luxury car world was shaken up by Toyota’s new Lexus brand and its LS400 sedan. It was quieter, smoother, and more refined than many German rivals, and it cost less. But Toyota wasn’t the only Japanese automaker eyeing the premium market. Back in Hiroshima, Mazda had its own contender: the 929.

It was rear-wheel drive, powered by a silky V6, and wrapped in a design that stood out from the boxy sedans of the era. Yet today, almost no one remembers it.

Mazda had big plans for luxury. Alongside the 929, the company was developing a separate upscale division called Amati, complete with rumors of a rotary-powered halo car. But the Japanese economic bubble burst in 1992, funding dried up, and Amati never launched. The 929, however, was too far along to scrap.

S. showrooms anyway, hoping it could hold its own against the LS400 and German rivals. It couldn’t. Not because the car was bad, it had a dedicated rear-drive platform, independent suspension tuned for comfort, and a cabin with real wood, leather, and even a solar-powered ventilation system in the sunroof.

The problem was brand perception. American buyers saw Mazda as the maker of the Miata and the RX-7, not a luxury sedan. And while the LS400 had its own dealerships and white-glove service, the 929 was sold alongside economy cars at regular Mazda lots.

By 1995, the 929 was quietly replaced by the front-drive Millenia, itself a leftover from the canceled Amati project. Both faded from memory. But in 2025, the 929 is a curious bargain. While a clean LS400 can fetch $15,000 to $25,000, a low-mileage 929 recently sold for under $12,000.

You get a full-size, rear-drive V6 sedan with timeless styling and a serene ride. Parts can be tricky to find, and the solar sunroof system may be a headache. But for someone who values smooth engineering and a story that almost was, the 929 offers a lot of car for the money, without the spotlight.