Production of the third-generation MX-5, code NC, began May 17, 2005, for delivery in August, for the 2006 model year.
The exterior styling resembles the original design while adopting a clean, more muscular profile and some design elements to reinforce the family ties with the Mazda RX-8. Unlike the update from NA to NB, which was mostly a nose/tail/interior change, the NC shares no components with the NB, except for the side-panel turning-lights on European-spec models.
The suspension has changed from a 4-wheel double wishbone setup to a front wishbone/rear multilink setup. Technologies like traction control and stability control were added to increase driveability.
For Australia and the USA, the engine is the new 16-valve, 2.0-litre MZR I4, producing 170 hp (128 kW) and 140 ft·lbf (190 N·m), coupled to either a 5-speed or a 6-speed manual transmission. A limited slip differential is available with the 6-speed option. For Europe, two engines are offered: the same 2.0 MZR, but rated at 160 hp (118 kW) and 188 N·m, coupled to the 6-speed manual transmission; and a new 1.8 MZR, rated at 126 hp (93 kW) and 167 N·m, coupled to the 5-speed manual transmission.
A six-speed automatic transmission, with steering wheel mounted paddle shifters, is optional. A test by Car and Driver magazine revealed a 0-97 km/h (0-60 mph) time of 6.5 s for the 2.0-litre U.S.-spec NC.[5] Manufacturer figures for the European-spec model are: 0-100 km/h (0-62 mph) in 9.4 s (1.8-litre) and 7.9 s (2.0-litre). The NC was launched with a special edition called "3rd Generation Limited" which featured added chrome accents and special wheels. 3500 were built worldwide (300 in the UK, 750 in the USA), delivered in advance of standard models.
The NC offers a wider range of accessories for customization than the earlier generations. The soft-top, in cloth instead of vinyl, can now be chosen in more than two colors: black and cream as previously, but also grey, camel, blue and green; and the interior can be customized to the exterior paint color.
In July 2006, Mazda unveiled a coupé convertible version of the NC with a three-piece folding hardtop, named "MX-5 Roadster Coupe" in Europe, "Roadster Power Retractable Hard Top" in Japan, and "MX-5 Miata Power Retractable Hard Top" in the USA. Adding 36 kg (79 lb) to the weight of a comparable model with soft top, the hard top takes 12 seconds to raise or lower; in a departure from the competition, it does not take any of the existing trunk space when folded down.
The first units were delivered to customers in late August, for a price premium less than the cost of a separate hard top. Performance times are slightly affected with the weight increase, to 9.6 s (1.8) and 8.2 s (2.0) from 0-100 km/h (0-62 mph), but top speed is increased from 196 km/h to 200 km/h (1.8) and from 210 km/h to 215 km/h (2.0), for the European-spec model.