Mercury introduced the third generation of the Monterey for the 1957 model year. The third generation Monterey was a range of full size sedans, coupes, and convertibles available with a range of four V8 engine options. For the third generation of produciton, the Monterey was Mercury's lowest priced model. Production of the third generation Monterey ended in 1958, with the model being replaced by the Fourth Generation Mercury Monterey.