The first generation Nissan 350Z hit dealer showrooms in 2003 as a rear-wheel drive sports car. It was a two door hatchback coupe that seated two passengers. The 350Z was built on the same frame as the Infiniti G35. Infiniti is a division of Nissan. The 350Z was powered by a 287 horsepower 3.5 Liter V6 engine. The standard transmission for the vehicle was a six-speed manual transmission but there was an option for a five-speed automatic transmission. The vehicle came in five versions -entry level, Enthusiast, Performance, Touring, and Track. The entry level, Performance, and Track models were equipped with the manual transmission and all except the entry level were equipped with Traction control. A system to make sure that the vehicle does not skid was available on the Performance, Touring, and Track versions.

In 2004, a convertible which could seat twp passengers joined the lineup. The convertible was only offered with the Enthusiast and Touring versions. The convertible was equipped with a cloth top that was powered and had a back window made of glass that was heated. Also added on the convertible were a rigid tonneau cover and a deflector to keep the wind out. All versions of the 350Z had the same suspension settings. Airbags that protected the passenger's body on the side now became standard equipment for the Touring convertible version. This airbag was optional on all the other versions. Now optional with the touring version was satellite radio. In 2005, no major changes were made to the 350Z. Nissan added a system to monitor pressure in all its tires, heated mirrors and the driver's seat could be now manually adjusted according to the driver's height. In 2006, a Grand Touring version made its debut. It was available in both a coupe and convertible version. The horsepower ratings of all engines equipped with manual transmission models was increased to 300. The interior was redone and all its gauges and climate control buttons were restyled and taillights made of LED were installed. 18 inch tires were now installed on the entry level, Enthusiast, and Touring versions, while 19 inch tires were now installed on the Track and Grand Touring coupe versions. In 2007 all 350Z models got a 306 horsepower 3.5 Liter V6 engine.