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All SLK models are two-seat roadsters with a full power folding steel weatherproof top.

The original SLK 230 Kompressor, with its supercharged 2.3-liter 190-horsepower four-cylinder engine, becomes the base model from now on. It offers the buyer a choice of either a new 6-speed manual gearbox (that replaces the 5-speed manual) or a 5-speed automatic transmission that can be shifted like a manual.

New for 2001 is the SLK 320, which packs a much stronger 3.2-liter V6 engine. This same engine powers the much larger and heavier E 320 sedan and generates 215 horsepower, nearly 15 percent more than the SLK 230's four-cylinder engine.