Sharing its platform with the Dodge Magnum wagon and the Dodge Charger sedan, the 2006 Chrysler 300 is a sedan that is leaning towards the luxury level. It is offered in four trim levels which comprise of the base, the Touring, the 300C and the 300C SRT8. The base and the Touring trim levels hold V6 engines. The other two hold V8s. The 5.7 V8 engine which is owned by the 300C has the Chrysler's Multi-Displacement System. This system functions to deactivate four cylinders under cruise conditions so as to save on fuel.

What is standard for the 2006 Chrysler 300 sedan is luxury. It comes with a totally luxurious passenger room that is more than spacious. The interior holds well-appointed and designed features like satin silver accents along with an elegant analog clock. It exudes refinement and sophistication. The accents are made of genuine California walnut or the available industry-first tortoise shell-style accents. These accents are found on the vehicle's power tilt and telescope steering wheels, shift knob, and its front and rear door pull handles.

The 2006 Chrysler 300 has already received awards in its lifespan. This sedan was included in the Car and Driver magazine's 10 best cars for 2006 for the full size sedan category where 71 vehicles were nominated. Consumer Guide also awarded the 2006 Chrysler 300 as its choice for Best Buy for 2006. This award is given to vehicles as recognition for their perfect balance attributes within its own class, along with power, and fuel efficiency, as well as distinctive styling all in one vehicle. As per last year, this vehicle was also named as the North American Car of the Year as well as the Automobile magazine's Automobile of the year. Edmunds.com recognized the Chrysler 300's vibrant and high performance characteristics so much so that it decided to award the sedan as the most significant new vehicle for 2005.

The same company also included the vehicle in its Top 10 Hippest for 2005 list. The highest government front crash test rating, which is five stars, was also given to the Chrysler 300. Aside from those mentioned, the Chrysler 300 has also bagged in the following awards: Smart Money's Best Full Size Sedan (June 2004), Money Magazine's Best Large Car (2005), Maxim Magazine's Car of the Year (2005), African Americans on Wheels' Urban Wheel Awards Car of the Year, Chief Executive's Top 10 Cars for CEOs, Automotive Rhythms' Urban Elite Car of the Year, Automotive Fleet's Fleet Car of the Year (2005), Road and Travel magazine's 2005 International Car of the Year, Advertising Age's 10 Hottest Cars (2004), Detroit Free Press' Car of the Year (2005) and the Detroit News' Car of the Year (2005).