The Mercury Park Lane was introduced for the 1958 model year as a premium model line for the division. Available in two-door and four-door hardtop and two-door convertibles, the Park Lane offered the same body styles as the Turnpike Cruiser, though its distinctive "breezeway" rear window was adopted by the Continental Mark line.
Sharing its chassis with the Colony Park station wagon (and Edsel Citation/Corsair), the Park Lane had a 125-inch wheelbase (3 inches longer than the standard Mercury chassis). In 1959, the Park Lane wheelbase was stretched to 128 inches (2 inches longer than other Mercurys). For 1960, the Park Lane wheelbase was again changed, matching the 126 inches of the standard Mercury line.
The Park Lane was powered by a single engine: a 430 cubic-inch Ford MEL V8. Initially rated at 360 hp for 1958, the Super Marauder engine option package allowed any Mercury with the 430 to increase its output to 400 hp (the first mass-production engine in an American automobile to be rated at 400 hp). For 1959, the Super Marauder was discontinued, with the standard engine rated at 345 hp, retuned to 310 hp in 1960. All Park Lanes were equipped with a 3-speed Merc-O-Matic automatic transmission.
For 1960, the Park Lane saw a minor styling update distinguished by new taillamps, rear fender skirts, 5 chrome accent bars ahead of the rear wheel openings, wide rocker panel moldings, and the addition of a padded dashboard.
In 1961, the Park Lane name was dropped (along with the Montclair) as the division reorganized its marketing efforts towards the better-selling Monterey alongside the introduction of the Mercury Comet compact.