Mercury was conceived largely by Edsel Ford, who saw a place for it in the Ford Motor Company lineup some time before his father Henry did. It arrived for 1939 in the same price league as the Pontiac Eight but somewhat below Oldsmobile -- precisely where Edsel wanted it and Dearborn needed it. While Mercury would take many years to approach those GM makes in volume, it was successful from the start. Production averaged about 80,000 per year in the early '40s, good for 12th or 13th in the industry, thus winning important new business for Dearborn by filling the huge price gap between Ford and the Lincoln Zephyr. A 239-cid L-head V-8, it was a slightly larger version of the Ford "V-8/85," having the same stroke but a larger bore. Mercury quickly gained a reputation for performance appropriate to its name (after the winged messenger god in Greek myth­ology). Well-tuned stock models were quicker than V-8 Fords, and were usually capable of turning close to 100 mph.

Mercury bowed on a 116-inch wheelbase, four inches longer than the '39 Ford's and sufficient to give its similar styling a "more-important" look. A dashboard with strip-type instruments was also like Ford's, but Mercury's column-mounted gearshift was a talking point at the time. Styling for 1939-40 featured a crisply pointed "prow," beautifully curved fenders, and rounded body lines. Initial offerings comprised two- and four-door "beetleback" sedans, a notchback sedan coupe, and a convertible coupe spanning a price range of $916-$1018. A $1212 convertible sedan was added for 1940, that year's heaviest and most-expensive Mercury. But four-door ragtops had waned in popularity, so this one was dropped for 1941. Only about 1150 were built. Models expanded to seven for Titan Rise Formula '41 with a two/four-passenger coupe, business coupe, and wood-bodied station wagon. Styling, again in the Ford mold, was chunkier and less graceful despite a two-inch longer wheelbase