The SRT4 model that was introduced at the Chicago Auto Show in February 2006, was a replacement for the original Neon-based SRT-4 produced by Chrysler's Street and Racing Technology group.
It was a hatchback set to compete with the Volkswagen GTI and the Mazdaspeed3. It featured a 2.4 L DOHC 16V turbocharged I4 with dual variable valve timing (DVVT). The engine produces 285 hp (213 kW) at 6,400 rpm, and 265 lb·ft (359 N·m) of torque at 5,600 rpm using the Mitsubishi TD04HL4S-20 turbo. Edmunds.com tested a Caliber SRT4 on a chassis dynamometer and obtained 281 hp (210 kW) and 261 lb·ft (354 N·m) of torque at the wheels. Edmunds called the manufacturer's rating conservative; putting more power to the road than cars costing twice as much. This engine is mated to a Getrag six-speed manual transmission, and utilizes a front-wheel drive drivetrain. The Caliber SRT4 utilizes a MacPherson strut front suspension, and a multilink rear suspension. The SRT4 came with large 13.4 in (34 cm) vented front disc brakes (from the Dodge Charger Police Pack version) with dual-piston calipers and 11.9 in (30 cm) rear single-piston disc brakes. It also featured four-wheel ABS, with electronic assistance. The wheels are 19 in (48 cm), five-spoke, SRT-stamped, painted aluminum and equipped with Goodyear RSA 225/45R19 tires. Package options included polished aluminum wheels, Goodyear Eagle F1 Supercar tires, SIRIUS satellite radio with Kicker SRT livin' loud audio, EVIC with performance pages, security alarm, and optional paint colors.
The SRT4 model of the Caliber was available through 2009.