The 1998 incarnation of the Sirion came with two petrol engines (with multi-point fuel injection): a 1.0 litre 3-cylinder with 54bhp (40kW), and a 1.3 litre 4-cylinder 86bhp (64kW) unit (shared with the Toyota Yaris). Both were available with either a 5-speed manual or an automatic gearbox. As of 2001, 1.3L models have 102bhp (76kW) engines capable of accelerating from 0-60 mph in 9.6 seconds and reaching a top speed of 111mph (179km/ h). This engine is very fuel efficient with an average rating of 49.6 mpg[vague] and the 1.0 model averaging 51.4 mpg.

There are two Rally versions of the Sirion: the Rally 2 and the Rally 4; the latter being the four-wheel drive version. The Rally models have a slightly increased engine output of 108bhp (81kW) and boast a class-leading 0-60 time of 8.1 seconds and reaching a top speed of 115mph (185km/ h), giving it 'hot hatch' credibility. The 4Track (or just 4WD in Europe) is the four-wheel drive version of the standard 1.3. The F-Speed model is equipped with Formula-1 style paddle gear changers.