The Dodge Challenger Concept was unveiled at the 2006 Detroit Motor Show and was a preview for the 3rd generation Dodge Challenger that started its production in 2008. Many design cues of the Dodge Challenger Concept were adapted from the 1970 Dodge Challenger R/T.
On December 3, 2007, Chrysler started taking deposits for the third-generation Dodge Challenger which debuted on February 6, 2008, simultaneously at the Chicago Auto Show and Philadelphia International Auto Show. Listing at US$40,095, the new version was a 2-door coupe which shared common design elements with the first generation Challenger, despite being significantly longer and taller. The LC chassis is a modified (shortened wheelbase) version of the LX platform that underpins the 2006–Current Dodge Charger, 2005–2008 Dodge Magnum, and the 2005–Current Chrysler 300. The LX was developed in America from the previous Chrysler LH platform, which had been designed to allow it to be easily upgraded to rear and all-wheel drive. Many Mercedes components were incorporated, including the Mercedes-Benz W220 S-class control arm front suspension, the Mercedes-Benz W210 E-Class 5-link rear suspension, the W5A580 5-speed automatic, the rear differential, and the ESP system. All (7119) 2008 models were SRT8s and equipped with the 6.1 L (370 cu in) Hemi and a 5-speed AutoStick automatic transmission. The entire 2008 U.S. run of 6,400 cars were pre-sold (many of which for above MSRP), and production commenced on May 8, 2008; Chrysler Canada offered a further 670+ SRTs uniquely badged as the Challenger 500 (paying homage to Charger and Coronet 500s) all of which were shipped to Canadian Dodge dealers. Chrysler of Mexico offered only 100 SRT8s, with a 6.1 liter V8 and 425 brake horsepower (317 kW) (SAE). Chrysler auctioned off two 2008 SRT8s for charity with the first car going for $400,000 and a "B5" Blue No.43 car fetching a winning bid of $228,143.43.