The Z432 (model PS30) released in 1969 was the first Fairlady to bear the high-performance "Z" moniker.
This first Fairlady Z was developed based on the following design policy: 1) to chase performance limits with a base configuration capable of competing successfully in races; 2) to create a practical sedan with the same level of comfort as a normal passenger vehicle; 3) to create a mass producible, affordable car with an appropriate weight; 4) to create a vehicle perfectly suited for the Fairlady's main market in the US. A 2-seater closed body was selected from the standpoints of noise, insulation, and comfort.
The name Z432 stood for "4-valve, 3-carburetor, 2-cam". The car was fitted with a de-tuned version of the S20 that had been used in the R380. The car boasted a top speed of 210 km//h and an SS 1/4-mile time of 15.8 seconds.
The model exported to the US had a displacement of 2.4 L, and was therefore named the 240Z in that market.
The S20 engine was characterized as follows:
Excellent intake and thermal efficiency and low weight as a result of its multi spherical combustion chambers, Japan's first V-shaped 4-valve layout, and aluminum cylinder heads equipped with crossflow ports.
Stable spark discharge from low to high speeds with Japan's first full-transistor ignition device.