The new swift was introduced in 2000, replacing the old Suzuki Cultus models that were sold abroad under the Swift label until 2000. Outside Japan, the Swift is widely known under the name Suzuki Ignis.

This 3 or 5 door hatchback was powered by a new generation of Suzuki engines. The new engines were DOHC engines with VVT, and a displacement of 1.3 l~ 1.5 liters. Power output ranged from 89 to 110 PS (65 to 81 kW), though the foreign models received a de-tuned, base model 1.3 with 83 PS.

A sporty version of the first gen. Swift was also available, called the Swift Sport in Japan, and Ignis Sport in Europe. Utilizing the same 1.5 L engine, the power was increased to 115 PS, and featured a number of upgrades such as a lowered chassis, tighter suspension, close gears and tuned exhaust. All these changes gave it superior handling, at it could reach 100 km/h in 8.9 seconds, and tops out at 185 km/h.

In '01, GM introduced the Chevrolet Cruze, a crossover based on the Swift, only slightly larger. It was sold in europe as an updated Suzuki Ignis.

The 2004 generation Swift was a new direction for the hatchback, with the new model being more sporty, and suspension custom made for the winding european roads. The Swift featured a 1.3 l, 91 hp engine, or a 1.5 l, 101 hp engine.

In 2005, Suzuki launched the new generation of sporty Swifts, the Swift Sport. The model was introduced in europe the following year. Powered by a high-revving 1.6 liter, NA DOHC VVT 4-cylinder engine, with a 4-2-1 exhaust manifold, high lift cams, forged pistons, and strengthened valve springs, outputting 123 hp. The Swift Sport was also outfitted with a sporty new body kit, harder springs, dual exhaust pipes and upgraded brakes.

The Suzuki Swift+ is a Canada-only collaboration with the Daewoo, sold since 2004, as a captive import of the Daewoo Kalos, sold under the Swift banner. In 2009 it was updated with the Opel ECOTEC 106 hp 1.6 l engine.

With gas prices on the rise, Japan has seen the trend of mini's becoming the tuning base for today's tuners. Both Supercharger and Turbocharger kits have been developed for a variety of minis, as well as selections of aero, exhaust, and suspension parts by many major and minor brands in the JDM tuning industry. The Suzuki Swift has a variety of parts available for it to be a faster, sharper handling city cruiser and track racer.