As Oldsmobile's entry-level vehicle from 1992 to 1998, Achieva was available in two 5-seat body styles, a 2-door and 4-door version. Young, value-conscious shoppers checking out the Achieva also considered its Buick Skylark and Pontiac Grand Am sister cars, as well as Ford's Tempo and Contour, the Dodge Cirrus and a boatful of Japanese competition.
In 1994, there was an ad for the Achieva in which the car was called "a compact car with an attitude." "I wanted a medium-sized, 6-cylinder, American 4-door that didn't look boxy or stodgy," commented a Texas electronics technician. A New York secretary said, "For the money, the Achieva was the nicest, sportiest car I could find. Also good workmanship, not cheaply made, very sturdy." Several owners who filled out a bunch of questionnaires mentioned that they were pleasantly surprised by the Achieva's long list of standard equipment.
Redesigned for 1992, the new Achieva was unveiled at the 1992 North American International Auto Show on January 9, 1992, and went on sale in February 1992.
New for 1995 was standard speed-variable power steering. The rear-axle suspension geometry has been improved by relocating the rear coil springs to the centerline of the axle to reduce forces transmitted to the vehicle body. Complementing that change is a rear anti-roll bar and, up front, stiffer bushings mounting the front struts and control arm bushings. The tires have also been "retuned" for less rolling resistance.
There were also two new engines available: a revised Quad 4, which was a high-output 150-horsepower dohc version of that engine and replaced the 1994 Achieva's sohc version. A new feature on the Quad 4 was a pair of crankcase-mounted chain-driven counterweights to improve idle smoothness and reduce vibration of the 2.3-liter Four.
The 3.1-liter V6 continued to be available, although with only 5 hp more than the Quad 4, usually unnecessary for most drivers. Standard with the Quad 4 engine was a 5-speed manual. A 4-speed automatic transaxle was standard with the 3.1-liter V6 and optional on the Quad 4. Both 2- and 4-door versions were available in two levels of appointment, cleverly referred to as Series I and Series II. In addition to the uprated trim and options on the Series II package, an optional rear spoiler was also made.
The last Oldsmobile Achievas were made on December 4, 1997 for this model year. After that, the Achieva was replaced by the Alero.
As of December 17, 1993:
- $14,210 (1994 Oldsmobile Achieva S 2DR Coupe)
- $14,310 (1994 Oldsmobile Achieva S 4DR Sedan)
- $17,710 (1994 Oldsmobile Achieva SC/SL)
As of mid-1994:
- $13,500 (1995 Oldsmobile Achieva Series I)
- $15,200 (1995 Oldsmobile Achieva Series II)
As of August 1, 1995:
- $13,705 (1995 Oldsmobile Achieva Series I 4DR Sedan)
- $15,405 (1995 Oldsmobile Achieva Series II)
- $13,495 (1996 Oldsmobile Achieva Series I)
- $14,495 (1996 Oldsmobile Achieva Series II)
- $16,495 (1996 Oldsmobile Achieva Series III)
- $485 (1994 models)
- $495 (1995 models)
- $500 (1996 models)