The Mercury division had two versions of the 292 available in 1955. The standard engine had a 7.6:1 compression ratio and was rated at 188 bhp (140 kW) at 4,400 rpm, with 272 lb·ft (369 Nm) of torque at 2,500 rpm. The top of the range Montclair V8 came with a higher specification version that was rated 198 bhp (148 kW) at 4,400 rpm and 282 lb·ft (382 Nm) at 2,500 rpm. 1955 would be the only model year that Mercury would utilise the 292 in version of the Y-Block, with it being replaced by the larger 312 in engine for the 1956 model year.