The first generation 1982 V45 Magna had chrome headlight and fenders. The front disc brakes have straight grooves, dual piston calipers, and TRAC anti-dive. The speedometer reads 80 mph. The redline is 10,000 rpm. The engine is a 748 cc DOHC 16-valve liquid-cooled 90 degree V-4 linked to a six-speed transmission with a hydraulically actuated wet-plate clutch and shaft drive. Compression is high, and the stroke is short.

The 1983 V45 Magna was available had chrome headlight, instruments, and fenders.