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The pre-war Lloyd 350 was really a cyclecar and was powered by a single-cylinder, water-cooled Villiers two-stroke engine of 347 cc producing 11.5 bhp, located at the back of the car and transmitting power via a three-speed gearbox to the nearside rear-wheel only with a chain. The four-wheel chassis featured all round independent suspension using transverse leaf springs. The car was deliberately simple, there was no electric starter, the fuel tank was mounted above the engine with gravity feed and the windscreen wipers were hand operated.

It was available as an open two-seater and, unusually for a light car, as a closed 3-seater. Production stopped on the outbreak of the Second World War, with a claimed 250 made, with cars exported to the Netherlands, New Zealand and South Africa. It was said to be capable of reaching 45 mph (70 km/h). The car was listed at £80 for the basic version but there was also a de-luxe with electric starting and lighting at £85.

Just before the outbreak of war a van version was introduced with the engine at the front and front-wheel drive, but only a few were made.