Editing Matchbox (brand) (section)

===Purchase by Mattel and present day===
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[[File:Matchbox Cars.jpg|thumb|left|Various 2020–2021 Matchbox 1-100 series models, (left to right: 2020 [[Honda e]], 2018 [[LEVC TX]], 2019 [[Subaru Forester]], 2019 ''Big Banana Car'')]]

By 1992, Universal was also seeking a buyer. In May 1992, it sold the brand to [[Tyco Toys]], the toy division of which was bought out in turn by [[Mattel]] in 1997, uniting Matchbox with its longtime rival [[Hot Wheels]] under the same corporate banner.<ref name=Dana2004 /> Under Mattel, the name "Matchbox International Ltd." was terminated.

The buyout by Mattel was greeted with considerable trepidation by the Matchbox collectors' community. The rivalry between the Hot Wheels and Matchbox brands was not only a battle fought by the companies; collectors of each of the brands felt strongly about the qualities of their brand of choice. For the typical Matchbox collector, Hot Wheels were inferior in scaling and model choice, making them less desirable. There were fears that Mattel would either impose a Hot Wheels-style philosophy on the Matchbox line, or actually fold the Matchbox line into the Hot Wheels series. Early concerns of this nature by collectors were countered by assurances from Mattel that Matchbox would continue to develop its own product line independently from Hot Wheels, and that it was intended that Matchbox represent more realistic and traditional vehicles, while fantasy ones would be placed firmly in Hot Wheels territory. To demonstrate the latter commitment, some very realistic Hot Wheels [[Caterpillar Inc.|Caterpillar]] models were re-branded to Matchbox.

In 2002, to celebrate its 50th anniversary, [[Matchbox Sky Busters|''Sky Busters'']] made a comeback, but with [[Continental Airlines]] as the only major airline to sponsor the product. In 2003, Matchbox came out with a line of special-edition cars.
[[File:1971 Nissan Skyline 2000 GTX - Matchbox - Flickr - dave 7.jpg|thumb|right|A modern-day Matchbox [[Nissan Skyline]], still in package]]

Breaking with its commitment of the 1990s, Mattel revamped the Matchbox line almost completely in 2003, introducing ''Ultra Heroes'', a series of fantasy vehicles, as part of a "Hero City" theme.  Matchbox collectors were appalled, and the market didn't respond. The toys proved to be unpopular, and the line was soon discontinued. Next year, Matchbox, with a new team in charge based in [[El Segundo, California]], started a return to the company's roots by selling realistic, well-detailed models, most of which were based on real [[prototype]]s, although mostly of American cars, or brands well known on the American market. The reappearance of the pre-2001 Matchbox logo, albeit without its classic quotation marks, signalled the return to the original philosophy.

To signal the seriousness of the venture, and its commitment to the brand, Mattel introduced a new, second ''1-75'' series, parallel to the standard range, celebrating the "35th Anniversary of Superfast". Models were packaged in model-specific blister packs containing not only the model, but also individual, traditional-style "retro" boxes, harking back to the Superfast boxes from about 1970. All castings were of realistic vehicles, and some 1969 castings were re-activated for inclusion in the range. The series was strictly limited in production volume, sold at a premium price, and was a great success. Further Superfast series were released in 2005 and 2006, and continued again in 2019 and 2020. The ''Superfast'' series was later discontinued for 2021 and was replaced by the similar ''Matchbox Collector'' line, which are collector-focused vehicles in 1950s-style retro packing. These vehicles have features which are not present on standard cars, such as opening parts and two-piece wheels with rubber tires, and increased detailing and decorations on the cars.

Also in 2005, certain ''Yesteryear'' castings, which had been released during the Tyco/early Mattel era as part of the "Muscle Car" series of Matchbox Collectibles, were re-released in 1971-style retro packaging and retro wheels as ''Super Kings''—considered by many to be a strange name choice, since models of that nature had been called ''Speed Kings'' in the 1970s.

Following the "Hero City" fiasco (the name being dropped in late 2005 in favor of "MBX Metal"), Mattel showed interest in reviving the Matchbox brand. However, since Matchbox Collectibles Inc. was shut down, Mattel's interests have always been concentrated on very few series of the Matchbox legacy: ''1-75'', ''Sky Busters'', ''Convoys'', and to some extent the ''Two Packs'' concept, although now sold under a different name, ''Hitch 'n Haul''. Although small numbers of ''Super Kings'' and ''Yesteryears'' were released at times, no new castings were created.  ''Battle Kings'' reappeared on the market in 2006, not as King Size models, but rather as a name of military-oriented ''Two Pack''-style sets of regular-size models.  The ''Dinky'' name has effectively been reduced to a few "re-branded" Matchbox ''1-75'' cars on the international market (normal models with "Dinky" tampo-printed onto the baseplate). No further investment in dies or tooling was made. It appeared that the classic brand, once saved by Matchbox, would be allowed by Mattel to languish or die once again.

In 2019, Matchbox launched the ''Moving Parts'' line, which are vehicles that incorporate opening features such as bonnets and doors. Some vehicles in the series harken back to older Lesney castings, such as the [[Volkswagen Type 3]] and [[Pontiac Grand Prix]]. These vehicles usually retail for twice the amount of a standard Matchbox car.