The first completely new Zetor model range in over 20 years was the 40 series, also known as the UR III, which was launched in 1992. The tractor could have been developed by almost any manufacturer. In terms of features, it was ahead of basic tractors like the Valmet 65 series, but it did not have the latest refinements. A distinctive solution compared to other tractors was the use of compressed air for, among other things, engaging the four-wheel drive and the differential lock, alongside the tire inflation capability.

The first model introduced was the 84-horsepower 8540, followed soon after by the 9540 (96 hp). Later, the range expanded to include the intercooled 10540 (103 hp) and the naturally aspirated 7540 (71 hp), which was not imported to Finland. The new 4.2-liter engine was equipped with balance shafts and an oil cooler. It provided a fairly good amount of torque. Initially, transmission options included a 16+4 with a 2-speed hydraulic shuttle, an 8+8 with a mechanical reverser, and a 16+4 with creeper gears. In 1994, an 18+6 with a 3-speed hydraulic shuttle was introduced, which became the standard transmission for the 9540 and 10540. The main gearbox was synchronized, but the range gearbox, including the reverse gear, was not synchronized.

The cab ergonomics were fully on par with Western standards, although the interior was somewhat basic. Unfortunately, the noise level was high. The three-point hitch had a quick control activated by pressing a button. This function was also implemented pneumatically. The sensing was done via the lift arm, which in this respect was a step backward compared to the Crystal model. The Carraro front axle was equipped with a friction lock. Some experienced durability problems with the front axle drive shafts. Separate pumps were provided for steering and the shuttle. At 4 tons, the tractor was lightweight in its power class.

In 1996, a more powerful hydraulic pump and three-point hitch were introduced, becoming standard in Finland. Additionally, a Bosch electric hitch lift was available, which included draft sensing for the lift arms. Forestry cabs were also built in Finland for these models.

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