In 1958 the sport model, Amazon Sport, was released and later the same year the Amazon became the first series produced car with a two-point safety belt in the front seats as standard. In 1962, Volvo introduced a two door version, an elegant five door wagon, and the new B18 engine, but the two tone paint job and upholstery were no longer available, making interiors rather drab until the introduction of color-coordinated embossed vinyl upholstery and door panels in 1965.
The new gearbox selections were the three speed M30 (briefly offered with an automatic electric clutch), the four speed M40 and the M41 with four speed and overdrive. The M31 gearbox was also introduced in 1961 but was only available that year (a three speed fully synchronized gearbox with overdrive on both second and third direct gears). Gearbox options on the 121 were the M30, M31 and M40 while gearbox options on the 122S were the M40 and M41 gearboxes. In 1964 the Borg-Warner BW35 three speed automatic transmission also became available.
In 1966 production of the Volvo PV ceased and the Amazon Favorit was introduced to replace it. The Amazon Favorit was a simpler version of the Amazon. In 1967 came the 123GT that was a 130 with high compression B18B engine (from the Volvo P1800), M41 gearbox, fully reclining seats, front fog and driving lights (on some markets), alternator, fender mounted mirrors, special steering wheel, dash with a shelf on the passenger side, and other cosmetic upgrades. In 1969 the displacement of the old B18 engine was increased and the engine was called the B20.
While the car was sold as the Volvo Amazon in Sweden, it was marketed using the model number in most other countries, or more in general as the Volvo 122. The reason for this was that "Amazon" was already a registered trademark in all export markets by German moped manufacturer Kreidler. Production ended in 1970. A total of 667,323 were made. It was replaced by the Volvo 140.