Volvo had, however, refused saying that they wanted to put more resources into the family cars they were known for and that the P1800 was selling well already so there was no need to update or replace it.

[2] The GTZ concept did find a private buyer at the Turin show but Volvo said they were not interested in producing it but hinted that they may be if the car were to be fitted with a different engine.

[4] The GTZ is based on the underpinnings from the 140 Series, using an evolved version of that car's 2.0-litre B20 inline-four engine with two double-barrel Solex carburetors.

The design for the GTZ 3000 was made using a wind tunnel for better aerodynamics, and was shorter, wider and lower than the 164, as well as 300 lb (136 kg) lighter.

Like the previous concept, the GTZ 3000 did find a private buyer at the Geneva show who drove it regularly in Italy, and today the car is known to still exist and as of 2008 was awaiting restoration in Sweden.