The Moskvitch 401 (full designation: Moskvitch 401-420) was introduced in 1954, an improved variant of the 400-420. It weighs 885 kg (1,951 lb). and was powered by an 1,074 cc (65.5 cu in) sidevalve inline four engine, uprated from 23 hp (17 kW; 23 PS) to 26 hp (19 kW; 26 PS), thanks to a higher compression ratio, of 6.2:1, and improved intake and exhaust manifolds. Other changes included a new starter motor, dynamo, wheel bearings, and handbrake.

Both models were externally identical. It had a top speed of 90 km/h (56 mph). Some of the production was exported, among other countries to East Germany and Norway. Production ended in 1956, when the design was heavily outdated. Private users in Norway at the time needed a license to buy a new imported car. This did not apply to Russian cars that as a "friendly gesture" were supplied in exchange for fish.

Production of the saloon ended 20 April 1956, when it was replaced by Moskvitch 402. 247,439 had been built, counting both the 400 and 401.