The second generation of Studebaker Lark was introduced for the 1962 model year. This new generation of Lark was updated on a tight budget as Studebaker was going through financial problems. The second generation saw updated styling, and was offered in sedan, coupe, and station wagon (known as the Wagonaire) body styles. A standard 2.8L inline six engine was fitted, with an optional 4.2L V8 unit optional. In 1963, the R1 and R2 V8 engines from the Studebaker Avanti became available on the Lark. The most notable trim levels were Deluxe and Regal (premium). Production of the second generation Lark lasted until 1963, when it was replaced by the Third Generation Studebaker Lark.