Volvo Eyeing XC40 Compact Crossover Model

Volvo Eyeing XC40 Compact Crossover Model

Volvo wants a piece of the growing compact crossover segment.

In a recent interview with Autocar, Volvo president and CEO Hakan Samuelsson confirmed that “a small SUV is very high on our wish list.” Samuelsson also acknowledged that the small SUV market is trending upwards and that customers are downsizing towards more compact models. The new model will likely sport the XC40 nameplate to go along with the Swedish automaker’s current nomenclature and will be based on the Compact Modular Architecture (CMA) platform that Volvo is currently developing with owners Geely.

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Volvo is on a mission to bring its brand back to the spotlight, hoping to increase sales to 800,000 units by 2020, up from the current 450,000 annual pace. So by the end of the decade, expect Volvo to have a lineup consisting of the 40, 60 and 90 badges, all of which will be available in sedan, wagon and SUV form. The company won’t be turning its attention to coupes and convertibles until it becomes “bigger and more profitable doing” what its currently doing, according to Samuelsson.

GALLERY: 2015 Volvo XC90 R-Design

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[Source: Autocar]

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