European colleagues Autocar have confirmed in an exclusive interview with Volvo CEO HÃ¥kan Samuelsson that a compact SUV (possibly called the Volvo XC40) is on the cards.
â€œA small SUV is very high on our wish list,â€ Volvo president and CEO HÃ¥kan Samuelsson confirmed to Autocar. â€œThere is a clear trend towards downsizing and we will provide customers with an SUV that is small in stature but remains premium in nature.â€
Although the compact market is well catered for with the accomplished with the V40, even more so with the Cross Country, with the current race amongst European rivals to fill the compact premium SUV market, Volvo is keen to join inâ€¦and cash in with the Volvo XC40.
According to Autocar the new Vovlo is to be based on the forthcoming Compact Modular Architecture (CMA) platform being developed in conjunction with Volvoâ€™s Chinese owners, Geely.
â€œThe job for now is to become bigger and more profitable doing what we already do but doing it much better and charging more for it,â€ said Samuelsson. â€œOnly then can we start looking at coupÃ©s and convertibles.â€ He also confirmed that there are no current plans to replace the C30 small hatchback.
In the meantime, Volvo remains committed to its four-cylinder future, even though the strategy has met with some resistance in the crucial but V8-friendly US market.
â€œThe question is how long is it [the V8] going to last once cars have to produce an average of 95g/km?â€ he said. â€œIf you want 400bhp, we can give you 400bhp but no one needs it all the time so we provide the power using batteries and meet emissions targets with plug-in hybrids.
“Thatâ€™s why we have changed our strategy and market them as twin-engine cars because that is effectively what weâ€™re providing.â€
By 2020 Volvo will have three core ranges, badged 40, 60 and 90, all of which will be offered in saloon (S), estate (V) and SUV (XC) form.