Volvo unveiled the XC40 at Milan, which is the Swedish manufacturer's most compact and affordable SUV in the portfolio. The Volvo XC40 will be pitched against its German rivals, the BMW X1 and the Audi A3. The Volvo XC40 SUV is based on the CMA Compact Modular Architecture platform which is a smaller but equally advanced version of the Scalable Product Architecture (SPA) that forms the basis of the S90 and the V90. Along with the unveiling of the Volvo XC40, the car manufacturer also launched the Care by Volvo leasing 24-month subscription service that can let anyone have the Volvo XC40 for a monthly subscription fee of 629 (Rs 55,320) that will cover servicing, road tax and the insurance.
The company states that after the book the new Volvo XC40 online, the Care by Volvo customers won't have to bother about the down payments, insurances, taxes, service fees. Additionally, Care by Volvo will also be offering additional services such as fuelling, cleaning, service pick-up and e-commerce delivery to the car. The Volvo XC40 can also be shared with friends and family with the help of a digital key that all the subscribers of the Care by Volvo will get. Post the new Volvo XC40, the other models in the company's portfolio will also be covered under the Care by Volvo programme.
Volvo will introduce the new leasing programme in Sweden, the United Kingdom, Germany, Spain, Italy, Norway, Poland and the United States. Other markets will added at a later stage.