Volvo looking at a MINI competitor

Volvo looking at a MINI competitor

Volvo’s CEO revealed that they are considering a competitor to the MINI.

The smallest model in Volvo’s lineup right now is the recently introduced 2013 V40 subcompact that went on sale in July. It seems that the Swedish automaker is considering a new model which would tackle the MINI, but for this to happen they’ll have to find a partner to share costs, along with getting a smaller engine that could be co-developed with parent Zhejiang Geely of China, according to an interview given to

Automotive News Europe
by Volvo’s CEO Jacoby He mentioned that premium car buyers are more willing to pay more for subcompact models. This is likely true based on data from market research JATO Dynamics, which shows that entry-premium sales in Europe have increased by 19% to 332,262 units in 2011. The lead car being the new Audi A1.

Jacoby stated that Volvo has not been in hurry to launch the new model, which would be a rival to the MINI V40 since it was launched just one month ago.