Volvo is all set to further enhance its SUV offering which it said is in response to greater consumer interest in the segment. Towards that, the automaker had also announced the launch of the XC40 compact SUV which would form part of the automakers new 40-series of cars.
The Swedish car maker also stated they are banking a lot on the new XC40 small SUV, which it hopes will significant add to its sales. Likely to be unveiled by early 2018, Volvo stated they expect the upcoming XC40 sales figure to be close to six figure mark at least, if not more, AutoCar reported.
Demand for SUVs has been particularly strong in global markets such as Sweden, China and the US and is expecting strong demand for the new compact SUV in these regions.
The company also reported more than half of its total sales last year came from SUVs. Of the 503,127 vehicles it sold globally, the XC and Cross Country models made for a shade less than 267,000 units.
The biggest selling model from the company has been the XC60, which went for sales of 159,617 units last year. The V40 hatch came in at second with sales of 83,357 units.
Those apart, it is the new XC90, XC70 and V40 Cross Countrys that sold in significant numbers, each making for 40,261 units, 30,175 units and 23,274 units respectively. Demand for the new XC90 continues to be strong with the SUV having found 51,810 buyers during the first half of the year, pointing to sales exceeding the 100,000 figure mark for the entire year.
The 40-Series will be powered by the new T5 Twin Engine plug-in hybrid powertrain which shares the same technology as seen on the latest 90-Series of its cars. More specifically, it will be a three-cylinder engine mated to an electric motor providing the motive power while a seven-speed dual-clutch automated transmission would be transferring the power to the pavement.