Volvo ponders small model to take on Mini
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Volvo may bring out a rival to the Mini and Audi A1.
If it happens, Volvo would need a partner to share the costs and would need a smaller engine, Volvo CEO Stefan Jacoby told Automotive News Europe. The engine probably would be made in cooperation with parent Zhejiang Geely of China.
Premium-car buyers are willing to spend extra even for subcompact cars, said Jacoby.
"Premium customers no longer define luxury based on the size of the car or number of cylinders," he said. "There are other attributes which will come into play."
The smallest model in Volvo's range is the V40 compact, which competes with the Audi A3 and BMW 1 series. The V40 debuted last month, so Jacoby is in no rush to launch a model below the newcomer.
"My priority is to bring the Scalable Platform Architecture online and to renew Volvo's core ranges, the 60, the 80/90 and the SUVs," Jacoby said. "When I have managed this, I will look to diversification, going into niches, doing sporty versions and also looking to smaller cars."
You can reach Luca Ciferri at lciferri@crain.com.
