Swedish automaker Volvo has now introduced the XC40, a smaller SUV based on their popular XC60 series. Equipped with safety features such as front or all-wheel drive, 200 or 250 hp four-cylinder motors, and 8.3″ ground clearance, the Volvo XC40 interestingly is being launched with unique offers ownership options. Volvo is exploring a monthly subscription service in addition to traditional lease or purchase methods, in a new business model for vehicle ownership. The new subscription service would include insurance and maintenance costs, along with registration fees. The vehicle can even be loaned to an acquaintance at a scheduled time through the online app the company offers. Volvo is looking to extend this service for its other models as well.
