Volvo will "most likely" launch a new small car, says CEO Hans-Olov Olsson, according to Automotive News Europe. But while Volvo is still considering a car smaller than the S40, it has no plans to extend its range upward into BMW 7-series and Mercedes-Benz S-class territory. As for a small car, Olsson said: "First we have to look at the business case. We are not in a hurry. We have so much on our plate. But we will probably decide on the introduction of a smaller model during the next 12 to 24 months."