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Volvo has used the V40 name on more than one occasion. It was originally used on the estate version of the S40, which was released in 1995. The name remained in use on the estate until 2004, when the new generation was released, and the estate was renamed as the V50. The V was used, rather than just S40 estate, to signify Versatility. The V40 name is now used again on a small family hatchback model that was released in 2012.
The V40 was a joint venture with Mitsubishi Motors, who also used the same platform for their Carisma. The Volvo V40 was also the first model to be introduced after the new head of design, British designer Peter Horbury, had been placed in charge. The newer V40 hatchback was designed by American Chris Benjamin, under the guidance of Peter Horbury, and was the British designers last car before moving to the parent company that owns Volvo. It seems fitting that both his first and last project was named the V40.
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