Volvo Cars is planning on launching ‘Care by Volvo,’ a subscription service when it launches its XC40 early next year.

According to Volvo, the service will involve no deposit, but instead a monthly payment covering the vehicle, insurance, taxes and service fees.

Every two years, the car can be replaced with a new vehicle.

Depending on regional availability, it will also bring digital concierge services, such as fuelling, cleaning, service pick-up and e-commerce delivery to the car.

Håkan Samuelsson, president and chief executive of Volvo Cars, said: “With Care by Volvo, we introduce a new car access for the modern age. In a time where consumers are used to transparent flat fees for all sorts of services, the traditional process of buying and owning a car can be perceived as rather complicated. Care by Volvo changes all of that.”

Volvo was keen to stress that it intended for Care by Volvo to develop and expand with time, including being offered for other models, and the introduction of new digital concierge services.

It will also expand geographically. It will initially launch in Sweden, the US, the UK, Germany, Spain, Italy, Norway, and Poland. In the UK it will only be available to those living inside the M25.

According to Volvo, Care by Volvo will have no customer age or geographical price differences, and will have a national standard price in the UK. Prices will be unified in Eurozone countries.

The XC40 is Volvo’s first premium compact SUV, and was built on the company’s new Compact Modular Architecture platform.

Thomas Andersson, vice president of Care by Volvo at Volvo Cars said: “Our aim with Care by Volvo is to provide our customers with a transparent, premium car user experience. With a fixed monthly payment, Volvo Cars provides a truly customer-focused alternative to the traditional purchase or leasing. Time is a luxury for our customers, and with this service we are able to free up time in their daily lives. This is simply making life easier for our customers.”