The Volvo S40 is a series of compact and mid-size automobiles marketed and produced by the Swedish manufacturer Volvo Cars from 1995 to 2012, offered as a more mainstream alternative to the Volvo S60 to compete in a lower pricing bracket. The S40 was more or less positioned against premium-leaning small family cars like the Volkswagen Jetta as well as some mass-market large family cars. The first generation (1995–2004) was introduced in 1995 with the S40 (S from saloon) and V40 (V from versatility, estate) cars. The second generation (2004–2012) was released in 2004, and the estate variant's name changed to V50. The range was replaced by the Volvo V40 five door hatchback in 2012. First generation (1995–2004) During August 1995, Volvo released its new series, with the intention of calling the cars S4 and F4. However, as Audi had already reserved the "S4" name, Volvo opted to name the range S40 (saloon), and V40 (estate). These cars were manufactured at the Nedcar factory at Born in the Netherlands (a pre Ford joint venture between Volvo and Mitsubishi Motors) and based on a common platform with the Mitsubishi Carisma, later used by the Proton Waja. They were also the last Volvos to be produced at the Born plant; a lineage that had begun in the early 1970s with Volvo's collaboration with DAF that had led to the Volvo 66 and the Volvo 300 series. In the United Kingdom, it cost approximately 50% more than the related Mitsubishi Carisma. The car helped change perceptions of Volvo: "The S40/V40 range was the car that finally persuaded buyers that Volvo really could build a credible compact executive car", reported the RAC. For the 2000 model year, Volvo expanded the S40/V40's market to North America, where went on sale exclusively with the 1.9 liter turbo. The V40, with a drag coefficient of 0.32, was the first whole model to be introduced under the direction of the British designer Peter Horbury, Volvo’s design director, and was marketed in Australia, South America and the Far East. The V40 was named the ‘Most Beautiful Estate Car in the World’ at an Italian award ceremony. The official premiere was at the Frankfurt Motor Show, in September 1995, with the V40 premièring in December 1995, at the Bologna Motor Show. In July 2000, Volvo updated the 40 Series ("Phase II"), implementing a number of technical improvements, including improved engine