Volvo boasts the XC40 will be its most colorful model.

Volvo has confirmed what we already knew: it's working on a small, entry-level SUV named XC40. The model will take the Swedish brand into the small SUV segment for the first time.

The company's teaser images reveal absolutely nothing about Sweden's smallest soft-roader. However, it's not too far-fetched to imagine it will look a lot like the 40.1 Concept (pictured) that was introduced at its headquarters in Sweden last year. If that's the case, it will borrow styling cues from bigger XCs like the XC60 and the XC90 without being a carbon copy of them.

The XC40 will compete in a hotly-contested segment of the market, and it will be aimed at a younger target audience. To that end, Volvo promises it will be its most colorful model ever.

"On the outside, a broad selection of possible color combinations range from a solid, monochromatic theme, to dual compositions in vivid colors that lends themselves to self-expression," the company says. Inside, buyers will be able to spec Lava Orange carpet, Oxide Red upholstery, or both.

The XC40 will usher in Volvo's new Compact Modular Architecture (CMA), a platform that will underpin several compact Volvo and Geely models in the coming years. It will also inaugurate the company's new turbocharged 1.5-liter three-cylinder engine.

A four-cylinder engine and a plug-in hybrid drivetrain will round out the list of powertrain options. Front-wheel drive will come standard, and all-wheel drive will be offered at an extra cost. Buyers in Europe will have access to at least one diesel engine, though the oil-burner will not be sold on our shores.

Volvo promises the XC40 will be unveiled "shortly." That's vague at best, but it's not too far-fetched to speculate we'll see it in the metal for the first time this fall at the Frankfurt Auto Show.