In R-Design trim, the V40 gets new bumpers, with a satin-finish faux diffuser at the rear, and a new lower grille and foglight design up front.
There's also new five-spoke diamond-cut alloy wheels in 17- and 18-inch options, and a new Rebel Blue colour choice.
Inside, there's a black headliner and sport seats trimmed in black Nubuck leather, along with Volvo's R-Design sports steering wheel, shifter, brake lever and pedals.
As with the larger S60 range, the R-Design package will be offered with all engine levels in the V40 line-up, from the 84kW D2 diesel through to the top-shelf 187kW T5 turbo petrol model.
A new Polestar-enhanced flagship has also been rumoured, offering all-wheel-drive and "at least" 10 percent more power than the 187kW T5 model.
With those sorts of figures, the V40 Polestar will make an obvious rival for the likes of the Audi S3 and Volkswagen Golf R, and a reasonable alternative to the BMW M135i and upcoming Mercedes-Benz A 45 AMG.
As for the rest of the range, Volvo Australia has confirmed we can expect a local debut either in late 2012, or early next year.