The latest version of Volvo's ultra-chic C70 Convertible was first revealed late last year but the new drop-top is set to go on sale in the coming months and we can reveal today that it will be priced from $40,800 plus a destination charge of $850.

Despite the slightly higher sticker than the outgoing model, Volvo has packed its latest 2011 C70 Convertible with more standard features including a 5-speed automatic transmission, Sirius Satellite Radio and "Sovereign Hide" leather trim. Many of these were optional extras previously and in total represent an approximate saving of $4,000, according to Volvo.

The C70 was updated slightly for the 2011 model year, receiving a refreshed exterior that picks Volvo's new corporate look as well as an upgraded cabin with a new instrument panel design.

The "Dynamic Trim" package comes with 18-inch alloy wheels, bi-xenon active headlights and a sports steering wheel. Opt for the $1,000 "Convenience" package and you get keyless drive, a HomeLink remote garage door opener, rear park assist and an integrated compass. Other optional extras include metallic paint at $550 and a blind-spot information system for $700.

While overseas the 2011 Volvo C70 Convertible is offered with several gasoline and turbodiesel engines, in the U.S. it comes with the range-topping 2.5-liter T5 five-cylinder turbocharged mill with 230 horsepower and 236 pound-feet of torque on tap.