Every Volvo is a car, so it can make sense to have a classVolvo (the set of all Volvos) that inherits from the class Car (the set of all cars).

As a car manufacturer, Volvo is an object, not a class. The "has-a" inheritance relationship is a relationship between two classes, not between an object and a class. Therefore, Volvo would not be a derived class from CarManufacturer, but an object belonging to that class.