By Eric Brandt
Updated November 08, 2021
Price: The Volvo XC40 has a starting price of $34,100. The top T5 AWD Inscription trim starts at $41,850.
The Volvo XC40 is a top choice in subcompact luxury SUVs. It turns heads with its unique styling, and it has a lot of practicality for such a small SUV. The seating space is pretty generous, it’s loaded with modern tech features, and as you’d expect from a Volvo, it earns stellar safety ratings with the coveted IIHS Top Safety Pick+ award.
The 2022 XC40 is a carryover model from last year, but a few minor changes are worth noting. The power liftgate is now an individual option, and wireless charging is standard in the R-Design and Inscription trims.
One of our only complaints is that there’s no hybrid option, despite Volvo’s commitment to electrification. However, there is an all-electric Volvo XC40 Recharge (reviewed separately).
The Volvo XC40 competes with other European subcompact luxury SUVs like the BMW X1, Mercedes-Benz GLA-Class, and Audi Q3. The Volvo is priced a little lower than its aforementioned rivals but arguably serves up just as much appeal, plus one of the nicest interiors in this class.
2022 Volvo XC40 pricing starts at $24,411 for the XC40 T4 Momentum Sport Utility 4D, which had a starting MSRP of $37,670 when new. The range-topping 2022 XC40 T5 Inscription Sport Utility 4D starts at $29,202 today, originally priced from $43,945.
Original MSRP | KBB Fair Purchase Price (national avg.) | |||
---|---|---|---|---|
$37,670 | $24,411 | |||
$39,670 | $26,607 | |||
$41,445 | $29,283 | |||
$41,945 | $29,937 | |||
$43,445 | $30,419 | |||
$43,945 | $29,202 |
The Kelley Blue Book Fair Purchase Price for any individual used vehicle can vary greatly according to mileage, condition, location, and other factors. The prices here reflect what buyers are currently paying for used 2022 Volvo XC40 models in typical condition when purchasing from a dealership. These prices are updated weekly.
There’s nothing extraordinary about how the Volvo XC40 drives with the base T4 FWD powertrain. If you upgrade to the more robust T5 AWD setup, this SUV becomes much more fun to drive. The T4 is adequate, but since the T5 is only an extra $2,000 for a significant boost in power and standard all-wheel drive, it’s a worthwhile upgrade for most drivers.
Since the XC40 has a pretty short wheelbase and a well-tuned chassis, the handling of the XC40 is relatively agile. It gets sportier in the R-Design trim with its sport-tuned suspension and bigger wheels. The XC40 is also comfortable in long-distance highway driving.
The XC40 isn’t much of an off-roader, but it has a respectable 8.3 inches of ground clearance. When equipped with all-wheel drive, it has confidence-inspiring traction in wet or snowy road conditions.
The Volvo XC40 has one of the nicest interiors in its competitive class. The design is upscale, and the quality of the materials is top-notch. It’s especially luxurious in the Inscription trim, which includes high-quality leather seats, driftwood inlays, and even an Orrefors crystal gear shift knob. The Audi Q3 is arguably nicer inside, but which is more luxurious depends on your tastes.
The seating space in the XC40 is pretty generous for a subcompact luxury SUV. It’s roomy enough to seat up to four adults comfortably. The cargo hold is a little tight compared to its rivals. If you need more space, consider the larger Volvo XC60.
We love the styling of the Volvo XC40. It looked sleek and modern when it first came out in 2019, and its design is aging well so far. The look changes a bit depending on which trim you go with. The R-Design trim has a sportier look, while the Inscription trim has a more luxurious aesthetic.
The size of the Volvo XC40 is pretty small, even for a subcompact luxury SUV. It’s a little smaller than the BMW X1, Audi Q3, and Lexus UX, and it’s about the same size as the Mercedes-Benz GLA-Class.
PILOT ASSIST
This available semi-autonomous driving system with adaptive cruise control makes highway driving safer and more comfortable.
ORREFORS CRYSTAL SHIFTER
The luxurious Inscription trim of this SUV comes with a genuine crystal shifter, which is a unique touch you won’t find in any of the XC40’s competitors.
The base T4 FWD Momentum trim of the Volvo XC40 comes pretty well equipped. Standard features include 18-inch alloy wheels, LED headlights, a 12.3-inch digital driver display, leather seating, a memory driver’s seat, heated front seats, Android Auto, Apple CarPlay, two USB-A ports in front, and two USB-C ports in the back.
Standard safety features in the XC40 include a blind-spot information system with steering assist, cross-traffic alert, automatic emergency braking, run-off road mitigation and protection, lane-keeping aid, a backup camera, and rear parking sensors.
All three trims of the Volvo XC40 are also available with the T5 AWD powertrain, which brings a nice boost in performance.
An available Premium Package ($2,400) adds a long list of features to the Momentum trim, including dual-zone automatic climate control, a power front passenger seat, navigation, a universal garage door opener, front parking sensors, and wireless charging.
The contents of the Premium Package come standard on the R-Design and Inscription trims. R-Design also adds a sport-tuned suspension, a sporty appearance package inside and out, 19-inch wheels, Nubuk/Nappa leather front seats, and Nubuk/leatherette rear seats.
The luxurious Inscription trim adds upscale touches like exceptional leather upholstery, driftwood interior trim, unique 18-inch wheels, and even a genuine crystal shift knob. R-Design and Inscription both come with a panoramic moonroof.
An available Advance Package ($1,650 for Momentum, $1,450 for R-Design and Inscription) for all trims adds a 360-degree camera, a 12V power outlet in the cargo area, and the Pilot Assist semi-autonomous driving system with adaptive cruise control.
Some individual options for the XC40 include Harman Kardon premium audio ($800), a power liftgate ($200), Park Assist Pilot ($200), and multiple wheel options.
The Volvo XC40 is powered by a 2.0-liter turbocharged inline-4 engine with two different tunings available. The base T4 powertrain is front-wheel drive (FWD) and produces 187 horsepower. Upgrading to the T5 powertrain significantly boosts performance, adds standard all-wheel drive (AWD), and takes only a modest toll on fuel economy. T5 models only cost $2,000 more than their T4 counterparts, so it’s a worthwhile upgrade for most drivers.
Every XC40 uses an 8-speed automatic transmission.
2.0-liter turbocharged inline-4 (XC40 T4 FWD)
187 horsepower @ 4,700 rpm
221 lb-ft of torque @ 1,400 rpm
EPA city/highway fuel economy: 23/32 mpg
2.0-liter turbocharged inline-4 (XC40 T5 AWD)
248 horsepower @ 5,500 rpm
258 lb-ft of torque @ 1,800 rpm
EPA city/highway fuel economy: 22/30 mpg
Get 3.99% APR for 72 months on a new 2025 XC40 B5 AWD Ultra Dark.
Lease a new 2025 XC40 B5 AWD Ultra Dark for $629 a month for 36 months with $4539 due at signing.
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Year | Vehicle Depreciation* | Resale Value | Trade-In Value | ||
---|---|---|---|---|---|
2022 | - | $37,670 | $37,670 | ||
2023 | $4,547 | $33,123 | $29,687 | ||
2024 | $9,737 | $23,386 | $19,894 | ||
Now | $878 | $22,508 | $19,398 |
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2-Year Forecasted Depreciation
*Depreciation for the last 12 months of the private party resale value.
Annual Depreciation is an estimation of what your vehicle's value might be over time based on an average of similar vehicles. Estimations are calculated by comparing Kelley Blue Book Private Party Values of vehicles similar to yours over time, as well as forecasts from Manheim Auction data comparing current and projected auction values against current Kelley Blue Book Private Party and Trade-In Values. This is not a guarantee of actual depreciation. Local weather conditions, market factors and driver performance will also impact your vehicle's actual depreciation.
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Fuel Capacity | 14.2 gallons | ||
---|---|---|---|
Front Head Room | 39.0 inches | ||
Front Leg Room | 40.9 inches | ||
Max Seating Capacity | 5 | ||
Minimum Ground Clearance | 8.3 inches | ||
Overall Length | 174.2 inches | ||
Front Shoulder Room | 56.7 inches | ||
Towing Capacity, Maximum | 3500 lbs. | ||
Trunk or Cargo Capacity | 57.5 cu.ft. | ||
Turning Diameter | 37.4 feet | ||
Wheel Base | 106.4 inches | ||
Width with mirrors | 80.1 inches |
Alloy Wheels | Available | ||
---|---|---|---|
Fog Lights | Available | ||
Number of Doors | 4 doors | ||
Panorama Moon Roof | Available | ||
Privacy Glass | Available | ||
Roof Rails | Available | ||
LED Headlights | Available | ||
Rear Spoiler | Available |
City | 23 mpg | ||
---|---|---|---|
Highway | 32 mpg | ||
Combined | 26 mpg |
Drivetrain | FWD | ||
---|---|---|---|
Transmission Type | Automatic | ||
8 speed | Available | ||
Recommended Fuel | Regular | ||
Hill Descent Control | Available | ||
Hill Start Assist | Available | ||
Parking Assist System | Available |
Horsepower | 187 @ 4700 RPM | ||
---|---|---|---|
Torque | 221 @ 1400 rpm | ||
Engine | 4-Cyl, Turbo, 2.0 Liter |
Basic | 4 years / 50000 miles | ||
---|---|---|---|
Powertrain | 4 years / 50000 miles | ||
Corrosion | 12 years / Unlimited miles |
Park Assist Pilot
This optional tech feature automatically turns the steering wheel when parallel parking while you work the pedals.
Blind Spot Information System
This standard feature helps you keep an eye on your blind spot, plus it includes steering assist and rear cross-traffic alert with auto braking.
Lane-keeping assist
This standard safety feature helps to keep you safe in your lane.
Used 2022 Volvo XC40 | Used 2022 Mercedes-Benz GLA | New 2025 Volvo XC40 | Used 2022 BMW X1 | ||
---|---|---|---|---|---|
Price | $24,411 | $27,430 | $41,945 | $28,319 | |
KBB.com Rating | 4.5 | 4.8 | N/A | 4.3 | |
Consumer Rating | 4.6 | 5.0 | 4.6 | 4.2 | |
Fuel Economy | City 23/Hwy 32/Comb 26 MPG | City 24/Hwy 34/Comb 28 MPG | City 24/Hwy 30/Comb 26 MPG | City 23/Hwy 31/Comb 26 MPG | |
Fuel Type | Gas | N/A | Gas | N/A | |
5 Year Cost To Own 5-Year Cost to Own includes out of pocket expenses like fuel and insurance, plus the car’s loss in value over time (depreciation). | N/A | N/A | $64,988 | N/A | |
Safety Rating | 5.0 | N/A | 5.0 | 5.0 | |
Seating Capacity | 5 | N/A | 5 | 5 | |
Basic Warranty | 4 years or 50000 miles | 4 years or 50000 miles | 4 years or 50000 miles | 4 years or 50000 miles | |
Horsepower | 187 @ 4700 RPM | 221 @ 5500 RPM | 247 @ 5400 RPM | 228 @ 5000 RPM | |
Engine | 4-Cyl, Turbo, 2.0 Liter | 4-Cyl, Turbo, 2.0 Liter | 4-Cyl, Turbo, 2.0 Liter | 4-Cyl, Turbo, 2.0 Liter | |
Drivetrain | FWD | FWD | AWD | AWD |
Volvo will drop the “Recharge” name from all its EVs and PHEVs for 2025.
Buyers who have ordered a new Volvo XC40 Recharge electric SUV are waking up to emails from Volvo explaining why…
The Volvo XC40 has a starting MSRP of $34,100. The top T5 AWD Inscription trim starts at $41,850.
The Volvo XC40 is a great subcompact luxury SUV with a luxurious, high-tech interior and stellar safety scores.
Volvo XC40 models sold in the U.S. market are built in Ghent, Belgium.
Yes, the 2022 Volvo XC40 is a good car, as reflected by its above-average Kelley Blue Book rating of 4.5 out of 5.
2022 Volvo XC40 city/highway fuel economy ratings range from 22/30 mpg to 23/32 mpg, depending on trim and equipment.
Used 2022 Volvo XC40 prices currently range from $24,411 for the T4 Momentum Sport Utility 4D to $30,419 for the T5 R-Design Sport Utility 4D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.
The cheapest 2022 Volvo XC40 is the T4 Momentum Sport Utility 4D, with a Kelley Blue Book Fair Purchase Price of $24,411.
The 2022 Volvo XC40 is part of the 1st-generation XC40, which our owners give an above-average reliability rating of 4.6 out of 5.