By Colin Ryan
Updated January 30, 2025
One of Volvo’s strong sellers, the XC40 is a good size for city life, yet still spacious enough for average-sized families who have moved away from the metropolis. This broad appeal is bolstered by top safety scores in crash tests. Hipster, commuter, or parent — we all want to feel protected.
Among the main changes for the 2023 Volvo XC40 is a new Google-based infotainment system. Don’t worry, iPhone users, Apple CarPlay is part of the package. There’s also the addition of a mild hybrid setup under the hood, as part of Volvo’s push to have some element of electrification in every one of its new 2023 vehicles.
The all-electric 2023 Volvo XC40 Recharge is reviewed separately.
2023 Volvo XC40 pricing starts at $29,114 for the XC40 B4 Core Sport Utility 4D, which had a starting MSRP of $37,445 when new. The range-topping 2023 XC40 B5 Ultimate Bright Theme Sport Utility 4D starts at $30,300 today, originally priced from $47,595.
Original MSRP | KBB Fair Purchase Price (national avg.) | |||
---|---|---|---|---|
$37,445 | $29,114 | |||
$39,445 | $29,629 | |||
$41,845 | $30,000 | |||
$41,845 | $30,200 | |||
$43,845 | $30,400 | |||
$43,845 | $31,500 | |||
$45,595 | $30,100 | |||
$45,595 | $31,789 | |||
$47,595 | $30,200 | |||
$47,595 | $30,300 |
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 2023 Volvo XC40 models in typical condition when purchasing from a dealership. These prices are updated weekly.
There’s the raised driving position and an 8-way power-adjustable driver’s seat that’s standard across the 2023 XC40 SUV lineup. So getting comfortable and confident is accomplished easily.
The whole driving experience is easy. For better or worse, the XC40 is not one of those vehicles that demands concentration but rewards with thrills. Instead, there’s a pleasant effortlessness about it.
Naturally, the 247-horsepower engine that comes with the all-wheel-drive system is more engaging than the front-drive model’s 194-horsepower unit. But city dwellers won’t notice much difference and may not care.
Potential buyers living in areas where heavy coats and woolen hats are pulled out of the wardrobe every year will want all-wheel drive. And they’ll appreciate the 8.3 inches of ground clearance when the snow piles up. They might also want the heated steering wheel and heated rear seats offered as an optional package in the top two trims.
For a subcompact SUV, luxury or otherwise, the 2023 Volvo XC40 is spacious. The cabin is also well thought-out, packed with quality materials, and comes with a 9-inch infotainment touchscreen oriented vertically.
Volvo front seats are renowned for their comfort and the company doesn’t skimp here, even though the XC40 is the most affordable Volvo SUV. Rear passengers can also be comfortable with a generous 36.1 inches rear legroom.
Cargo space behind the rear seats measures 16 cubic feet. Folding them down produces 46.9 cubic feet. It’s the same whether the XC40 has front-wheel drive or all-wheel drive.
If there’s a gripe, it’s that the Core trim has fabric upholstery, as opposed to simulated leather.
Volvo has made some minor revisions to the 2023 XC40’s outward appearance. It might take the keenest eyes to spot the differences, though. Look at the “Thor’s Hammer” headlights.
The top two trims now come with a choice of Bright or Dark exterior treatments. Pricing is identical.
A major facelift was unnecessary anyway. The XC40 made its debut for the 2019 model year and its shape has been widely received as a successful design.
1. Google Built-In
This is a new operating system for the infotainment setup in every 2023 Volvo XC40, which includes Google Maps. More apps can be added through the Google Play store. It can be controlled by voice, activated by saying, “Hey, Google.” Other aspects include over-the-air updates, plus pairs of USB-C ports front and rear.
2. Digital driver information display
A lot of manufacturers, especially luxury marques, are fitting 12.3-inch displays where the old dials used to go. But it’s still good to see it here, contributing to the high-tech aspect of the 2023 XC40’s cabin.
3. Pilot Assist
As part of the adaptive cruise control feature, Pilot Assist adds steering corrections to keep the XC40 SUV in its lane. It’s not a hands-free system, but takes some of the fatigue out of long journeys. Pilot Assist/adaptive cruise control is offered as an option in Plus trim, or included as standard equipment in the Ultimate version.
4. Harman Kardon 13-speaker/600-watt premium sound system
Another attribute that’s optional in the Plus and standard in the Ultimate. Harman Kardon is a well-known and well-respected maker of great-sounding audio systems.
5. Removable/folding load floor
This handy item can cover a small storage area underneath. And when a section is folded up, it forms a couple of grocery bag holders. While this may seem a bit mundane, sure, we’d rather have this than groceries (or worse, take-out food) sliding all over the cargo area. It comes in at the XC40 Plus trim level.
6. Pixel technology headlights with active bending lights
Available only as an option with the Ultimate trim, these headlights have multiple LEDS for optimum illumination without dazzling anyone else. The active bending lights follow the direction of the steering.
The number of driven wheels determines the drivetrain in a 2023 XC40 SUV. The B4 setup has front-wheel drive and the B5 alternative has all-wheel drive. Both employ a turbocharged 2.0-liter 4-cylinder engine and an 8-speed automatic transmission.
The B4 version develops 194 horsepower and 221 lb-ft of torque. The B5 makes 247 horsepower and 258 lb-ft of torque. Both engines require premium gasoline.
This year sees name changes, since these were known formerly as T4 and T5. Volvo made the shift because every new 2023 XC40 is now augmented by a mild hybrid system. It helps the engine reach its peak output with greater efficiency and smooths out the fuel-saving stop/restart action, but doesn’t improve fuel economy any more than one mile per gallon in city driving.
2.0-liter turbocharged inline-4 (B4)
194 horsepower @ 4,700 rpm
221 lb-ft of torque @ 1,400 rpm
EPA city/highway fuel economy: 24/32 mpg
2.0-liter turbocharged inline-4 (B5)
247 horsepower @ 5,500 rpm
258 lb-ft of torque @1,800 rpm
EPA city/highway fuel economy: 23/30 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 $599 a month for 36 months with $5049.000563 due at signing.
Login or create a new account to see your vehicle depreciation forecast data.
Year | Vehicle Depreciation* | Resale Value | Trade-In Value | ||
---|---|---|---|---|---|
Now | - | $26,457 | $23,192 |
Unlock Forecast
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.
Already Own This Car?
Fuel Capacity | 14.3 gallons | ||
---|---|---|---|
Front Head Room | 39.0 inches | ||
Front Leg Room | 40.9 inches | ||
Max Seating Capacity | 5 | ||
Minimum Ground Clearance | 8.1 inches | ||
Overall Length | 174.8 inches | ||
Front Shoulder Room | 56.7 inches | ||
Towing Capacity, Maximum | 4409 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 | ||
---|---|---|---|
Number of Doors | 4 doors | ||
Privacy Glass | Available | ||
Roof Rails | Available | ||
LED Headlights | Available | ||
Rear Spoiler | Available |
City | 24 mpg | ||
---|---|---|---|
Highway | 32 mpg | ||
Combined | 27 mpg |
Drivetrain | FWD | ||
---|---|---|---|
Transmission Type | Automatic | ||
8 speed | Available | ||
Recommended Fuel | Premium | ||
Hill Descent Control | Available | ||
Hill Start Assist | Available | ||
Parking Assist System | Available |
Horsepower | 194 @ 4750 RPM | ||
---|---|---|---|
Torque | 221 @ 1500 rpm | ||
Engine | 4-Cyl, Turbo, 2.0 Liter | ||
0 to 60 | 7.6 seconds |
Basic | 4 years / 50000 miles | ||
---|---|---|---|
Powertrain | 4 years / 50000 miles | ||
Corrosion | 12 years / Unlimited miles |
Forward collision warning with automatic emergency braking
This is one of the many standard safety systems in every new XC40 and a contributing factor to it earning a Top Safety Pick+ accolade from the Insurance Institute of Highway Safety (IIHS) and a maximum 5-star overall score from the National Highway Traffic Safety Administration (NHTSA). This safety technology also includes pedestrian, cyclist, and large animal detection.
Blind-spot monitoring
Volvo calls this a Blind Spot Information System (BLIS). It comes with steering assistance, cross-traffic alert and automatic emergency braking. It’s another standard feature across the XC40 lineup.
360-degree camera system
All information is good information. This feature gives drivers a complete picture of what’s happening around their lovely and shiny new XC40, adding an audible element with front and rear parking sensors. It’s optional in the mid-range Plus model, and standard in the top Ultimate trim.
Used 2023 Volvo XC40 | Used 2023 BMW X1 | Used 2023 BMW X2 | Used 2023 Audi Q3 | ||
---|---|---|---|---|---|
Price | $29,114 | $33,615 | $28,673 | $31,679 | |
KBB.com Rating | 4.5 | 4.7 | 4.2 | 4.6 | |
Consumer Rating | 4.6 | 4.5 | 4.6 | 3.8 | |
Fuel Economy | City 24/Hwy 32/Comb 27 MPG | City 25/Hwy 34/Comb 28 MPG | City 24/Hwy 32/Comb 27 MPG | City 23/Hwy 30/Comb 26 MPG | |
Fuel Type | Gas | N/A | N/A | N/A | |
Safety Rating | 5.0 | N/A | N/A | 5.0 | |
Seating Capacity | 5 | 5 | 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 | 194 @ 4750 RPM | 241 @ 4500 RPM | 228 @ 5000 RPM | 184 @ 4800 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 | AWD | FWD | 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…
Pricing for the 2023 XC40 small luxury SUV starts at $36,350 and goes up to $46,500 for a version in Ultimate trim with all-wheel drive.
There are some excellent small luxury SUVs, and the 2023 XC40 merits a place among them.
The 2023 Volvo XC40 subcompact luxury SUV is built at the company’s factory in Ghent, Belgium.
Yes, the 2023 Volvo XC40 is a good car, as reflected by its above-average Kelley Blue Book rating of 4.5 out of 5.
2023 Volvo XC40 city/highway fuel economy ratings range from 22/30 mpg to 24/32 mpg, depending on trim and equipment.
Used 2023 Volvo XC40 prices currently range from $29,114 for the B4 Core Sport Utility 4D to $31,789 for the B4 Ultimate Dark Theme Sport Utility 4D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.
The cheapest 2023 Volvo XC40 is the B4 Core Sport Utility 4D, with a Kelley Blue Book Fair Purchase Price of $29,114.
The 2023 Volvo XC40 is part of the 1st-generation XC40, which our owners give an above-average reliability rating of 4.6 out of 5.