Kelley Blue Book


HomeVolvoVolvo XC40
2024 Volvo XC40
#3 Best Luxury Subcompact SUVs

2024 Volvo XC40

4.5
rating
Expert
4.6
rating
Consumer
Write a Review
Save this car
2024 Volvo XC40 Exterior: 0
2024 Volvo XC40 Lifestyle: 0
Lifestyle (3)
2024 Volvo XC40 Colors: 0
Colors (9)
2024 Volvo XC40 All Media: 1

View All Media

2025
2024
leaf_icon_picture

Electric Variation Available

Fuel Economy
26 combined mpg
Horsepower
247 hp
Seating
5
Cargo Volume
57.5 cu ft
Next Steps: Shopping for this car?
See Cars for Sale

2024 Volvo XC40 Review

Colin Ryan

By Colin Ryan

Updated January 30, 2025

Colin Ryan specializes in writing about new cars. He has done this for the Los Angeles Times, Variety, Kelley Blue Book, Autotrader, Popular Mechanics, Mazda and Lexus customer magazines, plus a bunch of enthusiast sites and publications. And he spent several years as a staff writer at BBC Top Gear magazine. During this zig-zag of a career trajectory, he has driven everything from budget Malaysian hatchbacks (yes, they exist) to scarily expensive Italian exotica.

Pros

  • Stylish and safe
  • All-wheel drive standard
  • Decent resale values

Cons

  • So-so cargo space

What's New?

  • Smaller engine gone
  • More standard equipment
  • New colors

The 2024 Volvo XC40 subcompact luxury SUV is an excellent package of style, safety equipment, comfort, and technology. Pricing starts at $41,295.

This year, Volvo simplifies the choices, offering just one drivetrain — no complaints in this regard — and adding some previously optional features to the list of standard equipment. In general, we really like the XC40 all the way from its exterior design to its Google-based infotainment system (Apple CarPlay is also included) and appreciate its comprehensive set of safety features.

The subcompact footprint and practical shape of the XC40 also make it easy to park, while still being able to accommodate four adults.

The all-electric Volvo XC40 Recharge is reviewed separately.

What's New for 2024

The front-drive setup didn’t make it into 2024, so every new XC40 has all-wheel drive and a more powerful engine. The base Core trim also gains wireless charging and keyless entry/ignition, plus 19-inch alloy wheels, a 360-degree camera system, and a cabin air purifier. Ultimate trim receives pixel headlight technology with cornering lights, 20-inch alloy wheels, and powered child locks for the rear doors. These additions used to be optional.

Cloud Blue and Vapour Grey Metallic are new paint choices, while Black Stone and Thunder Grey Metallic are ditched. The exterior’s “Base” theme is replaced by a “Bright” theme. This is just a minor change on what we feel is an agreeable-looking SUV

2024 Volvo XC40 Pricing

The 2024 Volvo XC40 has a starting sticker price of $41,295, with the range-topping XC40 B5 Ultimate Dark Theme kicking off at $49,995. But Kelley Blue Book Fair Purchase Pricing currently suggests paying $2,986 to $3,925 less than MSRP, depending on trim and equipment. These prices are updated weekly.

MSRP
KBB Fair Purchase Price (national avg.)
$41,295
$37,974
$41,295
$38,309
$46,195
$42,508
$46,195
$42,633
$49,995
$46,070
$49,995
$46,280

For a bit of context, the Audi Q3, BMW X1 and Mercedes-Benz GLA are in the same financial ballpark as the XC40, with the Lexus UX a couple of grand or so lower.

Before buying a new XC40 SUV, check the Kelley Blue Book Fair Purchase Price to know what you should be paying. Along with the Lexus UX, the XC40 has some of the strongest resale values in this class.

Power, Ride and Handling

The 2024 Volvo XC40 features a strong 247-horsepower turbocharged 4-cylinder engine capable of transporting the vehicle and its occupants from zero to 60 mph in a swift 6.1 seconds. In less extreme applications, we’ve found the XC40 distinguished by a pleasant effortlessness. It’s comfortable on the highway, easy around town, and almost calming relative to something a bit more high-strung like the BMW X1. It may be the smallest and most affordable Volvo SUV, but the XC40 is a true Volvo, through and through.

We’ve spent hundreds of hours driving and researching the current collection of subcompact luxury SUVs, including the XC40.

Ergonomic Interior

For a subcompact SUV, luxury or otherwise, the 2024 XC40 is spacious. We also think the cabin is well thought-out. It’s 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. Rear passengers can also be comfortable with 36.1 inches rear legroom. That’s on the low side for the segment, but our 6-foot editors confirmed having plenty of room.

We’ve found the only area that doesn’t compare quite so well with the competition is luggage space behind the rear seats, which is adequate at 16 cubic feet, but smaller than the Audi Q3 and BMW X1.

Our Favorite Features and Tech

Google built-in
This infotainment operating system includes Google Maps. 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. More apps can be added through the Google Play store, including Waze.

Digital driver information display
A lot of manufacturers, especially luxury marques, are fitting 12.3-inch displays where the old dials used to go, contributing to the cabin’s high-tech feel. It’s standard in the XC40.

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 are offered as an option in Plus trim, or included as standard in the Ultimate version.

Harman Kardon 13-speaker/600-watt premium sound system
Offered as an upgrade, Harman Kardon is a well-known and well-respected maker of great-sounding audio systems.

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. It all seems a bit mundane, sure, but we’d rather have this than have groceries (or worse, take-out food) sliding all over the cargo area. It comes in at the Plus trim level.

Pixel technology headlights with active bending lights
Newly standard with the Ultimate trim, these headlights have multiple LEDS for optimum illumination without dazzling anyone else. And the active bending lights follow the direction of the steering.

Engine & Transmission

A turbocharged 2.0-liter 4-cylinder engine endows the 2024 XC40 with 247 horsepower and 258 lb-ft of torque. An 8-speed automatic transmission sends drive to all four wheels.

The presence of an electric motor under the hood makes this drivetrain a mild hybrid, although the most perceptible asset is the smooth engine stop/restart action.

Premium gasoline is required, and the maximum towing capacity is 3,500 pounds — which is impressive in this sector.

2.0-liter turbocharged 4-cylinder engine
247 horsepower @ 5,500 rpm
258 lb-ft of torque @ 1,800 rpm
EPA combined fuel economy (2023): 26 mpg (23 city, 30 highway)

4-Year/50,000-Mile Warranty

Volvo’s new-vehicle warranty and powertrain coverage is four years or 50,000 miles, whichever happens first. This is common protection among European luxury vehicles.

Safety Ratings

The XC40 has earned a Top Safety Pick+ accolade from the Insurance Institute for Highway Safety (IIHS) and a maximum 5-Star overall score from the National Highway Traffic Safety Administration (NHTSA).


What did you think of this review?

More About How We Rate Vehicles
Advertisement

Cars You May Like

We’ve Rounded Up Cars That Could Be Your Perfect Match.

2024 Volvo XC40 Deals and Incentives

LEASE

$669 /mo | 36 months | Due at Signing

Lease a new 2024 XC40 Recharge Twin Ultimate for $669 a month for 36 months with $4255 due at signing.

See more details

End Date: 04/30/2025
See All Current XC40 Deals

2024 Volvo XC40
KBB.com Consumer Reviews

4.6
Consumer Rating
Based on 22 Consumer Reviews
Write a Review
90%Recommend this vehicle
5
86%
5
86%
4
5%
4
5%
3
0%
3
0%
2
0%
2
0%
1
9%
1
9%
Value
4.4
Performance
4.6
Quality
4.6
Comfort
4.8
Reliability
4.6
Styling
4.9

Trending Topics in KBB.com Consumer Reviews

Advertisement

2024 Volvo XC40 Styles

Style
Price
Combined Fuel Economy
Horsepower
Seating
Cargo Capacity
Engine
Towing Capacity
0-60
Curb Weight
B5 Core Bright Theme
$37,974
26 MPG
247 @ 5700 RPM
5
57.5 cu ft
4-Cyl, Turbo, 2.0 Liter
3500 lbs
6.1 seconds
3806 lbs
B5 Core Dark Theme
$38,309
26 MPG
247 @ 5700 RPM
5
57.5 cu ft
4-Cyl, Turbo, 2.0 Liter
3500 lbs
6.1 seconds
3806 lbs
B5 Plus Bright Theme
$42,508
26 MPG
247 @ 5700 RPM
5
57.5 cu ft
4-Cyl, Turbo, 2.0 Liter
3500 lbs
6.1 seconds
3806 lbs
B5 Plus DarkTheme
$42,633
26 MPG
247 @ 5700 RPM
5
57.5 cu ft
4-Cyl, Turbo, 2.0 Liter
3500 lbs
6.1 seconds
3806 lbs
B5 Ultimate Bright Theme
$46,070
26 MPG
247 @ 5700 RPM
5
57.5 cu ft
4-Cyl, Turbo, 2.0 Liter
3500 lbs
6.1 seconds
3806 lbs
B5 Ultimate Dark Theme
$46,280
26 MPG
247 @ 5700 RPM
5
57.5 cu ft
4-Cyl, Turbo, 2.0 Liter
3500 lbs
6.1 seconds
3806 lbs
See Full Specs for All 2024 Volvo XC40 Styles
Advertisement

2024 Volvo XC40 Cost to Own

$61,527
A 2024 Volvo XC40 has a 5-year cost-to-own of $61,527. After 5 years a 2024 XC40 will depreciate $26,271 and have a residual value of $15,024. During this time out-of-pocket expenses are expected to total $35,256.
Personalize your 5-Year Cost to Own data by logging in.
Average Costs

The 2024 Volvo XC40 is in the middle 26-75% for Cost to Own among all Luxury Subcompact SUV/Crossovers.

2024 Volvo XC40 5-Year Depreciation: $26,271
2024 Volvo XC40
Compare up to 3 vehicles by logging in.
5-Year Out of Pocket Expenses:$35,256
See New Car Incentives
Fuel:
$8,279
Insurance:
$14,340
Financing:
$4,810
State Fees:
$3,039
Maintenance:
$2,919
Repairs:
$1,869
Total: $35,256
See New Car Incentives
2024 Volvo XC40 Cost to Own
5-Year Cost to Own includes out of pocket expenses like fuel, insurance, service & financing, plus the car's loss in value over time (depreciation).
5-Year Depreciation:$26,271
5-Year Out of Pocket Expenses:$35,256

5-Year Cost To Own$61,527
Is this information helpful?
See Cars for Sale

Specifications

Dimensions, Weights & Capacities

Curb Weight
3806 lbs.
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
174.8 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

Exterior

Alloy Wheels
Available
Moon Roof/Sun Roof
Available
Number of Doors
4 doors
Panorama Moon Roof
Available
Privacy Glass
Available
Roof Rails
Available
LED Headlights
Available
Rear Spoiler
Port Installed

Fuel Economy

City
24 mpg
Highway
30 mpg
Combined
26 mpg

Mechanical

Drivetrain
AWD
Transmission Type
Automatic
8 speed
Available
Recommended Fuel
Premium
Hill Descent Control
Available
Hill Start Assist
Available
Parking Assist System
Available

Performance

Horsepower
247 @ 5700 RPM
Torque
258 @ 1800 rpm
Engine
4-Cyl, Turbo, 2.0 Liter
0 to 60
6.1 seconds

Warranty

Basic
4 years / 50000 miles
Powertrain
4 years / 50000 miles
Corrosion
12 years / Unlimited miles

Comfort & Convenience

  • Heated Steering Wheel

Entertainment

  • Premium Radio
  • Satellite Radio
  • Bluetooth Streaming Audio

Interior

  • Leather-Wrapped Steering Wheel
  • Power Windows
  • Steering Wheel Controls
  • Tilt Steering Wheel
  • Tilt/Telescoping Steering Wheel

Seating

  • Leather Seats
  • Folding Rear Seat
  • Cloth Seats
  • Heated Seats
  • Heated Rear Seats
  • Power Driver's Seat

Security

  • Alarm System

Technology

  • Bluetooth Wireless Technology
  • Cruise Control
  • Hands Free Phone
  • Navigation System
  • Remote Keyless Entry
  • Push-Button Engine Start
  • Smartphone Interface
  • USB Port
  • Voice Recognition System

2024 Volvo XC40 Safety

2024 Volvo XC40 Safety Technology

Forward collision warning with automatic emergency braking

One of the many standard safety systems in every new XC40 subcompact SUV, it includes detection of pedestrians, cyclists, and large animals.

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, shiny new XC40, adding an audible element with front and rear parking sensors. It’s optional in the mid-range Plus model, standard in the top Ultimate trim.

5.0

Crash Test Rating

Provided by the National Highway Traffic Safety Administration
Frontal Crash
5.0
Side Barrier
5.0
Rollover Rating
4.0
Side Crash
5.0

Compare to Similar Vehicles

New 2024
Volvo XC40
New 2024
BMW X1
New 2024
Mercedes-Benz GLA
New 2024
BMW X2
See Details
Price
$41,295
$41,495
$42,900
$42,995
KBB.com Rating
4.5
4.7
4.5
4.3
Consumer Rating
4.6
4.5
5.0
N/A
Fuel Economy
City 24/Hwy 30/Comb 26 MPG
City 25/Hwy 34/Comb 28 MPG
City 25/Hwy 34/Comb 28 MPG
City 24/Hwy 33/Comb 28 MPG
Fuel Type
Gas
N/A
N/A
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).
$61,527
$53,969
$79,553
$59,611
Safety Rating
5.0
4.0
N/A
N/A
Seating Capacity5555
Basic Warranty
4 years or 50000 miles
4 years or 50000 miles
4 years or 50000 miles
4 years or 50000 miles
Horsepower
247 @ 5700 RPM
241 @ 5750 RPM
221 @ 5500 RPM
241 HP
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
AWD
AWD
FWD
AWD

Best SUVs

The 2024 Volvo XC40 was ranked one of the Best Luxury Subcompact SUVs by KBB.com’s in-house editors based on performance, reliability, safety and more. Check out the entire list of Best Luxury Subcompact SUVs to see how it compared to the competition. Read how we rate cars
#3

Best Luxury Subcompact Suvs

#1
2025 BMW X1
#2
2025 Audi Q3
#3
2025 Mercedes-Benz GLA
#3
2024 Volvo XC40
See All Best Luxury Subcompact Suvs

More Volvo XC40 News & Information

General
Volvo Renames Two EVs; Gives One a Year Off

Volvo will drop the “Recharge” name from all its EVs and PHEVs for 2025.

Sean Tucker January 22, 2025
Electric Vehicle
Volvo XC40 Recharge Deliveries Held Up at Ports Entering Country

Buyers who have ordered a new Volvo XC40 Recharge electric SUV are waking up to emails from Volvo explaining why…

Sean Tucker March 03, 2021

FAQs

Is the 2024 Volvo XC40 a good buy?

The 2024 Volvo XC40 is a good buy for most Luxury Subcompact SUV/Crossover shoppers. It gets strong ratings from our experts and most buyers are paying less than sticker price.

What is the MPG for a 2024 Volvo XC40?

The 2024 Volvo XC40 is rated to return city/highway fuel economy of 24/30 mpg.

How much should a 2024 Volvo XC40 cost?

A 2024 Volvo XC40 should cost between $37,974 and $46,280 according to Kelley Blue Book Fair Purchase Pricing.

What's the cheapest Volvo XC40?

The cheapest 2024 Volvo XC40 is the B5 Core Bright Theme, with a starting sticker price of $41,295 and a Kelley Blue Book Fair Purchase Price of $37,974.

Is the 2024 Volvo XC40 reliable?

The 2024 Volvo XC40 is part of the 1st-generation XC40, which our owners give an above-average reliability rating of 4.6 out of 5.

Also from Volvo

  • 2025 Volvo EC40
  • 2025 Volvo EX30
  • 2025 Volvo EX40
  • 2025 Volvo EX90
  • 2025 Volvo S60
  • 2025 Volvo S90
  • 2025 Volvo V60
  • 2025 Volvo V90
  • 2025 Volvo XC60
  • 2025 Volvo XC90
  • 2024 Volvo C40 Recharge
  • 2024 Volvo XC40 Recharge
Advertisement