By Colin Ryan
Updated January 30, 2025
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.
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
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.
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.
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.
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.
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)
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.
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).
Lease a new 2024 XC40 Recharge Twin Ultimate for $669 a month for 36 months with $4255 due at signing.
The 2024 Volvo XC40 is in the middle 26-75% for Cost to Own among all Luxury Subcompact SUV/Crossovers.
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 |
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 |
City | 24 mpg | ||
---|---|---|---|
Highway | 30 mpg | ||
Combined | 26 mpg |
Drivetrain | AWD | ||
---|---|---|---|
Transmission Type | Automatic | ||
8 speed | Available | ||
Recommended Fuel | Premium | ||
Hill Descent Control | Available | ||
Hill Start Assist | Available | ||
Parking Assist System | Available |
Horsepower | 247 @ 5700 RPM | ||
---|---|---|---|
Torque | 258 @ 1800 rpm | ||
Engine | 4-Cyl, Turbo, 2.0 Liter | ||
0 to 60 | 6.1 seconds |
Basic | 4 years / 50000 miles | ||
---|---|---|---|
Powertrain | 4 years / 50000 miles | ||
Corrosion | 12 years / Unlimited miles |
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.
New 2024 Volvo XC40 | New 2024 BMW X1 | New 2024 Mercedes-Benz GLA | New 2024 BMW X2 | ||
---|---|---|---|---|---|
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 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 | 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 |
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 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.
The 2024 Volvo XC40 is rated to return city/highway fuel economy of 24/30 mpg.
A 2024 Volvo XC40 should cost between $37,974 and $46,280 according to Kelley Blue Book Fair Purchase Pricing.
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.
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.