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2023 Volvo XC60
#8 Best Luxury Compact SUVs of 2023

Used 2023 Volvo XC60

4.4
rating
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3.7
rating
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2023 Volvo XC60 Exterior: 0
2023 Volvo XC60 Exterior: 1
Exterior (14)
2023 Volvo XC60 Interior: 0
Interior (18)
2023 Volvo XC60 All Media: 1

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2025
2023
Fuel Economy
23 - 28 combined mpg
Horsepower
247 - 455 hp
Seating
5
Cargo Volume
49.3 - 49.8 cu ft
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2023 Volvo XC60 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

  • Classy & roomy interior
  • Fuel-efficient Recharge models
  • Many standard safety features

Cons

  • Pricey Recharge plug-in hybrids

What's New?

  • Trim levels now Core, Plus & Ultimate
  • All XC60 Recharge PHEVs are Extended Range models with 36 miles of pure EV range

No strange grilles, no disappointing interiors, just good sense enlivened with a touch of style. That’s the XC60. Even though this generation has been around since the 2018 model year, it’s still worth checking out.

Especially by those wanting to reduce their fuel bills and carbon footprint. The XC60 Recharge models are plug-in hybrids, capable of running for an impressive 36 miles on battery power alone.

The XC60 has also been given the highest ranking of Top Safety Pick+ by the Insurance Institute for Highway Safety (IIHS). Similarly, the National Highway Traffic Safety Administration (NHTSA) gave it a maximum 5-star overall score.

Volvo deserves a lot of credit, of course, for creating so many safety features over the years. Many rivals have performed just as well in crash tests, but Volvo has done a good job of marketing itself as a leader in this particular field.

It’s also renowned for comfortable seats. Never underestimate the importance of comprehensive cushioning when you’re stuck in a traffic jam or halfway through a long road trip.

2023 Volvo XC60 Pricing

2023 Volvo XC60 pricing starts at $34,520 for the XC60 B5 Core Sport Utility 4D, which had a starting MSRP of $46,845 when new. The range-topping 2023 XC60 T8 Polestar Engineered Sport Utility 4D starts at $51,183 today, originally priced from $75,245.

Original MSRP
KBB Fair Purchase Price (national avg.)
$46,845
$34,520
$51,095
$36,459
$51,095
$38,198
$56,895
$38,732
$56,895
$39,723
$58,295
$40,498
$60,145
$38,232
$60,145
$40,619
$62,545
$37,660
$62,545
$42,830
$68,045
$42,624
$68,045
$48,166
$75,245
$51,183

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 XC60 models in typical condition when purchasing from a dealership. These prices are updated weekly.

Driving the Volvo XC60

Volvo makes the 295-horsepower B6 drivetrain exclusive to just one variant of the 2023 XC60 lineup. Which shows that most buyers who aren’t going down the plug-in hybrid route are happy with the 247-horsepower B5 engine.

The B5 isn’t going to tingle many spines, but it provides the XC60 with an appropriate amount of muscle for a luxury compact SUV. The likelihood of tingling goes up with the B6 and reaches virtual certainty with the XC60 Recharge variants.

Although plug-in hybrid electric vehicles (PHEVs) are concerned primarily with making a gallon of gas go further, the extra muscle from an electric motor can also help to deliver a thrill or three. This year, every XC60 Recharge has a total of 455 horsepower and 523 lb-ft of torque.

That’s a lot, enough to send this 2-ton-plus machine blasting from standstill to 60 mph in a laughably brief 4.5 seconds. Yet in normal driving and using the 36-mile electric-only range, average fuel economy is roughly the equivalent of 63 mpg.

Except for the Polestar Engineered model (more on that in a moment), ride quality is tuned primarily for comfort and composure than for any handling heroics. The most expensive Ultimate trim also offers the option of an adaptive air suspension.

For anyone who wants to spend Porsche Macan money for a luxury compact SUV with a driver’s edge and yet still not end up with a Porsche Macan, there’s the XC60 Polestar Engineered variant.

Sporting the same substantial PHEV drivetrain as the XC60 Recharge, this version has shock absorbers from Öhlins — a highly respected supplier of suspension components and, like Volvo, a Swedish company. Polestar started life as an independent tuning house and has applied its expertise to fitting stiffer springs and a front strut tower bar for a much firmer (but more entertaining) drive.

Interior Comfort

In Core trim, the seating surfaces are simulated leather. The real stuff, leather, comes higher up the pecking order.

One interesting thing, though, is that Volvo offers City Weave fabric in Core models. It’s wool, which sounds like the last thing anyone in Arizona (or similarly hot places) would want, but it’s hard-wearing and retains a pleasant temperature no matter what the weather is doing.

Interior of the 2023 Volvo XC60 T8 eAWD

Then there are the usual touches that are typical of Volvo, like the wonderfully comfortable front seats, the optional booster cushions for the rear seats, and the crystal glass gearshift knob in the Ultimate trim.

The quality of materials is top-notch. Just run a finger along the super-smooth Driftwood inlays (available from the Plus trim) and it’s hard to believe that sandpaper comes in such a fine grade.

Occupant space should be more than sufficient for most people. Rear legroom is an ample 38 inches and the cargo area goes from 17.1 to 63.3 cubic feet with rear sets folded. That also applies to the 2023 XC60 Recharge versions with their extra plug-in hybrid hardware. This is all absolutely great for the class.

Exterior Styling

Along with new trim levels coming in for the 2023 Volvo XC60 lineup, there’s also a choice of bright or dark exterior elements for the Plus and Ultimate versions. There’s no difference in price between dark or light.

The exception is when a non-Recharge XC60 in Core trim is ordered with the more powerful engine, where the bright treatment comes as part of the package.

A styling revision last year has kept this generation of XC60 looking, well, much like it always has. Which is arguably no bad thing.

The Polestar Engineered model wears 21-inch alloy wheels as standard. Available colors range from black to gray to white. The rest of the lineup has a broader choice.

Favorite Features

1. Google/Android infotainment system
Before we go on, Apple CarPlay also is standard in the 2023 XC60. But this is an up-to-date system, favoring apps like Google maps. Users with a Google account can sign in and sync their calendar. It’s also capable of over-the-air updates.

2. 360-degree camera system
When maneuvering in tight spots, this system shows the driver a complete view around the vehicle. Parking sensors front and rear add another layer of reassurance. Standard in the two upper trims.

3. Pilot Assist
Not a hands-free driving feature, but Pilot Assist provides steering assistance with the adaptive cruise control to lessen some of the grind of long journeys. Standard from the Plus trim level.

4. Front seat cushion extensions
Yes, the regular front seats are great. But extra under-thigh support is always welcome, especially for taller types. These are standard in the Ultimate trim.

5. Adaptive air suspension
It’s an exclusive option with Ultimate trim, and it provides superb settings at both ends of the comfort/sport spectrum.

6. Bowers & Wilkins audio
The Ultimate trim has an excellent Harman Kardon setup standard. But this optional 15-speaker/1,400-watt surround-sound system, which costs $3,200, is one of the finest available in any vehicle.

Engine & Transmission

In the lower reaches of the 2023 XC60 luxury SUV lineup, propulsion is supplied by a turbocharged 2.0-liter 4-cylinder engine making 247 horsepower and 258 lb-ft of torque. Referred to by Volvo as the B5 drivetrain, it also has a 48-volt mild hybrid system to help the engine achieve its peak output with optimum efficiency, while also providing a smooth action to the fuel-saving stop/restart function.

Front-wheel drive (FWD) is standard, with all-wheel drive (AWD) available as an option.

The B6 drivetrain, offered solely in the top Ultimate trim, has the same engine as the B5 but boosted to produce 295 horsepower and 310 lb-ft of torque. All-wheel drive is standard with the B6.

This year, Volvo has ditched the non-Extended Range XC60 Recharge variants. That means every version of the 2023 XC60 Recharge T8 eAWD plug-in hybrid can run in electric-only mode for 36 miles. This allows the XC60 Recharge to qualify for maximum federal tax credit and some state incentives.

The T8 setup has a turbocharged 2.0-liter gasoline engine driving the front wheels, accompanied by an electric motor supplying energy to the rear axle. Total T8 output is 455 horsepower and 523 lb-ft of torque.

Charging the T8’s lithium-ion battery to full takes between three to five hours on a 240-volt supply.

All drivetrains in the 2023 Volvo XC60 lineup employ an 8-speed automatic transmission.

2.0-liter turbocharged inline-4/mild hybrid system (B5)
247 horsepower @ 5,400 rpm
258 lb-ft of torque @ 1,800-4,800 rpm
EPA city/highway fuel economy: 23/30 mpg (FWD), 23/29 mpg (AWD)

2.0-liter turbocharged inline 4/mild hybrid system (B6)
295 horsepower @ 5,400 rpm
310 lb-ft of torque @ 2,100-4,800 rpm
EPA city/highway fuel economy: 21/27 mpg

2.0-liter turbocharged inline-4/electric motor (Recharge)
455 combined horsepower
523 lb-ft combined torque
EPA combined fuel economy: 63 MPGe (2022)
EPA-estimated electric-only range: 36 miles (2022)

Test Car

Rear view of a 2023 Volvo XC60 T8 eAWD in grey

The second-generation Volvo XC60 debuted for the 2018 model year and received a comprehensive makeover for 2022. We’ve tested more than a dozen examples, including the 2023 Volvo XC60 Recharge AWD Ultimate Dark Theme pictured here. This one’s coated in Thunder Grey Metallic paint and has a sticker price of $74,690 (view window sticker).

Our testing included a 150-mile roundtrip from Kelley Blue Book headquarters in Irvine, California, to San Diego, with a particular focus on evaluating the adaptive cruise control and lane-keeping functions of Volvo’s Pilot Assist. The adaptive cruise system responded to slowing traffic in a confidence-inspiring manner, brought the vehicle smoothly to a full stop, then resumed promptly when the vehicle ahead started again. It took a bit longer to gain faith in the lane-keeping system – it’s not quite as smooth and proactive as other top systems — but it ultimately earned a solid passing grade. The trip included a mix of full-speed and stop-and-go driving, and a vast majority of the drive was spent with feet off the pedals and only a light hand on the steering wheel.

 


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2023 Volvo XC60
KBB.com Consumer Reviews

3.7
Consumer Rating
Based on 86 Consumer Reviews
Write a Review
55%Recommend this vehicle
5
44%
5
44%
4
20%
4
20%
3
12%
3
12%
2
9%
2
9%
1
15%
1
15%
Value
3.6
Performance
4.1
Quality
3.7
Comfort
4.4
Reliability
3.6
Styling
4.5

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2023 Volvo XC60 Styles

Style
Price
Combined Fuel Economy
EV Range
Horsepower
Seating
Cargo Capacity
Engine
Towing Capacity
Drivetrain
B5 Core Sport Utility 4D
$34,520
25 MPG
36 - 36 miles
247 @ 5400 RPM
5
49.8 cu ft
4-Cyl, Drive-E, Turbo, 2.0 Liter
5291 lbs
AWD
B5 Plus Bright Theme Sport Utility 4D
$36,459
25 MPG
36 - 36 miles
247 @ 5400 RPM
5
49.8 cu ft
4-Cyl, Drive-E, Turbo, 2.0 Liter
5291 lbs
AWD
T8 Recharge Plus Bright Theme Sport Utility 4D
$37,660
28 MPG
36 - 36 miles
455 @ 6000 RPM
5
49.3 cu ft
4-Cyl, Drive-E, Hybrid, Turbo, Supercharged, 2.0 Liter
4960 lbs
AWD
B5 Plus Dark Theme Sport Utility 4D
$38,198
25 MPG
36 - 36 miles
247 @ 5400 RPM
5
49.8 cu ft
4-Cyl, Drive-E, Turbo, 2.0 Liter
5291 lbs
AWD
B6 Ultimate Bright Theme Sport Utility 4D
$38,232
23 MPG
36 - 36 miles
295 @ 5400 RPM
5
49.8 cu ft
4-Cyl, Drive-E, Turbo, Supercharged, 2.0 Liter
5291 lbs
AWD
B5 Ultimate Dark Theme Sport Utility 4D
$38,732
25 MPG
36 - 36 miles
247 @ 5400 RPM
5
49.8 cu ft
4-Cyl, Drive-E, Turbo, 2.0 Liter
5291 lbs
AWD
B5 Ultimate Bright Theme Sport Utility 4D
$39,723
25 MPG
36 - 36 miles
247 @ 5400 RPM
5
49.8 cu ft
4-Cyl, Drive-E, Turbo, 2.0 Liter
5291 lbs
AWD
B6 Ultimate Dark Theme Sport Utility 4D
$40,619
23 MPG
36 - 36 miles
295 @ 5400 RPM
5
49.8 cu ft
4-Cyl, Drive-E, Turbo, Supercharged, 2.0 Liter
5291 lbs
AWD
T8 Recharge Core Sport Utility 4D
$40,498
28 MPG
36 - 36 miles
455 @ 6000 RPM
5
49.3 cu ft
4-Cyl, Drive-E, Hybrid, Turbo, Supercharged, 2.0 Liter
4960 lbs
AWD
T8 Recharge Ultimate Bright Theme Sport Utility 4D
$42,624
28 MPG
36 - 36 miles
455 @ 6000 RPM
5
49.3 cu ft
4-Cyl, Drive-E, Hybrid, Turbo, Supercharged, 2.0 Liter
4960 lbs
AWD
T8 Recharge Plus Dark Theme Sport Utility 4D
$42,830
28 MPG
36 - 36 miles
455 @ 6000 RPM
5
49.3 cu ft
4-Cyl, Drive-E, Hybrid, Turbo, Supercharged, 2.0 Liter
4960 lbs
AWD
T8 Recharge Ultimate Dark Theme Sport Utility 4D
$48,166
28 MPG
36 - 36 miles
455 @ 6000 RPM
5
49.3 cu ft
4-Cyl, Drive-E, Hybrid, Turbo, Supercharged, 2.0 Liter
4960 lbs
AWD
T8 Polestar Engineered Sport Utility 4D
$51,183
28 MPG
36 - 36 miles
328 @ 6000 RPM
5
N/A
4-Cyl, Drive-E, Hybrid, Turbo, Supercharged, 2.0 Liter
N/A
AWD
See Full Specs for All 2023 Volvo XC60 Styles
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2023 Volvo XC60 Depreciation

A 2023 Volvo XC60 has depreciated $15,471 or 33% in the last 2 years and has a current resale value of $31,374 and trade-in value of $27,729.

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2023 Volvo XC60
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2023 Volvo XC60 Annual Depreciation

Year
Vehicle Depreciation*
Resale Value
Trade-In Value
2023
-
$46,845
$46,845
2024
$10,319
$36,526
$32,700
Now
$5,152
$31,374
$27,729
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2-Year Forecasted Depreciation

*Depreciation for the last 12 months of the private party resale value.

2023 Volvo XC60 Depreciation

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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Specifications

Dimensions, Weights & Capacities

Fuel Capacity
18.8 gallons
Front Head Room
38.0 inches
Front Leg Room
41.5 inches
Max Seating Capacity
5
Minimum Ground Clearance
8.2 inches
Overall Length
185.4 inches
Front Shoulder Room
58.2 inches
Towing Capacity, Maximum
5291 lbs.
Trunk or Cargo Capacity
49.8 cu.ft.
Turning Diameter
37.4 feet
Wheel Base
112.8 inches
Width with mirrors
83.3 inches

Exterior

Alloy Wheels
Available
Fog Lights
Available
Number of Doors
4 doors
Panorama Moon Roof
Available
Privacy Glass
Available
Roof Rails
Available
LED Headlights
Available

Fuel Economy

City
23 mpg
Highway
29 mpg
Combined
25 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 @ 5400 RPM
Torque
258 @ 1800 rpm
Engine
4-Cyl, Drive-E, Turbo, 2.0 Liter

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

  • Power Windows
  • Rear Window Defroster
  • Steering Wheel Controls
  • Tilt Steering Wheel
  • Tilt/Telescoping Steering Wheel

Seating

  • Folding Rear Seat
  • Cloth Seats
  • Heated Seats
  • Heated Rear Seats
  • Dual Power Front Seats
  • Power Driver's Seat

Security

  • Alarm System

Technology

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

2023 Volvo XC60 Safety

2023 Volvo XC60 Safety Technology

Forward collision warning

Standard in every new XC60 luxury compact SUV, this system includes automatic emergency braking, plus pedestrian and cyclist detection.

Blind Spot Information System (BLIS)

Also known as blind-spot monitoring, this is another standard feature is joined by cross-traffic alert, steering assistance, and automatic emergency braking.

Oncoming Lane Mitigation

If it looks like the XC60 is about to cross over the dividing line, this standard feature activates enough steering correction to get this Swedish SUV back in its own lane.

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

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Volvo XC60
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Mercedes-Benz GLC
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Mercedes-Benz GLB
New 2025
Volvo XC60
See Details
Price
$34,520
$38,726
$33,318
$48,345
KBB.com Rating
4.4
4.7
4.3
4.4
Consumer Rating
3.7
5.0
4.2
3.7
Fuel Economy
City 23/Hwy 29/Comb 25 MPG
City 25/Hwy 32/Comb 28 MPG
City 24/Hwy 32/Comb 27 MPG
City 23/Hwy 30/Comb 26 MPG
Fuel Type
Gas
N/A
N/A
Gas
Safety Rating
5.0
N/A
N/A
5.0
Seating Capacity5575
Basic Warranty
4 years or 50000 miles
4 years or 50000 miles
4 years or 50000 miles
4 years or 50000 miles
Horsepower
247 @ 5400 RPM
255 @ 58 RPM
221 @ 5500 RPM
247 @ 5400 RPM
Engine
4-Cyl, Drive-E, Turbo, 2.0 Liter
4-Cyl, MHEV, Turbo, 2.0 Liter
4-Cyl, Turbo, 2.0 Liter
4-Cyl, Turbo, 2.0 Liter
Drivetrain
AWD
AWD
FWD
AWD

2023 Volvo XC60 Rankings

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FAQs

How much is a 2023 Volvo XC60?

Pricing of the 2023 Volvo XC60 starts off like many other luxury compact SUVs from Europe. It has an MSRP of $43,450, but that can climb into Porsche Macan territory with the Polestar Engineered, a plug-in hybrid version of the XC60 that starts at just over $74K.

Is the 2023 Volvo XC60 a good SUV?

There are enough positives to call the 2023 XC60 a good SUV, especially the amount of standard safety features and the fuel-efficient plug-in hybrid version. But it’s getting a little old now in automotive terms and several newer rivals are tempting.

Where is the 2023 Volvo XC60 made?

The 2023 XC60 SUV is built at Volvo’s factory in Torslanda, Sweden.

Is the 2023 Volvo XC60 a good vehicle?

Yes, the 2023 Volvo XC60 is a good car, as reflected by its above-average Kelley Blue Book rating of 4.4 out of 5.

How much should a 2023 Volvo XC60 cost?

Used 2023 Volvo XC60 prices currently range from $34,520 for the B5 Core Sport Utility 4D to $51,183 for the T8 Polestar Engineered Sport Utility 4D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.

What's the cheapest Volvo XC60?

The cheapest 2023 Volvo XC60 is the B5 Core Sport Utility 4D, with a Kelley Blue Book Fair Purchase Price of $34,520.

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