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2024 Volvo XC40
#3 Best Luxury Subcompact SUVs of 2024

Used 2024 Volvo XC40

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4.6
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2026
2024
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Electric Variation Available

Fuel Economy
26 combined mpg
Horsepower
247 hp
Seating
5
Cargo Volume
57.5 cu ft
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2024 Volvo XC40 Review

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

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

2024 Volvo XC40 pricing starts at $25,000 for the XC40 B5 Core Dark Theme Sport Utility 4D, which had a starting MSRP of $41,495 when new. The range-topping 2024 XC40 B5 Ultimate Dark Theme Sport Utility 4D starts at $32,500 today, originally priced from $50,195.

Original MSRP
KBB Fair Purchase Price (national avg.)
$41,495
$25,000
$41,495
$27,300
$46,395
$29,200
$46,395
$29,900
$50,195
$31,100
$50,195
$32,500

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 2024 Volvo XC40 models in typical condition when purchasing from a dealership. These prices are updated weekly.

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).


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New Volvo XC40 Deals and Incentives

APR

0.99% APR | 36 months

Get 0.99% APR for 36 months on a new 2026 XC40 B5 AWD Ultra Black Edition.

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End Date: 02/02/2026
LEASE

$639 /mo | 36 months | Due at Signing

Lease a new 2026 XC40 B5 AWD Ultra Black Edition for $639 a month for 36 months with $4589 due at signing.

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End Date: 02/02/2026
See All Current XC40 Deals

2024 Volvo XC40
KBB.com Consumer Reviews

4.6
Consumer Rating
Based on 26 Consumer Reviews
Write a Review
88%Recommend this vehicle
2
0%
2
0%
Value
4.4
Performance
4.6
Quality
4.5
Comfort
4.8
Reliability
4.5
Styling
4.9

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2024 Volvo XC40 Styles

Style
Price
Combined Fuel Economy
Horsepower
Seating
Cargo Capacity
Engine
Towing Capacity
0-60
Curb Weight
B5 Core Dark Theme Sport Utility 4D
$25,000
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 Bright Theme Sport Utility 4D
$27,300
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 Sport Utility 4D
$29,200
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 Sport Utility 4D
$29,900
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 Sport Utility 4D
$31,100
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 Sport Utility 4D
$32,500
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
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2024 Volvo XC40 Depreciation

A 2024 Volvo XC40 has depreciated $18,095 or 43% in the last 2 years and has a current resale value of $23,400 and trade-in value of $21,200.

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2024 Volvo XC40
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2024 Volvo XC40 Annual Depreciation

Year
Vehicle Depreciation*
Resale Value
Trade-In Value
2024
-
$41,495
$41,495
2025
$7,631
$33,864
$30,398
Now
$10,464
$23,400
$21,200
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2-Year Forecasted Depreciation

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

2024 Volvo XC40 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

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
Available

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

Safety Features & 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

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See Details
Price
$25,000
$26,400
$30,900
$29,600
KBB.com Rating
4.5
4.8
4.7
4.5
Consumer Rating
4.6
3.6
4.5
5.0
Fuel Economy
City 24/Hwy 30/Comb 26 MPG
City 27/Hwy 32/Comb 29 MPG
City 25/Hwy 34/Comb 28 MPG
City 25/Hwy 34/Comb 28 MPG
Fuel Type
Gas
Gas
N/A
N/A
Safety Rating
5.0
N/A
4.0
N/A
Seating Capacity5555
Basic Warranty
4 years or 50000 miles
3 years or 36000 miles
4 years or 50000 miles
4 years or 50000 miles
Horsepower
247 @ 5700 RPM
190 @ 6000 RPM
241 @ 5750 RPM
221 @ 5500 RPM
Engine
4-Cyl, Turbo, 2.0 Liter
4-Cyl, Turbo, 1.5 Liter
4-Cyl, Turbo, 2.0 Liter
4-Cyl, Turbo, 2.0 Liter
Drivetrain
AWD
AWD
AWD
FWD

2024 Volvo XC40 Rankings

More Volvo XC40 News & Information

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Learn about the interior of the 2025 Volvo XC40 and decide if this compact luxury sedan is right for you.

Michael Strong July 31, 2025
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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
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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 vehicle?

Yes, the 2024 Volvo XC40 is a good car, as reflected by its above-average Kelley Blue Book rating of 4.5 out of 5.

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?

Used 2024 Volvo XC40 prices currently range from $25,000 for the B5 Core Dark Theme Sport Utility 4D to $32,500 for the B5 Ultimate Dark Theme Sport Utility 4D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.

What's the cheapest Volvo XC40?

The cheapest 2024 Volvo XC40 is the B5 Core Dark Theme Sport Utility 4D, with a Kelley Blue Book Fair Purchase Price of $25,000.

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 4.5 out of 5.

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