2023 & 2024 Volvo XC40 - Exclusive Ashburn New Car Discounts
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Learn More About The Volvo XC40
What you must know before purchasing your XC40. Use this pricing analysis to negotiate the best price with the dealer.
Highlights:
Volvo XC40 Tax Credit
The Volvo XC40 Recharge does not qualify for a $7,500 federal tax credit. When the Inflation Reduction Act was signed into law, a variety of EVs and plug-ins lost their eligibility due to North American sourcing requirements.
However, an EV lease tax credit loophole allows Volvo to claim a commercial credit on XC40 Recharge leases. This may make it substantially more affordable to lease an XC40 EV rather than to buy it.
Volvo XC40 Clean Vehicle Rebate
The Volvo XC40 Recharge qualifies for plug-in rebates in some parts of the country.
For example, in California, the CVRP (Clean Vehicle Rebate Project) offers a $2,000 incentive that you an apply for after buying or leasing your EV. There are also larger award amounts worth up to $7,500 for low-income applicants.
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Introduction
2024 Volvo XC40 Changes
The 2024 Volvo XC40 is no longer available with front-wheel drive or the base 194-horspower B4 powertrain for 2024. The B5 powertrain with the turbo four-cylinder engine and all-wheel drive is the new base configuration. The base Core trim now comes with a Bright Exterior theme that includes shiny exterior trim pieces, while keyless entry and a wireless charging pad are standard. The Plus trim now comes with a surround-view parking camera, larger 19-inch wheels, and an air purifier. Lastly, the Ultimate trim gains 20-inch wheels, and cornering lights as standard.
The all-electric XC40 Recharge gets a few changes for 2024, too. The EV arrives with a new 248-hp Single Motor variant with rear-wheel drive. The new trim also includes a larger 82-kWh battery pack. Volvo has not announced pricing for the model yet. Twin Motor models with AWD get updated electric motors to improve efficiency, which increases range. Dual-motor XC40 Recharge models can now travel up to 254 miles.
Choosing Your 2024 Volvo XC40
The 2024 Volvo XC40 is available in three trims: Core, Plus, and Ultimate. Prices range from $41,395 to $50,095. The all-electric XC40 Recharge is available in the same trim levels. Volvo hasn’t announced pricing for the new XC40 Recharge with the single motor and RWD yet. Pricing for the XC40 Recharge Twin Motor models ranges from $56,645 to $60,595.
2024 Volvo XC40 Engine Options
Volvo offers the 2024 XC40 with a single engine, while the XC40 Recharge is available with two powertrains. The gas-powered subcompact SUV comes with standard AWD and an eight-speed automatic transmission. The gas engine features a mild-hybrid system.
The XC40 Recharge is available for two different powertrains for 2024. The base Single Motor version comes with RWD and the Twin Motor model comes with AWD.
| Engine Type | Horsepower | Torque |
| 2.0-Liter Turbo 4-Cylinder (AWD) | 247 hp | 258 lb-ft |
| Single Electric Motor (RWD) | 248 hp | 310 lb-ft |
| Dual Electric Motors (AWD) | 402 hp | 486 lb-ft |
2024 Volvo XC40 Fuel Economy
With the gas engine, the 2024 Volvo XC40 is rated at up to 26 mpg combined (24 mpg in the city and 30 mpg on the highway).
The new XC40 Recharge Single Motor version comes with an 82-kWh battery pack that delivers up to 293 miles of range. The electric SUV can get up to 106 MPGe combined, which breaks down to 118 MPGe city and 95 mpg highway.
The dual-motor XC40 Recharge Twin Motor comes with a 78-kWh battery pack that results in a range of up to 254 miles. The AWD model is rated at up to 98 MPGe combined (106 mpg city and 90 mpg hwy).
2024 Volvo XC40 Towing Capacity
The gas-powered 2024 Volvo XC40 can tow up to 3,500 pounds, a stout figure for the subcompact SUV class, when properly equipped. The all-electric XC40 Recharge can tow up to 2,000 pounds.
2024 Volvo XC40 Dimensions & Cargo Capacity
The 2024 XC40 is a subcompact SUV that’s 174.8 inches long, 75.2 inches wide, and 65.2 inches tall. The SUV offers seating for up to five people. Passengers in the back get 38.3 inches of headroom and 36.1 inches of legroom.
When it comes to cargo space, the XC40 has 16 cubic feet of space with the rear seats in place and 57.5 cubic feet of total cargo space. The XC40 Recharge has the same cargo capacity as the gas-powered model.
2024 Volvo XC40 Safety
Every 2024 Volvo XC40 comes packed with safety features that include forward collision warning, automatic emergency braking, traffic sign recognition, lane departure warning, lane keeping assist, blind spot monitoring, rear cross-traffic alert, and rear parking sensors.
Stepping up to the Core trim brings a surround-view parking camera, as well as front and side parking sensors. The Ultimate trim gets adaptive cruise control and Volvo’s Pilot Assist system that can handle most of the driving tasks on the highway.
2024 Volvo XC40 Technology
On the tech front, the 2024 Volvo XC40 comes standard with a nine-inch touchscreen, Android Auto, Apple CarPlay, eight audio speakers, Bluetooth, satellite radio, and a 12-inch digital instrument cluster.
A 13-speaker Harman Kardon audio system is available on the Plus trim for $800. The Ultimate trim gains a 13-speaker Harman Kardon audio system as standard.
2024 Volvo XC40 Trims & Prices
2024 Volvo XC40 Core – MSRP From $41,395
Build & Price >The XC40 Core trim comes well-equipped with features that include 18-inch wheels, bright exterior trim, roof rails, tinted rear windows, LED headlights, rain-sensing windshield wipers, keyless entry, a power liftgate, and auto-dimming mirrors. Standard interior features include dual-zone climate control, synthetic leather upholstery, an auto-dimming rearview mirror, heated front seats, and a power-adjustable driver’s seat.
The available $500 Climate package includes a heated steering wheel and heated rear seats. A panoramic roof is the only other option and costs $1,000.
2024 Volvo XC40 Plus – MSRP From $46,295
Build & Price >The Plus trim adds a panoramic sunroof, LED fog lights, leather upholstery, an air purifier system, 19-inch wheels, a universal garage door opener, wood trim, and a power-adjustable passenger’s seat.
The $550 Climate package is optional, as is Pixel Technology Headlights for $350.
2024 Volvo XC40 Ultimate – MSRP From $50,095
Build & Price >The range-topping Ultimate gains more advanced safety features, 20-inch wheels, a power child safety lock, a Harman Kardon audio system, and an air-ventilated subwoofer.
The $550 Climate package is the only option for the Ultimate trim.
2024 Volvo XC40 Recharge Core – MSRP From $56,645
Build & Price >The all-electric XC40 Recharge Core comes with a lot of the same features as the gas-powered model, but includes an electric powertrain. The major difference is that the XC40 Recharge comes with 19-inch wheels as standard equipment.
The XC40 Recharge Core is available with the Climate package that costs $1,100. It includes a heated steering wheel, a heat pump, heated rear seats, and headlamp cleaners. A roof spoiler is $400 and running boards cost $1,200.
2024 Volvo XC40 Recharge Plus – MSRP From $57,345
Build & Price >The XC40 Recharge Plus is similar to the gas-powered model. The Plus trim is also available with the $1,100 Climate package.
2024 Volvo XC40 Recharge Ultimate – MSRP From $60,595
Build & Price >The XC40 Recharge Ultimate trim matches the gas-powered model when it comes to feature content. The SUV is available with pixel LED headlights ($350), a rear spoiler ($400), and running boards ($1,200).
Regardless of whether you choose the gas-powered 2024 Volvo XC40 for the all-electric XC40 Recharge, we think the mid-level Plus trim is the best value option. The extra convenience features are nice to have in a luxury SUV and don’t dramatically increase the SUV’s price.
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