Volvos are known for their safety, simplicity, and uniquely Scandinavian take on luxury. For 2023, Volvo will continue its march toward an all-electric lineup by equipping all XC40s with a mild-hybrid powertrain. For those seeking an electric-only vehicle, the XC40 Recharge is available (reviewed separately).
In the 2023 Volvo XC40, buyers get a stylish and versatile small luxury SUV, big on safety, technology, and fuel efficiency. Volvo offers the XC40 with two mild-hybrid powertrain choices: a 194-horsepower turbocharged 2.0-liter in the front-wheel-drive (FWD) B4 and a 247-hp turbocharged 2.0-liter in the all-wheel-drive (AWD) B5.
Some heavy-hitters are challenging the XC40 for your hard-earned dollars, including the Audi Q3, BMW X1, Mercedes-Benz GLB, and Lexus NX Hybrid. Buyers also might consider the Lincoln Corsair Grand Touring plug-in hybrid, although it’s a bit larger.
2023 Volvo XC40 Core (starting at $36,350)
The Core offers an affordable way to get behind the wheel of an XC40, priced about the same as a loaded Honda CR-V Touring Hybrid. Although it seems a good value, for an additional $4,500 you can move to the Plus trim, which offers the kind of detail and technology luxury buyers expect.
Known for its long-time commitment to safety, Volvo continues to lead with the XC40. Beyond the standard airbag and stability control systems, the XC40 includes forward collision warning and emergency braking, lane-departure warning and assist, and a blind-spot monitor with rear cross-traffic alert.
Should you cross the divider into the path of an oncoming vehicle, Volvo’s Oncoming Lane Mitigation can steer the XC40 back into its lane.
Also standard is a rear backup camera, rear parking sensors, and a road sign information feature alerting the driver to posted speed limits and road signs like Do Not Enter and No Passing.
Highlights for the Core’s exterior include rain-sensing wipers, deep-tinted rear privacy glass, auto-dimming and power-retractable heated side mirrors, LED headlights with automatic high beams, and 18-inch alloy wheels.
Luxury amenities include dual-zone automatic climate control with a humidity sensor, ambient interior lighting, and a power driver’s seat with memory and 4-way power lumbar support. The Core also gets heated front seats, a tilt/telescoping leather-wrapped sport steering wheel, and 60/40-split-folding rear seats with manually folding headrests.
Volvo covers the XC40’s seats in an easy-to-clean textile upholstery. Leather upholstery is a $1,100 upgrade.
High-tech features include a configurable 12-inch digital instrument cluster and a 9-inch center display for the media, climate, and vehicle functions. A highly usable touchscreen allows the driver to select the placement and position of the control buttons.
On the infotainment front, the XC40 comes standard with Google built-in, granting access to Google Maps, Google Assistant, and the Google Play store. Apple CarPlay, Volvo Apps, and SiriusXM satellite radio get included, as does a 250-watt 8-speaker Volvo High Performance audio system.
The Convenience Package ($800) adds a power passenger seat, the HomeLink remote control system, and hands-free keyless entry with a proximity key fob.
The few standalone upgrades include a hands-free power tailgate ($200) and a Polestar Engineered Optimization upgrade ($1,345) for enhanced overall performance.
Adding AWD costs $2,000 and brings a more powerful turbocharged engine.
With the $1,095 delivery fee, the 2023 Volvo XC40 Core costs $37,445. On a 60-month loan at 3% financing and zero down, the monthly payment comes to about $673. See 2023 Volvo XC40 Core models for sale
2023 Volvo XC40 Core includes:
- Rain-sensing wipers – These wipers automatically activate when they sense rain or mist on the windshield.
- Google built-in – Provides complete access to the Google and Android systems, including Google Maps navigation and voice-activated Google Assistant.
- Memory power driver’s seat – Features two-position memory settings for the driver’s seat and side mirrors.
2023 Volvo XC40 Plus (starting at $40,750)
Building off the Core’s standard equipment, the Plus offers a no-cost option Bright Theme or Dark Theme exterior package. The Bright adds chrome trim around the windows, front end, and roof rails, whereas the Dark replaces the chrome with black trim.
Additional equipment for the Plus includes LED fog lights, front parking sensors, a panoramic power moonroof, and a crystal gear selector knob by Orrefors, the noted Swedish glassworks company.
Rounding out the XC40 Plus’ upgrades is an enhanced ambient interior lighting package, a power tailgate, hands-free keyless access entry, driver and passenger-seat manual cushion extensions, a power passenger seat, and power-folding rear headrests.
Plus, buyers can choose between leather upholstery or leather with microfiber inserts when opting for the Dark Theme package.
Options beyond the Core’s offerings include 19- and 20-inch alloy wheels and the Driver Assist Package ($1,800) that adds adaptive cruise control with stop/go and a 360-degree surround vision camera. The Climate Package ($550) adds heat to the steering wheel and rear seats.
Finally, there’s a 600-watt 13-speaker Harman Kardon audio system costing a mere $800.
With the $1,095 delivery fee, the 2023 Volvo XC40 Plus costs $41,845. On a 60-month loan at 3% financing and zero down, the monthly payment comes to about $752. See 2023 Volvo XC40 Plus models for sale
2023 Volvo XC40 Plus includes:
- Panoramic glass moonroof – This glass roof makes the cabin feel more open and includes a perforated power sunshade.
- Power liftgate – Makes it easy to gain access to the cargo area with a push of a button.
- Crystal gear selector – This selector looks sharp and adds a touch of elegance to the Volvo XC40 Plus interior.
2023 Volvo XC40 Ultimate
(starting at $44,500)
Building on the Plus trim, the XC40 Ultimate comes standard with the Driver Assist Package and the Harman Kardon audio system. It also features 19-inch alloy wheels, an $800 upgrade on the Plus.
Volvo’s Pixel LED adaptive headlights ($350) are optional on the Ultimate and include an auto-dimming feature.
With the $1,095 delivery fee, the 2023 Volvo XC40 Ultimate costs $45,595. On a 60-month loan at 3% financing and zero down, the monthly payment comes to about $819. See 2023 Volvo XC40 Ultimate models for sale
2023 Volvo XC40 Ultimate includes:
- Adaptive cruise control – Maintains a safe distance from the vehicle ahead and can slow and even stop the vehicle while you’re driving in bumper-to-bumper traffic.
- 360-degree camera – Gives a complete 360-degree view outside the car.
- Available 20-inch wheels – These wheels enhance the XC40’s exterior styling while providing better handling and a firmer ride.
