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The 2023 Volvo XC40 is a top choice for luxury SUV buyers. This is because the XC40 offers impressive performance, top-of-the-line luxury features, and excellent reliability ratings. Luckily, the latest model XC40 is also a relatively affordable option for a luxury SUV. Like many Volvo models, the automaker accomplishes this without skimping on features. 

The Volvo XC40 is one of the top affordable SUVs because it offers various engine options 

2023 Volvo XC40 is a top affordable SUV
2023 Volvo XC40 | Volvo

The 2023 Volvo XC40 is a top affordable luxury SUV because it offers several hybrid powertrains that are fairly potent. According to Edmunds, the base model of the vehicle has a 2.0-liter inline-four mild hybrid setup with a maximum output of 194 horsepower. Its torque is rated for 221 lb-ft, and it’s front-wheel drive.

The highest trim of this hybrid Volvo SUV is a powertrain that produces a maximum of 247 horsepower. It, like other trims of the car, is all-wheel drive. The 2023 Volvo XC40 is a pretty swift vehicle on the higher end. It takes between 7.5 and 9.2 seconds to get from 0 to 60 miles per hour. The lower-end speeds might sound slow, but this small luxury SUV starts pretty well under $40,000.

One surprising thing about this subcompact SUV is that it has a pretty good towing capacity. A high towing capacity usually isn’t the case with subcompacts; the XC40 can tow up to 3500 pounds. Regarding fuel economy, the XC40 gets an average of 24 miles per gallon in the city and 32 mpg on the highway.

The XC40 has a luxurious interior

2023 Volvo XC40 interior
2023 Volvo XC40 | Volvo

The 2023 Volvo XC40 is a top affordable luxury SUV partly because of its interior. It has a contemporary style that’s both comfortable and includes quite a bit of character. The inside of the XC40 may not be as spectacular as larger Volvo SUVs, but it’s more than accommodating enough. The higher-end versions of the SUV also have driftwood trim as well as a shift knob made from Orrefors crystal.

Regarding technology, the latest model Volvo XC40 has a 9.0-inch touchscreen display that controls most of the interior features. It’s not the best system, as it features fairly small icons, but it works well and makes the inside of the car look more high-tech. People also like this system because it looks unique compared to most other infotainment screens.

This is a safe and reliable vehicle

2023 Volvo XC40 from the side
2023 Volvo XC40 | Volvo

This budget friendly luxury SUV from Volvo is also a safe vehicle in crash situations. It may not be a top safety pick from the NHTSA, but it does have pretty good ratings. The small SUV is rated as being good in all categories except for two. It’s rated as being acceptable in those two.

Regarding reliability, the XC40 has a predicted score of 70 out of 100 from J.D. Power. Consumer Reports believes it will have about average reliability compared to other vehicles. There are vehicles out there with higher scores in this department, but the 2023 Volvo XC40 has no serious complaints. For people who want an all-electric SUV, there is also the 2023 Volvo XC40 Recharge.

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