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The Volvo XC40 is a mild hybrid subcompact SUV from the Swedish automaker that serves as the basis for the XC40 Recharge EV and the all-electric and coupe-styled C40. The XC40 is the smallest SUV currently available from Volvo until the arrival of the slightly smaller EX30, which is set to debut for the 2025 model year. So, how much can car shoppers expect to pay for the XC40 both in its base form and top trim with all the bells and whistles? Here’s how much a fully loaded 2024 Volvo XC40 costs.

The 2024 Volvo XC40 Core starts at $40,100

The Volvo XC40 has received a few significant updates for 2024. Most notably, the previously standard front-wheel drive B4 drivetrain developing 194 horsepower has been cut from the lineup. For 2024, the XC40 is now exclusively motivated by the mild hybrid B5 drivetrain featuring all-wheel drive and a turbocharged, 247-hp 2.0-liter four-cylinder engine paired with an eight-speed automatic transmission.

Volvo claims the AWD B5 powertrain will accelerate from 0-60 mph in 6.1 seconds and provides up to 30 mpg on the highway.

Additionally, new equipment has been added to select trims, including now-standard wireless charging and keyless entry. Larger wheels and a surround-view camera in the midrange Plus model are now standard, and larger wheels and adaptive headlights are included on the top trim. Two new exterior paint color options, Cloud Blue and Vapour Grey Metallic, are also available.

With its more powerful engine and standard all-wheel drive, the 2024 XC40 now starts at $40,100 MSRP, up from a $37,445 starting price for the 2023 model.

The XC40’s base “Core” model rides on 18-inch wheels and features roof rails, auto-dimming mirrors, keyless entry, a power liftgate, and LED headlights.

The cabin is highlighted by cloth upholstery and aluminum interior trim, dual-zone automatic climate control, a 12-inch digital instrument cluster, heated front seats, a power-adjustable driver’s seat, and a wireless charging pad. Volvo’s Google-based infotainment system is operated through a 9-inch touchscreen with satellite radio and an eight-speaker sound system. Apple CarPlay is standard, but there is no Android Auto connectivity.

The XC40 comes with a generous list of standard driver aids. They include automatic forward emergency braking, lane-keep assist, blind-spot warning with rear cross-traffic alert, traffic sign recognition, automatic reverse braking, and rear parking sensors.

The 2024 XC40 Ultimate starts at $50,095

Those seeking a more upmarket experience can opt for the 2024 Volvo XC40’s top trim. The Ultimate model starts at $50,095.

Upgrading to the Ultimate nets buyers features like 20-inch wheels, a surround-view camera, Pilot Assist adaptive cruise control, a panoramic roof, crystal gear selector, “driftwood” interior trim, leather upholstery, a remote key, an air purifier, front seat cushion extensions, power-folding rear head restraints, a power-adjustable passenger seat, and a Harman Kardon sound system.

Options and accessories for the 2024 Volvo XC40

Tailoring a 2024 Volvo XC40 starts with the exterior, as buyers have a choice, regardless of trim level, of either a “Bright” or “Dark” exterior trim. Nine exterior paint colors are offered at no additional cost.

There are 19-inch wheels available for the Core model for an additional $800. The midrange Plus model offers 20-inch wheels for an additional $1,475.

The base model can be fitted with black leather upholstery for $1,100.

The $550 Climate Package is available for all trim levels and includes a heated steering wheel and rear seats. A tow bar hitch ($1,345) is also offered on all trims.

Core and Plus models can be fitted with a panoramic roof for an additional $1,000. Plus models can be equipped with Pixel LED headlights ($350), which are adaptive and can automatically adjust glare imposed on other drivers, or the Harman Kardon sound system ($800) standard in the Ultimate trim.

A fully loaded 2024 Volvo XC40 Ultimate with all available options rings in at $51,990.

Related 3 Cons Of the 2023 Volvo XC40 to Consider Before Car Shopping

3 Cons Of the 2023 Volvo XC40 to Consider Before Car Shopping