2023 Volvo XC40 B5 Review: Powered by Gasoline

I recently reviewed the Volvo XC40 Recharge, a fully electric version of the popular XC40; it was a fun vehicle that didn’t scream, “look at me, I’m electric.” But EVs are not for everyone because of many reasons, some of the reasons include lack of home charging, lack of fast chargers in their city, and one of the most important factors, price.

If you are a fan of the XC40 Recharge but don’t want to deal with the above issues with EVs, Volvo will gladly sell you a gasoline version of the XC40, at least for the next few years before they go fully electrify their vehicle lineup.

This is a brief review of the gasoline-powered Volvo XC40 because the two vehicles are almost identical, except for what powers them. For more details, have a look at my 2022 Volvo XC40 Recharge review here.

In Canada, the base Volvo XC40 B5 Core trim has a starting price of $42,250, significantly lower than the EV version of the same car. The XC40 Plus trim is priced at $49,450, and the top-of-the-line XC40 Ultimate is priced at $55,600. There are a few packages offered that enhance aesthetics or add accessories like cargo nets, roof rails, etc.

Our review 2023 Volvo XC40 B5 AWD Ultimate had a price of $55,600 and had the Climate Package ($1,100), Pixel LED Headlights ($450), and 20” wheels ($1,000). Freight & PDI of $2,315 is not included in the price.

Powering the XC40 B5 is a 2.0-liter turbocharged 4-cylinder engine, producing 247 horsepower between 5,400 – 5,700 rpm and 258 pound-feet of torque between 1,800 – 4,800 rpm. Power is sent to all-four wheels via an 8-speed Geartronic automatic transmission.

The HP and torque figures may not seem impressive compared to the XC40 Recharge’s massive amount of power; however, for everyday use, the XC40 B5 had more than enough power for city and highway driving. The turbocharged engine is responsive and gets you moving briskly off the line; highway passing is not much of a problem. The transmission is smooth and works great with the AWD system, I didn’t notice any wheel slippage, even on the wettest of days and during heavy acceleration.

294989 XC40 B4 Silver Dawn
Photo Source: Volvo

The XC40 B5 features a mild-hybrid system, which turns off the engine at full stops. The system worked flawlessly, with barely any disruption when the engine turned on and off.

The suspension setup has a good balance of comfort and sportiness. The suspension soaks up bumps easily, giving you a smooth ride. There isn’t much of steering feel, but that’s pretty common on most new vehicles, and the XC40 is a CUV, so I wasn’t expecting sports car level of feel from the steering wheel.

Styling-wise, the XC40 and XC40 Recharge are almost identical. The biggest difference is the grill on the B5, which the Recharge replaces with a sold piece of metal or plastic. Other than that, I didn’t notice any differences. The same story goes for the interior, I didn’t notice any differences between the two trims. The interior uses the same minimalist approach found on other Volvo vehicles, which is eye pleasing.

2022 Volvo XC40 Recharge interior
Photo Source: Volvo

The XC40 B5 is equipped with all the latest tech gadgetry we’re accustomed to. Convenience features include wireless charging, heated front and rear seats, a heated steering wheel, and more. The XC40 doesn’t skimp on safety features either, features like a 360-degree camera, parking sensors, intelligent cruise, blind spot monitoring, and auto emergency stop. Please visit Volvo Canada’s website for a complete list of all the included features on each of the three trims.

The Volvo XC40 B5 is a great little CUV, perfect for people who want a high seating position but don’t want a big vehicle. The XC40 is quite luxurious on the inside and has a cute exterior design. It’s fun to drive and you won’t have range anxiety.




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Faisal is the cofounder and automotive photographer at Unfinished Man. He provides insider perspectives on the latest rides through his acclaimed photography. Faisal also serves as the site's watch expert, staying on the pulse of emerging timepieces. His seasoned eye for men's lifestyle products makes him an authoritative voice.

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