Here to clear the air

Volvo XC40 Recharge Pricing

Ginny Says

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6/10

“I'm a big fan of Volvo, who I think have been through a design revolution, and this fills a gap for a mid-range luxury SUV powered by pure electricity. I think the lower power versions will make a little more sense than the top-spec models, as there's not really any need for it to be this fast and it's uncomfortable on rough roads.”

Nicki Says

7/10

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“This seems to be a 'right-sized' SUV for me. There's plenty of space, technology and performance but it isn't as unnecessarily large as some of the bigger, more expensive electric SUVs. If you don't want to go full electric it also comes in plug-in and hybrid versions.”

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The price of the first versions of the all-electric XC40 put it head-on with the mid-range Tesla Model 3. But it’s more affordable than other electric SUVs. 

  • Price: £53,155 (after grants)
  • Full charge cost (approx. – based on home charging):£12.79
  • Company car tax:0% (2020-2021)
  • Insurance group:TBA
  • Warranty Vehicle:3 year 60,000 mi
  • Warranty Battery& Drive Unit:8 year 100,000 mi

Pricing

The first versions of the XC40 Recharge are priced a little higher than we'd hoped, at £53,155 for the equipment-packed R-Design. Cheaper models are expected to be slowly introduced later as demand wanes. 

That puts it bang in the middle of the two more expensive Tesla Model 3s – the Long Range and the Performance. Both of these are faster and have a longer range, but are not as practical as the SUV-shaped Volvo.

The XC40 is head to head with Ford's sporty Mustang Mach-e, or if you want to really stretch the budget there are bigger EVs such as the Jaguar I-Pace, where the entry-level models overlap with the top XC40. Don’t necessarily think cars like this are out of reach though; if you are funding your electric car using leasing or PCP/PCH finance, it’s worth checking the deposits and monthly payments as sometimes there is very little difference between a car like the Volvo or Jaguar and something far less posh. 

Running costs

If you are used to running a petrol or diesel SUV, the running costs of an all-electric XC40 are going to be a revelation. Just over a tenner’s worth of electricity from your home charger will take you about 250 miles. The same amount would buy you about 70 miles’ worth at a petrol station. The EV’s servicing will be cheaper too, and of course you’ll be exempt from congestion and emission zone charging in major cities.

The biggest saving will be if you are getting the XC40 Recharge as a company car. The new benefit-in-kind rules mean the pure electric Volvo is rated for tax at just 1% for 2020/21, meaning you’ll save enough out of your wages every year to go on a very nice family holiday.

However, while the savings compared to petrol and diesel cars are massive, the XC40 isn’t actually that efficient in the way it uses electricity compared to its main Tesla rival; the Model 3 costs around 3p per mile to run, while the Volvo is 4.4p. 

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