Kelley Blue Book: The 2024 Volvo XC60 review: Elegant and modern, smooth as silk on the highway

For those searching for a European alternative to German hardware, the 2024 Volvo XC60 is the go-to. Its handsome exterior and elegant, modern interior belies its no-nonsense approach to safety and performance. Both powertrains include an electrified component, reinforcing Volvo’s
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commitment to an all-electric future. The cabin is exceedingly comfortable and loaded with technology. It’s about midpack in overall length among its rivals, meaning it’s well suited to urban conditions. But it’s also smooth as silk cruising on the highway. In other words, it’s a well-balanced 5-passenger luxury SUV.

What’s new for 2024

Volvo eliminated the B6 powertrain as well as the front-wheel drive versions of the B5 models. Consequently, the XC60 is only available with AWD.

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2024 Volvo XC60 pricing

The 2024 Volvo XC60 starts at $46,650. This is for the AWD B5 Core trim level. At the top of the B5 lineup is the Ultimate grade at $56,600. Volvo also offers the XC60 Recharge plug-in hybrid (PHEV). Every B5 trim level can be upgraded to the PHEV powertrain for $11,450. The PHEV versions are also AWD. Considering the B5 models provide AWD as standard equipment, their pricing is very competitive within the compact luxury segment. For example, the Genesis GV70, Acura RDX, and Audi Q5 have starting prices in the mid-$40s.

Learn more: What is EV, BEV, HEV, PHEV? Here’s your guide to types of electric cars

Staying within the Volvo family, if you require something smaller, the XC40 starts at $40,100, while the larger XC90 has a beginning price of $56,000.

We’re partial to the B5 XC60 Plus grade. For that extra $4,500 over the Core, you get a hefty load of extra goodies like a surround-view camera, leather seating, adaptive cruise control, and more.

These are manufacturer’s suggested retail prices and don’t include the $1,095 factory-to-dealer delivery fee (destination charge.)

Before buying the Volvo XC60, check the Kelley Blue Book Fair Purchase Price to know what you should really pay. Although a couple of others in the segment have a higher residual value, like the Lexus NX and Buick Envision, the Volvo XC60 maintains a higher-than-average residual value. For example, it’s higher than the Acura RDX, the Audi Q5, and the BMW X3.

See: Review: The 2024 BMW X3 stands out among compact luxury SUVs

Power, ride, and handling

Volvo has assigned two powertrains to the XC60. Both are influenced to some degree by electricity. The base setup is a 247-horsepower turbocharged 4-cylinder engine that funnels its output to all four wheels via an 8-speed automatic transmission.

Although the B5 doesn’t have the zing of rivals like the Genesis GV70 (300 horsepower) or the Lincoln Corsair (280 horsepower), its power output is about average for the segment. It certainly provides the XC60 with appropriate muscle for a small luxury SUV. Volvo tells us B5 versions can gallop to 60 mph from a standstill in 6.9 seconds, which is also about average for the segment.

Stepping up to the XC60 Recharge plug-in hybrid doesn’t only deliver 35 miles of all-electric driving range, it also drops the 0-60 mph sprint to a scalding 4.5 seconds. We’ve also found the interplay of the gas engine, electric motor, and regenerative braking very well sorted.

The ride quality is tuned primarily for comfort and composure rather than for any handling heroics. The most expensive Ultimate trim also offers the option of an adaptive air suspension. We are cheerleaders for the XC60’s comfy, predictable ride quality.

We’ve spent hundreds of hours driving and evaluating this generation of compact luxury SUVs, including the Volvo XC60.

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Fuel economy

The B5 versions deliver 25 mpg in combined driving (22 city, 28 highway). Not surprisingly, the Recharge PHEV delivers better mileage. It’s rated for 35 miles on electricity alone, and once the electrons run out and it begins operating as a typical gas-electric hybrid, mileage is 28 mpg combined (28 city, 28 highway). Using a Level 2 charger, topping off the battery will take less than five hours.

More XC60 fuel economy information is available on the EPA’s website.

Modern cabin

Occupant space is more than sufficient for most people. Rear legroom is a healthy 38 inches, which is about average for the segment. The cargo area goes from 21.6 behind the rear seat to 49.8 cubic feet with the rear seat folded. That also applies to the XC60 Recharge versions, even with their extra plug-in hybrid hardware. This is a little below average for the segment but is still quite good.

In the Core trim, the seating surfaces are simulated leather. The real stuff — leather — comes higher up the pecking order.

One interesting thing, though, is that Volvo offers City Weave fabric in Core models. It’s wool, which sounds like the last thing anyone in Arizona (or similarly hot places) would want, but it’s hard-wearing and retains a pleasant temperature no matter what the weather is doing.

Then there are the usual touches typical of Volvo, like the wonderfully comfortable front seats, the optional booster cushions for the rear seats, and the crystal glass gearshift knob in the Ultimate trim.

The quality of materials is top-notch. Just run a finger along the super-smooth Driftwood inlays (available from the Plus trim), and it’s hard to believe that sandpaper comes in such a fine grade.

Compelling exterior

In addition to the key trim levels for the XC60 lineup, Volvo provides a choice of chrome or black exterior accent elements for the Plus and Ultimate versions. The good news is there’s no difference in price between Bright and Dark.

The Polestar Engineered model wears 21-inch alloy wheels as standard. Available colors range from black to gray to white. The rest of the lineup has a broader choice.

Our favorite features and tech

Google/Android infotainment system
Before we go on, Apple
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CarPlay is also standard in the 2024 XC60. But this is an up-to-date system, favoring apps like Google Maps. Users with a Google
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account can sign in and sync their calendars. It’s also capable of over-the-air updates.

Surround-view camera system
When maneuvering in tight spots, this system shows the driver a complete view around the vehicle, as if shot from a drone. Parking sensors, front and rear, add another layer of reassurance. Standard in the two upper trims.

Pilot Assist
Not a hands-free driving feature, but Pilot Assist provides steering assistance with the adaptive cruise control to lessen some of the grind of long journeys. Standard from the Plus trim level.

Front seat cushion extensions
Yes, the regular front seats are great. But extra under-thigh support is always welcome, especially for taller types. These are standard in the Ultimate trim.

Adaptive air suspension
It’s an exclusive option with the Ultimate trim and provides superb settings at both ends of the comfort-sport spectrum.

Bowers & Wilkins audio
The Ultimate trim has an excellent Harman Kardon setup standard. But this optional 15-speaker/1,400-watt surround-sound system costs $3,200 and is one of the finest available in the segment.

Engine and transmission

Volvo arms XC60 models with a turbocharged 4-cylinder engine. More affordable B5 trims mesh it with a mild hybrid (MHEV) electric system that operates some electrical components. This frees the engine to devote all its power to the wheels by way of an 8-speed automatic transmission. The much pricier XC60 Recharge trims pair the turbo-4 with a plug-in battery-powered electric motor system. This allows the XC60 Recharge versions to operate on electric power only for up to 35 miles.

Hybrid fuel savings

If you drive 15,000 miles per year, filling the B5 engine will cost you roughly $220 per month (according to EPA calculations at the time of writing). Covering the same amount of miles with the XC60 Recharge will cost about $130 per month. Saving $90 per month won’t cover the price premium of the XC60 Recharge, but perhaps it’s a nice little cherry on top of the big increase in performance.

4-year/50,000-mile warranty

Volvo issues the same warranty coverage as most of its European luxury rivals. The bumper-to-bumper limited warranty lasts four years or 50,000 miles, whichever comes first. The powertrain coverage is the same. Moreover, Volvo provides complimentary scheduled maintenance for three years or 36,000 miles. XC60 Recharge models have their battery covered for eight years or 100,000 miles.

Safety ratings

National Highway Traffic Safety Administration (NHTSA) rated the XC60 and XC60 Recharge with its highest overall score of 5 stars. Because of a new testing protocol, the Insurance Institute for Highway Safety (IIHS) is still testing the 2024 XC60 and XC60 Recharge. IIHS named both to its elite Top Safety Pick+ winners for 2022. Among the standard advanced safety technologies are blind-spot monitoring with steering assist, rear cross-traffic alert with automatic braking, lane-departure warning, lane-keeping assist, and automatic emergency braking with pedestrian and cyclist detection.

See: These are 2023’s safest new cars

KBB’s car review methodology.

This story originally ran on KBB.com.