Volvo C40 Recharge: One-Year-Old Models Going For $35,000 Off

2024 Volvo C40 Recharge Review

Want a stylish, sporty, Swedish EV for less money than a new entry-level Ford Escape? Hertz has you covered.

The 2023 Volvo C40 Recharge is a sleek electric crossover with commendable performance. It's also not cheap.

The 2023 model started at $56,395 for the Core version and leaped to $61,195 for the Ultimate trim, the only version with adaptive cruise control. Despite the high price, it is closer in length to a Chevrolet Bolt EUV than a Tesla Model Y, and its range is just an okay 226 miles. Brand new, the C40 is easy to ignore, but used ones are seriously decreasing in price.

Today, you can find used ones for as low as $25,000. At that price, it's hard not to consider one.

As it offloads its EV rental fleet after last year's pricing disaster, Hertz is selling some relatively low-mileage examples with shockingly low prices to boot. One example is a 2023 C40 Recharge Ultimate with 36,000 miles. Brand new it cost $62,715, but today it's now listed for just $24,188. That's a 61.4% drop in value after a little over a year of driving.

A Charlotte-based Hertz car sales center is selling a 24,000-mile example for $26,170. That's once again the top-level Ultimate trim with all the available options. Compared to its original $61,195 sticker, its value dropped 52.7%.

In other words, you can get a sporty Swedish EV for less money than a new entry-level Ford Escape.

For those who prefer CPOs (keep in mind Volvos have a 4-year or 50,000-mile basic warranty), you won't need to spend any more than $30,000. A dealership in Florida is selling a certified pre-owned 2023 C40 Recharge Plus for ​​$28,995 with 15,000 miles. This one was originally $58,640, so it has dropped about 50.5% in value. But since it's a CPO, this one will be under warranty till August 2028 without a mileage limit.

Based on these prices, it's pretty notable how affordable these luxury crossovers have become. But should you buy one? And if you do, what trims and options should you consider?

The Volvo C40 Recharge: Tech Specs

Volvo introduced the C40 Recharge to the United States market as a 2022 model year. It utilizes the same Compact Modular Architecture (CMA) as its close cousins the XC40 Recharge and Polestar 2.

Until the 2024 model year, the C40 came with only one powertrain option featuring an all-wheel-drive setup. These 2023 models have a 78-kilowatt-hour battery pack, of which 75 is usable. This battery yields an EPA-rated range of 226 miles. Out of Spec's 70-mph range test demonstrated 221.9 miles, which is in line with the EPA figure.

To charge the battery, the C40 can accept up to 11 kilowatts on AC or a peak of 150 kilowatts on DC. Volvo says it can go from 10% to 80% state of charge in 37 minutes. The DC charging speed and times are average as it can't sustain the 150 figure for long.

In terms of range and charging, the C40 is a bit of a snoozefest, but that doesn't mean everything powertrain-related is unexciting.

The Volvo C40 Recharge has a 402 horsepower dual motor setup, allowing a rapid zero-to-sixty run of just 4.5 seconds. There is no denying that these are incredible performance figures for a seemingly tame family crossover. However, a side effect of the battery and dual motor setup is the weight. It tips the scales at a hulking 4,780 pounds (keep in mind the C40 is only 5.3 inches longer than a Bolt EUV). For comparison, Model Y Long Range AWD weighs 413 fewer pounds.

For the 2024 model year, Volvo introduced a Long Range RWD version, which comes with a slightly larger 82-kilowatt-hour battery with 79 being usable. This battery pack delivers a healthy range of 297 miles and a more respectable peak charge rate of 200 kilowatts.

However, the 2024 versions are currently around $15,000 to $20,000 more expensive second-hand, so we're focusing on the 2023 models for much of this story.

Trims

Volvo's coupe-style crossover comes in three trims: Core, Plus, and Ultimate. The entry-level Core version comes with a panoramic glass roof, power tailgate, wireless phone charging, heated front seats, and ambient lighting. As for ADAS amenities, the Core features lane-keeping functionality, blind spot monitoring, rear cros-traffic alert, traffic sign recognition, and rear parking sensors. In a world where the Mach-E, Model Y, EV6, and ID.4 feature semi-hands-free driving as standard, Volvo's standard array is very disappointing, especially considering that it costs substantially more than all these options.

The Plus is a little nicer but isn't a massive upgrade over the Core. It includes features like a Homelink garage door opener, a power passenger seat, fog lights,and an upgraded cabin air filter system. Regarding the safety front, the Plus merely adds front and side parking sensors and a surround-view camera. Due to the lack of Core versions on the market, many of the cheaper used ones will be Plus trims.

The top-tier variant is the Ultimate, which comes with the most extensive array of equipment. The Ultimate features a heated steering wheel, a punchy Harman Kardon sound system, and heated rear seats. The Ultimate also adds adaptive cruise control and Pilot Assist. Pilot Assist is very similar to Ford's Co-Pilot 360, Tesla's Autopilot, and Kia's HDA. It will keep the car centered in the lane and a safe distance from the vehicle ahead.

All versions come with a 9-inch central touchscreen which uses a Google Android Automotive-based operating system. The whole setup isn't incredible, but it has excellent voice recognition and a great built-in route planner thanks to Google Maps. We think it's superior to options from Kia, Hyundai or Toyota.

However, compared to tech-centric automaker systems like Tesla, it lags in responsiveness and usability. That said, Volvo allows drivers access to wireless Android Auto or wired Apple CarPlay too.

Any Areas Of Concern?

Besides some relatively minor software issues and bugs, the Volvo C40 isn't known to have many serious issues (same thing with the XC40 and Polestar). However, one area of concern is the expensive tires. All C40s come with 20-inch wheels that require staggered tires. And they aren't cheap. On Tire Rack, the cheapest tires for the C40 cost $1,250 for a set.

For comparison, you can get a set of Kuhmos for the Polestar 2 Performance Pack for just $564. If you've found a used C40 with bad tires, it's vital to realize that you'll have to set aside a large lump of cash for new ones.

Should I Buy The C40 Recharge?

If you're looking for a well-built, fast, and stylish electric crossover, the Volvo C40 is an excellent option. While not quite a range nor a charging king, the C40's strong suit is that it's a nice car. And in the used market, the electric Volvo is one of the most premium sub-$30,000 options around.

But most consumers who purchase one should definitely spring for the Ultimate trim. The adaptive cruise control alone can be a buying factor, but other features like Pilot Assist and the 13-speaker Harman Kardon sound system tip the scales further. Nevertheless, all models will have great performance and a smooth and quiet ride.

Brand new, the Volvo C40's steep price makes it miss the marque. But for $30,000 off used, it's one heck of a value proposition.

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