Hyundai Ioniq 5 vs Volvo XC40: Specs Compared

Running cost over five years: at the EPA's 15,000-mile-a-year assumption the Hyundai Ioniq 5 burns about $650 of fuel annually against $700 for the Volvo XC40. That $50 yearly gap compounds to roughly $250 over five years and $400 over eight — often more than the price difference between two trims of the same vehicle, and the single largest running-cost line item separating these two.

City and highway economy: the Hyundai Ioniq 5 leads in both cycles — 132 mpg city and 100 mpg highway against 118 and 95 mpg — so its fuel-efficiency advantage holds whether you commute in traffic or cover long highway miles.

Powertrain choice: the Hyundai Ioniq 5 is recorded with no distinct engine configurations, the Volvo XC40 with 2 (SIDI; Mild Hybrid, SIDI). Across 25 recorded Hyundai Ioniq 5 configurations and 19 for the Volvo XC40, the wider the engine spread the more the real-world fuel efficiency depends on which version you actually buy, so check the specific model year and drivetrain rather than the headline number.

Drivetrain and class: the Hyundai Ioniq 5 is offered with Rear-Wheel Drive, All-Wheel Drive, the Volvo XC40 with All-Wheel Drive, Front-Wheel Drive, Rear-Wheel Drive. All-wheel drive typically costs one to two mpg combined against the same vehicle in front- or rear-wheel drive, which is worth remembering when the gap between these two is small. The EPA classes them as Small Sport Utility Vehicle 4WD and Small Sport Utility Vehicle 4WD respectively — the class drives the interior volume, cargo space and passenger space each one is measured against.