Hyundai IONIQ 5 vs Volvo EX40
Two electric SUVs go head to head. Which EV is the better buy for Australian drivers in 2026?
Specifications and pricing correct at time of publishing. Prices are RRP before on-road costs unless stated otherwise. Always confirm with the manufacturer or dealer before purchasing.
Price Breakdown
The Hyundai IONIQ 5 starts from $76,200 before on-road costs, while the Volvo EX40 opens at $69,990. That makes the Volvo EX40 the more affordable entry point by $6,210.
Once you factor in stamp duty, registration, CTP insurance, and dealer delivery, expect to add roughly 8-12% on top of the RRP depending on your state. That puts estimated driveaway prices in the ballpark of $83,820 and $76,989 respectively.
Both models qualify for Fringe Benefit Tax (FBT) exemption, which is a significant advantage for salary-sacrificed novated leases. Depending on your tax bracket, this can save $5,000-$15,000+ per year compared to an equivalent ICE vehicle.
Safety Rundown
ANCAP safety ratings have not been published for both models yet. We will update this section when crash test results are available.
Feature Showdown
The Hyundai IONIQ 5 features a 12.3-inch touchscreen paired with a 12.3-inch digital dash, while the Volvo EX40 gets a 9-inch display and 12.3-inch instruments. Apple CarPlay and Android Auto are standard across both.
The Hyundai IONIQ 5 stands out with panoramic roof, ventilated seats, V2L and Bose audio that you will not find on the Volvo EX40. The Volvo EX40 counters with Harman Kardon audio. Which feature set matters more depends on your daily routine and priorities.
Interior trim differs: the Hyundai IONIQ 5 gets leather upholstery while the Volvo EX40 offers textile/leather blend.
Drivetrain
The Hyundai IONIQ 5 uses a Electric producing 168kW and 350Nm of torque, sent through a automatic to a RWD layout. It covers the 0-100km/h sprint in 8.5 seconds.
The Volvo EX40 responds with a Electric making 185kW and 420Nm, paired to a single-speed driving the rear wheels. It gets to 100km/h in 7.3 seconds.
The Volvo EX40 has the clear power advantage at 185kW vs 168kW. In the real-world sprint, the Volvo EX40 is 1.2s quicker. For most buyers, the way each car feels day-to-day matters more than outright acceleration.
Battery: 84kWh (Hyundai IONIQ 5) vs 82kWh (Volvo EX40), giving WLTP ranges of 433km and 520km. DC fast charging peaks at 220kW (Hyundai IONIQ 5) vs 150kW (Volvo EX40).
Space & Comfort
The Hyundai IONIQ 5 measures 4,635mm long on a 3,000mm wheelbase, 195mm longer than the Volvo EX40 at 4,440mm (2,702mm wheelbase). The longer wheelbase on the Hyundai IONIQ 5 generally means more rear legroom.
Boot space is 527L in the Hyundai IONIQ 5 and 536L in the Volvo EX40, giving the Volvo EX40 a 9L advantage.
For towing, the Volvo EX40 leads with a 1,800kg braked capacity vs 1,600kg. That 200kg difference matters if you regularly hitch up.
Turning Circle
Kerb-to-kerb diameter. Smaller turns easier in tight carparks and U-turns.
11.0m to 11.4m
Based on 11.0m turning circle:
- U-turn on standard street (7m+ wide)
- Standard parking bay
- Tight carparks
- Narrow laneways
Based on 11.4m turning circle:
- U-turn on standard street (7m+ wide)
- Standard parking bay
- Tight carparks
- Narrow laneways
Turning circle ratings
True Cost to Own
Running cost data is not yet available for both models. We will update when figures are confirmed.
Warranty: 5 years / 999,999km (Hyundai IONIQ 5) vs 5 years / 999,999km (Volvo EX40). Both match on warranty length.
Who Should Buy Which?
Buy the Hyundai IONIQ 5 if: You or prefer Hyundai's approach to design and ownership experience.
Buy the Volvo EX40 if: You want the lower entry price, prioritise performance, need more boot space, need stronger towing, or prefer Volvo's approach to design and ownership experience.
The Verdict
The Volvo EX40 takes 6 of 10 key spec categories and comes in at a lower price. The best pick depends on what you value most. Explore the full specs for each model below.
Common questions
Which is cheapest, Hyundai IONIQ 5 and Volvo EX40?
The Volvo EX40 is the cheapest at $69,990 before on-road costs. That undercuts the Hyundai IONIQ 5 by $6,210.
Which has the longest driving range?
The Hyundai IONIQ 5 has the most range at 570km (WLTP).
Which charges fastest?
The Hyundai IONIQ 5 accepts the highest DC charging at up to 220kW.
Which is safest?
They are evenly matched — Hyundai IONIQ 5 all hold a 5-star ANCAP rating. Compare the active-safety features above to separate them.
Which has the most boot space?
The Volvo EX40 has the largest boot at 536L.
Which can tow the most?
The Volvo EX40 has the highest braked towing capacity at 1,800kg.
Which is the most powerful?
The Volvo EX40 makes the most power at 185kW. The Volvo EX40 is quickest to 100km/h in 7.3s.
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Disclaimer: All information in this comparison was believed to be correct at the time of publishing (20 April 2026). Prices are manufacturer recommended retail prices (RRP) and may vary by state, dealer, and options. Driveaway costs include estimated on-road costs for Victoria. Fuel economy figures are WLTP/ADR combined cycle. Specifications can change without notice. Always verify with the manufacturer before making a purchase decision. CarSorted does not accept payment for recommendations.
Auto-generated from CarSorted's specification data · 20 April 2026
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