Volvo EX40 vs Hyundai IONIQ 5

The Volvo EX40 starts from $69,990 before on-road costs, while the Hyundai IONIQ 5 opens at $76,200. 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 $76,989 and $83,820 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.

ANCAP safety ratings have not been published for both models yet. We will update this section when crash test results are available.

How long each takes to charge — from a household power point to ultra-rapid DC — estimated from battery size and max charge rates.

The Volvo EX40 features a 9-inch touchscreen paired with a 12.3-inch digital dash, while the Hyundai IONIQ 5 gets a 12.3-inch display and 12.3-inch instruments. Apple CarPlay and Android Auto are standard across both.

The Volvo EX40 stands out with Harman Kardon audio that you will not find on the Hyundai IONIQ 5. The Hyundai IONIQ 5 counters with panoramic roof, ventilated seats, V2L and Bose audio. Which feature set matters more depends on your daily routine and priorities.

Interior trim differs: the Volvo EX40 gets textile/leather blend upholstery while the Hyundai IONIQ 5 offers leather.

The Volvo EX40 uses a Electric producing 185kW and 420Nm of torque, sent through a single-speed to a RWD layout. It covers the 0-100km/h sprint in 7.3 seconds.

The Hyundai IONIQ 5 responds with a Electric making 168kW and 350Nm, paired to a automatic driving the rear wheels. It gets to 100km/h in 8.5 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: 82kWh (Volvo EX40) vs 84kWh (Hyundai IONIQ 5), giving WLTP ranges of 520km and 433km. DC fast charging peaks at 150kW (Volvo EX40) vs 220kW (Hyundai IONIQ 5).

The Volvo EX40 measures 4,440mm long on a 2,702mm wheelbase, 215mm shorter than the Hyundai IONIQ 5 at 4,655mm (3,000mm wheelbase). The longer wheelbase on the Hyundai IONIQ 5 generally means more rear legroom.

Boot space is 536L in the Volvo EX40 and 520L in the Hyundai IONIQ 5, giving the Volvo EX40 a 16L advantage.

For towing, the Hyundai IONIQ 5 leads with a 1,600kg braked capacity vs 1,500kg. That 100kg difference matters if you regularly hitch up.

Running cost data is not yet available for both models. We will update when figures are confirmed.

Warranty: 5 years / 999,999km (Volvo EX40) vs 5 years / 999,999km (Hyundai IONIQ 5). Both match on warranty length.