Tesla Model Y vs Volvo EX40: Price, Range and Cost per Mile in the UK

The Tesla Model Y is the better buy for families who need space and want the lowest running costs. The Volvo EX40 is cheaper to buy at entry level, goes further on a charge than the entry Model Y, and suits buyers who want a smaller SUV with a more conventional cabin.

Both cars sit in the same price bracket, but they are different sizes. The EX40 is the electric version of the compact SUV Volvo previously sold as the XC40 Recharge, while the Model Y is a larger family SUV. Here is how they compare on price, range, space, tax and our own cost per mile figures.

How much do the Model Y and EX40 cost in the UK?

The entry Model Y was listed at £44,990 in November 2026 by Carwow and Autotrader, up from the £41,990 it launched at in December 2025. The Model Y Premium Long Range RWD was listed from £49,990 by Carwow. Our page on current Tesla Model Y prices has the full list.

Carwow listed the Volvo EX40 Core Extended Range from £43,860 in November 2026, with the Extended Range Plus from £48,860 and the Extended Range Ultra from £52,860. Carwow also showed EX40 deals from £39,610, so the Volvo is open to discounting in a way the Tesla, sold at fixed prices online, is not.

	Tesla Model Y (entry RWD)	Tesla Model Y Premium LR RWD	Volvo EX40 Core Extended Range
UK list price (Nov 2026)	£44,990	£49,990	£43,860
Battery	63 kWh	Not disclosed	82 kWh
WLTP range	314 miles	383 miles	356 miles
Claimed efficiency	4.4 to 4.6 mi/kWh	Not stated	3.4 to 3.6 mi/kWh (range-wide)
Peak DC charging	175 kW	250 kW	205 kW
0 to 62 mph	Under 7 sec (0 to 60)	Not stated	7.3 sec
Boot, seats up / folded	854 / 2,118 litres	854 / 2,118 litres	410 / 1,400 litres
BIK rate 2026/27	4%	4%	4%

Sources: Carwow, Auto Express, Autotrader and electrive, as listed below. Tesla does not publish the battery size for the Premium.

Which costs less per mile to run?

The Model Y costs less per mile because it uses less electricity. Carwow quotes 4.4 to 4.6 miles per kWh for the entry Model Y and 3.4 to 3.6 miles per kWh across the EX40 range. We used the lower end of each claim.

EV Compared calculation: cost per mile = price per kWh ÷ miles per kWh (Model Y 4.4, EX40 3.4), multiplied by 10,000 for the annual figure.

Charging at	Price per kWh	Model Y per mile	EX40 per mile	Model Y per 10,000 miles	EX40 per 10,000 miles
Home off-peak	8p	1.8p	2.4p	£182	£235
Home at price cap	26.32p	6.0p	7.7p	£598	£774
Public rapid	79p	18.0p	23.2p	£1,795	£2,324
80% home off-peak, 20% rapid	Mixed	5.0p	6.5p	£505	£653

The inputs are an 8p/kWh home off-peak rate from our methodology, the 26.32p/kWh price cap rate for October to December 2026, and Zapmap’s September 2026 rapid charging average of 79p/kWh. Intelligent Octopus Go now charges 6.5p/kWh off-peak, which would cut the home figures to about 1.5p a mile for the Model Y and 1.9p for the EX40.

If you charge almost entirely at home overnight, the gap is small: £53 per 10,000 miles. It grows when you rely on public chargers. A driver who does a fifth of their charging on rapid chargers saves about £148 per 10,000 miles in the Tesla, and someone without a driveway who uses rapid chargers for everything saves about £529. Our guide to what it costs to charge a Tesla covers Supercharger pricing as well as home tariffs.

Which has more range?

The EX40 Core Extended Range goes further than the entry Model Y: up to 356 miles WLTP from its 82 kWh battery, according to Auto Express, against 314 miles for the entry Tesla. That makes the Volvo the better value per mile of range at entry level. On EV Compared’s numbers (list price ÷ WLTP miles), the EX40 Core costs about £123 per mile of range, the entry Model Y £143 and the Model Y Premium Long Range RWD £131.

The Model Y Premium Long Range RWD, rated at 383 miles by electrive, is the longest-range car here, but it costs £6,130 more than the EX40 Core.

The EX40 gets its range from a bigger battery, not from efficiency, so each full charge costs more. Auto Express also notes that the Core trim has no heat pump, so it loses more range in cold weather than the better-equipped versions. See how much range EVs lose in winter before you rely on WLTP figures for a January motorway trip.

Which charges faster?

The EX40 Extended Range has the higher peak charging speed, at 205 kW, and Volvo claims a 10 to 80% charge in 28 minutes. The entry Model Y peaks at 175 kW, which Auto Express says adds up to 162 miles in 15 minutes. The Model Y Premium peaks at 250 kW.

Peak speed is only part of the picture. The Model Y can use every Tesla Supercharger, while the EX40 uses CCS chargers on any public network, including the Supercharger sites Tesla has opened to other makes. For a driver who rapid charges often, the Model Y’s lower energy use per mile matters more than the Volvo’s higher peak.

Which is more practical?

The Model Y is the far more practical family car. Carwow quotes 854 litres of boot space, measured to the roof, and 2,118 litres with the rear seats folded. Auto Express gives the EX40 410 litres with the seats up and 1,400 litres folded, plus a 30-litre storage box under the bonnet that fits a charging cable.

The two seats-up figures are not measured the same way, but the folded figures show the size gap: the Tesla has about 700 litres more. The EX40 is the smaller car to park and has a more traditional cabin with physical buttons. The Model Y puts almost every control on its central touchscreen.

What about company car tax?

Both cars pay 4% benefit-in-kind in 2026/27, confirmed in HMRC’s manual. The list price decides the bill.

	List price	Annual BIK (4%)	20% taxpayer per month	40% taxpayer per month
Model Y (entry)	£44,990	£1,800	£30	£60
EX40 Core Extended Range	£43,860	£1,754	£29	£58

Method: list price × 4% × tax rate ÷ 12. The difference is about £2 a month for a higher-rate taxpayer. Our Tesla company car tax guide covers every Model Y and Model 3 version.

Both entry cars also sit under the £50,000 threshold for the expensive car supplement, which costs electric car owners an extra £440 a year for five years from the second year of tax. The EX40 Extended Range Ultra, from £52,860, would pay it. The Model Y Premium Long Range RWD, at £49,990, sits £10 under the line.

Which should you buy?

Buy the Tesla Model Y if:

• You need a big boot for a family, a pushchair or a dog
• You do a lot of public charging, where its efficiency saves the most money
• You want full access to the Supercharger network

Buy the Volvo EX40 if:

• You want the most range at the lowest list price
• You prefer a smaller car with physical controls
• You want to negotiate a dealer discount, which Tesla’s fixed online pricing does not allow

For most families, the Model Y’s space and lower running costs make it the stronger buy. The EX40 is the better pick for a couple or a single driver who values a compact size and a more conventional cabin. If you are still deciding between Teslas, read which Tesla to buy.