For 2008, the nose and tail are modified, and though Volvo says it has changed the headlights and taillights, it seems limited to the elements within, such as taillamp LEDs and lens colors, and not a change in overall shape. The V-shaped hood bulge runs down into a more sculpted nose, and the lower air intake is broader. The unmistakable diagonal cross-member grille is even less mistakable, with a 50 percent larger Volvo logo. In contrast to the nose, the door sill and bumper extensions have been smoothed out. A Dynamic Trim Package option for the T5 adds a trunklid spoiler, side skirts and spoilers for the "chin" and below the rear bumper.

The S40 was an early adopter of side mirrors with integrated turn signals. Sixteen-inch alloy wheels are standard, but 17-inchers are available on either trim level.