The first-generation Volvo XC60 (factory code Y20) debuted at the 2008 Geneva Motor Show. Built on the Ford EUCD platform (designated Y20 by Volvo) shared with the S80 sedan and Land Rover Freelander 2, the vehicle was produced solely as a 5-door crossover SUV. The XC60 was notable for pioneering Volvo's City Safety automatic emergency braking system as standard equipment, which automatically applied brakes at low speeds to prevent rear-end collisions.

Engine choices included 3.2-liter naturally aspirated and 3.0-liter turbocharged T6 inline-six petrol engines, complemented later by 2.0-liter Drive-E four-cylinder units. Diesel options featured 2.0-liter and 2.4-liter D5 inline-five turbodiesels. The drivetrain was available in front-wheel drive or Haldex all-wheel drive configurations. A major mid-cycle facelift in 2013 introduced single-piece headlights, a reshaped hood, upgraded digital instrument cluster options, and improved fuel-efficiency technologies.