My understanding (from listening to Car Talk and staying at the Holiday Inn, not from personal experience) is that you will never get rid of the smell and soot.

Usually such cars are totaled out by the insurance company. And it's also my understanding that most of the decent insurance companies will highball your offer. They can give you a high offer, auction your car off for salvage parts and it's cheaper for them than if they tried to fix your car. And you'd be complaining about the smell, real or imagined, for years. It ain't worth it to them.

Oh, and DO file a complaint with NHTSA/DOT. This really could be a life-or-death matter if someone were inside the car when it went up! (Like a baby!)

CLICK HERE TO FILE A COMPLAINT

Tell Volvo, too. They'll find out from DOT, but they might be intersted. (Might send you a discount coupon for a new Volvo, too! Never know!)

-BTC