The "air guide" you are refering to is needed for better airflow through the radiator. My V70R was a couple of inches lower than the regular V70, and I know what you mean! I learned to stop short of curbs and parking lot concrete bumpers, the car is shorter than most cars on the road and fits into parking stalls easily.

If you have a pick&pull, you can get an 850 part and force it to fit with a couple of bumper clips. It must fit above the bottom of the bumper cover, otherwise you will just rip it off again.

Will your car run OK without it? Yes. But avoid larger puddles, as the splash might force water on the S belt and cause it to slip for a short while. When it gets hot outside and the AC is on and you are traveling slowly, like city traffic, the radiator fan will not be as efficient.

Klaus
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Volvoless. Sold the R. There is now a void...