"Normal wear and tear" is what I'd call it. It happened to me in the first 12 months of ownership and it has evidently happened to many others. If you don't point it out, chances are good that no one will even notice it. Volvo Finance doesn't inspect the car; they just count on the dealership rep. to do an appraisal. It's frequently the little stuff like a paint chip or a chipped headlight cover that will be overlooked, sometimes intentionally.

Don't underestimate dealer goodwill. They need your business and I'll bet you wouldn't be the first person to turn in a lease vehicle with a busted cover. Anyway, give the "Don't ask, don't tell" strategy a try is my advice.