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I believe a 97 would have a boost gage. Does the gage show positive
boost pressure when accelerating?
It could be lots of things from failed O2 sensor(s) (should trigger check
engine light), loose hose on the turbo system, or transmission locking itself
in 3rd gear (transmission will do that if a problem is detected but should
turn on check-engine or the orange up arrow light on the dash).
Many other possibilities. Any dash lights on?
The failure rate of Volvo AC is so high that I doubt the AC is related.
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