Problem list V40 2001:
oxygen sensor #1 defective at 8k mls, replaced warranty
oxygen sensor #2 defective at 9200 mls, replaced warranty
brakes squealing and grinding at 12k mls, replaced pads warranty, still good at 45k mls
driver window squealing at 20k mls in hot weather, never fixed well
H7 bulbs both burned out 1/yr, warranty
steering wheel coating comes off at 40k mls, out of warranty
no-start condition twice at about 28k mls, waited two weeks for camshaft position sensor shield, loaner car, warranty
transmission false neutral when upshifting problem at 40k mls, so far nothing but excuses and 5 days in the shop, loaner, warranty
driver seat frame rattling, replaced, warranty, 25k mls
brake vacuum pump died, no warning light, just no power brakes, nearly crashed the car because of it, warranty, 40k mls

To sum it up: most fun-to-drive car I ever had, most problem plagued car I ever had; don't plan on another Volvo once my lease is up
gerat car if you need socializing with the service department....