91 740 Turbo wagon with 190K miles.
It started today. When pressing the gas pedal the wagon goes to about 30MPH and then it has no power. If I keep the gas pedal gently presses speed is gained. Please help!!

Turbo hose collapsing?

Check condition of hose from AMM to turbo. Might as well take the time to check all of the other turbo hoses too.
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Norm Cook Vancouver BC; 1989 745T 200,000KM

Well, I think I found the problem. There is a metal hose that goes from the intercooler to the manifold. In between these two, there is a "S" shape rubber hose, about 9 inches long that has a huge hole. Does anyone know what this hose is called or better yet, its part number? I am heading to the Volvo dealer early in the morning to purchase one.

You should be able to get a price over the phone for that hose..the dealers will know which it is.

Prepare yourself for a hefty price too! I wouldn't get it through the dealer though as it will be very expensive. I've never bought this one but priced an AMM to turbo hose and it was $225CDN!

Go to http://www.fcpgroton.com/volvo700900turbo.htm

Pasted from that link:

1357550 Intercooler Connection Hose driver's side (elbow shaped hose) 85-91 To throttle body $29.00 APA Industries

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Ok, $30 is not so bad at all. I'll bet a lot cheaper than dealer though.
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Norm Cook Vancouver BC; 1989 745T 200,000KM

Many thanks to all. The Intercooler connection hose to the throttle body has been replaced, paid USD $108 at the dealer. The car runs great, still smokes a bit but now I can go over 30 MPH. Again, thanks!!