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You can install the IPD (or similar) performance cam, as well as the adjustable cam timing gear. Should cost about $400 if you do this yourself. Low end torque should be much improved, though I doubt you can realize more than a 20% power increase. Simply changing to a head from a 740/940 turbo will give you better breathing due to the slightly larger valves. Some head work ought to give another several percent increase in power.
The real power, with an original Volvo drivetrain, is in the turbo cars.
It's entirely possible, though it's not really an amateur project, to install a 740T/940T's B230FT right into your 240. You need a fairly complete 740/940 to get the entire wiring harness and computer, and you'll probably want the trans that it came with too, just to handle the extra power. It bolts in, lines up and connects to all the 240 parts. The wiring harness is a bit of work to get everything working because same parts are in different places in the two cars.
It is doable. I've driven the result.
It's on the street in Connecticut, and it's a blast to drive. 91 244GL + 92 940T engine/trans + sway bars, upper + lower strut bars... very quick, sounds cool, docile around town until you stomp on it... then hang on!
I'm NOT recommending it for everyone, just saying it's possible!
Rob Bareiss, New London CT
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