Bob, that's the body number, an internal number that Volvo used inside the factory to keep track before production was completed. I believe that every Volvo was initially assigned this number, but some did not make it out the doors, hence did not receive a V.I.N. I toured the Torslanda plant and even today a vehicle can be taken off the line following the body construction phase, after the paint process or during/after the final assembly. There is even a test track inside the plant, where selected cars are tested at random. If a car fails for any reason, it will have to re-enter the assembly process or even be scrapped. My PVs and Amazon both have this body number, on the left firewall or the inside fender on the Amazon.

That said, it's possible that some vintage Volvos might have been registered in the USA or Canada with the body number, not the proper V.I.N.
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Cam a.k.a. CVOLVO.COM