The air filter assembly has 2 thread inserts imbedded in the plastic housing and they can come loose thus causing your problem.
You might be able to remove the bolt if you can pull up on the assembly while turning the bolt which will require an assistant.
New air filter assemblies appear to be available.
Since Volvo discontinued most if not all of the exhaust parts, aftermarket is all that is available. 1 of my suppliers offers just the tailpipe, but not the rear muffler. The do offer a complete system, but it's on back order. You may have to go to a muffler shop.
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Eric Hi Performance Automotive Service (formerly OVO or Old Volvos Only) Torrance, CA 90502 hiperformanceautoservice.com or oldvolvosonly.com
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