The Volvo diesel D24 motor was designed(not sure who produced it) under contract by VW/Audi. It shares many mechanical parts with VW and audi gas and diesel engines from the 80s. Cam timing and acessories are all different on the Volvo.
The d24 that came in the 2xx cars was superceded by the D24T Turbocharged motor in 83 up 7xx cars, that in turn replaced by turbo intercooled version for 9xx cars(few if any sold in US). The D24T in my 745GLE work car came from a donor with a quarter million miles, starts right up, and runs every bit as strong as an NA gas motor. Performance of the non turbo in the 240 will not be near as good. IF the cooling system and timing belts are maintained, with ocasional head gasket replacement, these motors can go a very long time. Much smoother and better than the VW non TDI diesels, I know, I have one of those too, for sale Turbodiesel POS VW Pickup (with one Volvo diesel piston)....I have drove it maybe one mile since I got the Volvo!