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I went through almost the exact same thing with my '90 240 several months ago. Fortunately, a ramp truck was behind me at the intersection where the car died, and he ramped it home for $30.
New brushes in the alternator solved the problem. I got them from FCP Groton for about $3, took about an hour to install.
Brushes typically wear out around 200k miles, plus/minus a lot depending on many variables.
If you're not handy with a soldering iron, then a replacement regulator assembly (which includes the brushes) might be a better approach. Quicker and cleaner job, too. (For a 240, the regulator costs from $24 to $28, depending on the choice of Brand X or Bosch.)
But..... I don't see electrical stuff for the 940 on FCP's website. Check with them to see if they have the brushes or regulator for your car -- they'll be different than used in a 240.
FCP also has alternators.
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Don Foster (near Cape Cod, MA)
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