The Electronic Throttle Module (ETM) has a higher than normal failure rate. Volvo has extended the warranty on some of the ETMs to 10 years/200,000 miles
Problems for specific Volvo S60 years:
Car problem reports
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Most reported 2002 Volvo S60 problems
The turbocharger return pipe seal may develop an oil leak. The leak can begin very small, but will eventually progress into a large leak. Our technicians recommend having this repaired at first signs of leakage.
Front struts are a real issue with the S60. I have a 2002 with 125,000 and just had the OEM struts installed a year ago by the dealer and they are already failing. The top of the strut is actually separating at the top and is visisble if you look at the strut tower from under the hood. My local repair shop reports actually seeing one break through the top and come through the hood. Dealer is telling me because the struts were put in 13 months ...
The A/C Compressor will only work for only 5-10 minutes on hot weather days. Based on inspection, the AC compressor clutch plate gap is too big and the compressor is not functioning properly. Need to reshim the clutch hub and plate gap. Recommend to replace the magnetic clutch at the same time.