The anti-lock brake system (ABS) warning light and/or other dash warning lights may illuminate due to a failed ABS Control Module. Replacement of the failed module is generally required to correct this concern.
Problems for specific Volvo S60 years:
Car problem reports
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Most reported 2004 Volvo S60 problems
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 ...
Erratic shifting from the automatic transmission and cold start issues can sometimes be corrected by software upgrades to the engine and transmission control modules.
Several software related issues have been reported and we recommend that when a software upgrade is performed you have all the software upgraded