Just this afternoon, I began seeing some light smoke being emitted from the area of the engine nearest to the passenger compartment. This occured after the car had been driven and was fully warmed up and would occur as the engine was idling. This was intermittent and did not consistently stream out. It was white in color and smelled of a cross between transmissions fluid and a burning belt.

FYI,I did have some trouble starting her up today. I consistently have this problem if the car sits for more than 5-6 days without running (easy solution is to disconnect leads). Power was not an issue after recharging the battery and it appeared to be a fuel injector issue. The radiator and cooling fan were recently replaced and the check engine light came on the other day. Haven't had time to get to the local mechanic to get a read, but will do so after the holiday.

Any initial thoughts?

95 850 Turbo with ~115K

I have had both of my oil lines replaced on my 95Turbo. The second line leaked down by the oil pump and it also smoked. You could also check your Turbo oil return line which is next to the firewall. O ring fails there.

Klaus
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(1975 164, 1995 854T, 1998 V70R)

Just got a call from the mechanic and he said I would need a complete turbo replacement @1400 plus cleaning out the intercooler. Is this the only option people? I really don't want to sink any more money into this brick. I'd like to see if there is a way of getting a new hose/O ring etc. Please help.

Get a second opinion, a dealer if you have to. Just tell them what the symptoms are, not what the original mechanic diagnosed.
My 854T has only 90K miles, but has had the turbo return line O ring replaced. My 98 turbo has 118K miles, and just a dirty turbo air line which leaks occasionally. These turbos are really good units, they shouldn't fail.

Except for the smoke, does the turbo sound good? Do you still have lots of power? The only reason for smoke is that something is dripping on the exhaust pipes. Use a flash light and try to see where the smoke is coming from.

Spending $25 at a dealer for a diagnostic check may be well worth it. Also check to see if you have any codes which are not turning on the CEL.

Klaus
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(V♂LV♂s 1975 164, 1995 854T, 1998 V70R)

Thanks for the advice Klaus. I may even have a newfound respect for my local dealership. The problem was a vacuum line leak (Code 241). The service set me back $90. What a relief!

Rolaids. I am glad that was all there is. If you would have told us about a 241, we would have saved you a lot of anguish.
Go to this site to learn how to check your own codes:

http://www.volvospeed.com/CheckEngine.php

A pocket data booklet is $25 from Volvo. Well worth it, after you learn how to open the 2 black boxes.

Klaus
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(V♂LV♂s 1975 164, 1995 854T, 1998 V70R)

No noticeable loss in power. Boost seems fine. I just spoke with the local Volvo dealer and they told me that plumes of white smoke out of the exhaust would indicate a turbo failure, which is not occuring in my case. I will be dropping it off in a few hours. The local mechanic suggested I take it to a diesel specialist who would rebuild the turbo. He also said a code came up for the O2 sensor, which I replaced 2 years ago. Stay tuned..

I agree with MadeInJapan, but you might want to also look around the radiator.

I had some smoke that appeared and disappeared like that, especially when stopped at a light, and all I smelled was the normal engine smells. Finaly turned out to be pinhole radiator leak that was found more by seeing antifreeze coolant strain one day when under car for oil change.

From under the car done you see any indication of any fluid after the car sits overnight? Try putting a large piece of cardboard under the car after a days running about. Then analyze any drips - Black/brown - oil, greeninsh - antifreeze, reddish/brown - ATF

Check your engine seals and the oil cap seal. You may have positive crankcase pressure...that would mean if those areas aren't leaking they could be soon...check your pcv system and flame trap too.
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1998 S70 T5 Emarald Green Metallic, 2004 V70 2.5T Ruby Red, Previous Owner of Black '94 850 Turbo Wagon. My cars have been running so well lately they've got me worried.

Thanks for the suggestions. I have seen no observed spots on the driveway and no noticeable difference in the radiator. This is not a coolant smell at all. I know what that smells like after having coolant issues. It smells like burning rubber, like a belt of some sort. Are there any belts at the rear of the engine on the left? The smoke usually appears after I have run the car for a bit and come to an idle stop. Thanks again.

What you have on the left are tranny cooling lines going into radiator. Take a clost look at the two hoses there.

You also have flame tape and some related hoses under distributor cap.

I lttle leak either place could drip onto hot engine. Wipe things done and then repeat after a drive. Might find something that only leaks when running.