I had the starter and flywheel replaced. They were both bad. However, I still have a starting problem after the initial start. When cold, the engine starts right up. After that, it takes extended cranks before it fires up. It does always start though. I have a new immobilizer( antenna ring) installed. The alarm siren is bad so sometimes I got an " alarm serviced required" light. I removed the alarm fuse. Still have the problem. I get 12.3 volts with no load, 14.3 volts when running and it goes just below 11 volts when starting. The battery is only 2 years old and has 900 CCA. Both the dealer where I bought the car and the local Volvo dealer are stumped. Any ideas where to go next?

You need to check for vacuum leaks, even small ones will cause the engine to run rich at idle. Also check the ECT sensor by turning the key to posII when the engine is 'warm' and look at the gauge. If the sensor is reading low, the gauge will also, and enrich the starting mixture.

But first, check for manifold leaks(vacuum) and air cleaner to throttle body leaks.
--
My name is Klaus and I am a V♂lv♂holic