The below link details a class action suit against Volvo. Volvo also extended the warranty on those models to 8 years or 100k miles. Volvo does an oil consumption test first and if excessive will fix the problem for free. An out-of-pocket piston and ring job by Volvo will run $10 or $11k. Like any purchase make sure service records are complete. 

https://www.carcomplaints.com/news/2022/volvo-oil-consumption-class-action-blames-piston-rings.shtml

I've heard similar stories about the late 5-cylinder motors. Faulty piston rings. One would think though that by now those cars with faulty piston rings have already been flushed out and engines rebuilt/replaced?

Also keep in mind that regardless of the flavor, T5, T6 or 3.2, any of them that haven't been maintained will suffer in similar fashion. These things do not respond well to skipped oil changes! Look for meticulous service records.

Press your Volvo shop as to why the T6 and not the normally aspirated 3.2 6-cylinder. That could expand the pool.

Best of luck,
Will
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XC60 / Odyssey

Drove a 1993 850 NA 5 cylinder for 30 years and 242,000 miles. No oil problems at all. Changed oil every 5k miles. There has been reported oil consumption problems with 2012 - 2016 5 cylinder using oil and low oil light not coming on, resulting in engine failure. A google search will show some of the issues. The problem was a new type of piston ring that allowed excessive consumption. Also, the dip stick was too long, or something, and it appeared to show OK oil level when it was low.

I have a 2007 xc70 T5. It has 310,000 miles and no oil consumption. It drives like a rocket.

I can't address your T5 inquiry. No experience with those specific T5 engines. I can say that a friend of mine bought a 2011 XC70 T6 new. It is a terrific engine with loads of power and torque! She has had no issues with that engine.

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Will I buy another Volvo??? We'll see....