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Dear vacuumhead,
Hope you're well. If the name "Volvo" is cast into the pump housing (i.e., not found on a paper or plastic label affixed to the pump), it is reasonable to assume that the part is genuine Volvo, because it came in a box, the appearance of which is consistent with a factory-original item.
Over time, car makers shift suppliers and part designs may change. Thus, while the factory-original water pump could have been made in Germany or Sweden, Volvo could have found a British supplier, with a lower price. The numbers on the pump housing might designate that supplier and/or the date of manufacture.
The impeller format change could reflect cost-cutting and/or improved efficiency. A lighter-weight impeller may not reduce pump efficiency but might reduce the load on the pump's bearings or the engine: a lighter impeller might simply take less energy to turn.
As to the part numbers, 271830 has been superseded by 271975.
In short, I conclude if the pump supplied indeed has "Volvo" cast into the pump housing, then it is a genuine Volvo part.
Hope this helps.
Yours faithfully,
Spook
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