Just bought a '94 940T earlier this year as a non runner. The P.O. had the misfortune of loosing his coolant, and fried the engine. I dropped in another engine block and have been driving it without any problems.
While doing the engine swap, I looked at what it would take to convert from a slush box to a M46. Assuming you have a donor car, most of the parts I think will transfer easily. Things like the tranny, cross member, drive shaft, clutch master cylinder, etc. should be pretty straight forward. This assumes Volvo did not make any changes in the frame members between the 740 and 940 series. (BTW, chances are you will have to work with relatively early 740s since M46 trannies became rarer as the series progressed. I think after about '88, 740s with M46 were not sold in the states.) The wiring for the OD will take a little thought, but I hear it is not too bad as long and you have the proper relay and know how the wiring for the slush box OD relay was set up. As for the engine interface, I see two issues. The 940s used LH 2.4 which has a crank position sensor poking through the top of the bell housing. My '87 740T with M46 used LH 2.2 which does not have this part. I can't remember if the bell housing on my tranny has allowences for this sensor. The other issue is the fly wheel. The 940 fly wheen has what amounts to an encoder wheel attached to it for the crank position sensor. You will need to find a standard transmission fly wheel with this encoder wheel attached. Since 940s with M46 may not have been exported to this country, this could be a difficult item to find. You may have to search around Europe for this. As for the computer, I think you may be OK. I have both a '87 and '88 740Ts, one with a slush box, and the other with M46. Both cars run with LH 2.2, and both cars have the same computer part number. Maybe the different trannies would benefit from slight different control curves in the computers, but the fact that both of my cars have the same part numbers for the computers suggests the differences are not worth stocking different computers.
Hope this helps. I too would like to someday convert my 940 to a M46.
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Gary D
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