I have two external voltage regulators available. A brand new bosch and an used paris-rhone from a 140 volvo. Both alternators are externally regulated. (I'm only using one at a time, presently the Bosch unit).

I went out this morning and installed my "other" 55 amp alternator. This NOS alternator is a bit odd with extra connections for the D-, D+, and uses a different plug. Not too hard to work out. I hooked it up with the bosch regulator.

When the key is on, car not running, the voltimeter reads 12 volts (battery).
Started and running I get 13.5 volts. It drops somewhat when I run the internal fan, lights, and wipers. It drops quite a bit when I run the signals - dipping below 12 volts when I have everything running.

Does the location of the voltimeter circuit make a difference here? It runs from the #1 fuse to ground and this is the only voltage that my voltimeter is reading.
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1967 P220 Amazon, 1972 145S, 1976 245 DL, 1983 245 GL, 1986 745 GLE, 1990 745 GL, 1995 945....
You mean to tell me that Volvo makes cars that are *NOT* Wagons?!?