I never liked the idea of Volvo selling a V8. Volvo has for many years been known for inline engines (I5 and I6), often hopped up with turbos. This allowed them to stretch for performance without giving up too much fuel economy.
The last Volvo I owned was a naturally aspirated I5. It wasn't quick, but it got the job done, and I was able ot average around 26MPG around town.