One problem related to front suspension wheel bearing has been reported for the 2001 Volvo V70. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2001 Volvo V70 based on all problems reported for the 2001 V70.
The four bolts holding the left front hub/bearing assy to the suspension loosened and backed out. The initial symptom was similar to a warped brake rotor - pulsing during light braking. However, as the bolts continued to back out, one bolt fell out entirely, two became loose, and the last bolt jammed into the rotating front axle. The direction of rotation of the front axle was such that it caused the bolt to back out further and jam against the axle causing binding and grinding a significant portion of the bolt head off. If this had happened at speed - say 55-60 on the DC beltway during rush hour traffic, results could have been disastrous. Further, it appears that failure of these bolts can caust the entire front wheel and hub assembly including the brake rotor and caliper to separate from the vehicle. Volvo replaced all four bolts on both the left and right front hub assys under warrantee, howevger, there is not recall or tech bulletin on this problem - even though Volvo is on the third generation of bolt design for this problem!! I should note that these same bolts and the same design are used on all p26 platform cars (s80, s60, and the 2001 and newer V70 models). Failure of the bolts on the left side can cause severe steereing pull to the left when the bolt jams against the drive axle. The problem on the right side is similar except that the bolts will not jam the axle due to the direction of rotation. Contact steve seekins at 703-418-8651, sseekins@anteon. Com (husband) for further info. Can provide VIN later.