general problems of the 2001 Volvo V70

I own a 2001 xc 70 Volvo which I just bought with 133900 miles last Friday April 26, 2013. The dealer showed me the maintenance records including a 3 month old California safety inspection report. On April 27, 2013, I was driving on a downhill stretch when all of a sudden, the car engine lost power, kicked like it wanted to jump ahead of me, all indicator lights flashed, and the car stalled and shut down rendering the brake and steering system inoperable. I had no means to control the car as it rolled down hill. I engaged the reverse gear causing the vehicle to stop. I called dealer right away. He told me to bring the vehicle to his mechanic the following Monday on 04/29/2013. The mechanic inspected the vehicle and test-drove it and could not find any problems with the vehicle. He performed a diagnostic computer test and got an error message indicating an air intake problem. He asked me to bring the vehicle the following morning so he can test drive it more and find out more. While driving home, the problem recurred again, this time in the middle of a freeway. It was dangerous. . . Luckily I was in the far right lane, so immediately I coasted to the side, with my hazards lights on and pulled to the side where the vehicle stopped itself. Imagine driving 80mph on a California freeway, and all of a sudden, the vehicle loses power, the engines kick jumps, and without your input, attempts to engage a higher gear but then stalls and immediately shuts down and the brakes and the steering wheel jams. . That is not safety. As I await for the mechanic to address this issue, I am filing this complaint because this is a safety issue. A car that passes a safety inspection test should not be abruptly shutting down in the middle of traffic and render the brake system and steering wheel inoperable.

My 2001 Volvo xc V70 transmission is also slipping and lurching. Lately this has been occurring on a daily basis. I have had no accidents, but when it slips and hesitates while pulling onto a main road my heart skips a beat hoping I won't lose transmission power with no way to get out of another vehicles path. My mechanic, who works strictly on Volvo and saabs, has told me he cannot guarantee that repairs or adjustments would correct the problem and that changes could possibly make matters worse (I. E. , complete transmission failure). I will be trading this car in to a dealer in next week or two. From what I've seen on this forum, Volvo is not owning up to this problem. I have also had power steering issues since shortly after purchasing used. Lots of noise in front and at parking speeds, total loss of steering power.

Volvo, 2001 V70 - VIN yv1sw58d111019707 this specific vehicle is unreliable and unsafe. Since purchased new, car has had multiple system failures leading to various unsafe driving conditions including brake system failure and engine failure (including loss of braking and steering systems). Manufacturer has acknowledged unusual nature of this particular vehicle quality defects - concerned that car must be taken off road to avoid serious crash. Please advise.