Yes. Apart from the things made by Volvo itself, all German/Italian/Japanese parts do break in this car. Some Volvo parts do break as well if they are "new" to Volvo, like the angle gear. It took Volvo more than a decade to figure out how to make them reliable.
I recently tipped over $25k spent on parts (no gas, oil, tires) since 2012 on 05 XC70. It runs great, looks great and saved my butt in a side crash at 60 MPH (that explains about $4k out of $25k), but P2 is expensive long term, after they reach like 10-12 years. It rejects to rust though and can suck new parts for ages






