New Volvo S60 defects

I purchased a brand new Volvo S60 T3 in July 2014 . Since then the car has been back for repairs ranging from oil leaks , blown water pumps and now 2 cylinders having to be repaired. This is a car that is barely a year and half old. Volvo accepts that the car is faulty and wants to now just repair the car - this is unacceptable as I purchased a new car and now have a car with a reworked engine. They were willing to swap the car the out - provided I pay an additional R50k - this is nonsense - why should I now pay more for a car that is malfunctioning.<br> <br> Volvo has provided a car that does not work / damaged and is not prepared to accept the liability for this.