I have a 2007 Volvo S80 with a wooden steering wheel. The silver circular strip around the center of the steering wheel has bubbled up twice. The dealer has replaced the wheel once, and it happened again. Volvo has indicated that they have not seen this before but are willing to replace it one more time--the last time. I am sure it will happen again.

Anyone heard of this issue elsewhere?

 

I have not heard of this, but they should take care of it.