Start with what the Volvo ÖV 4 is: a 4-door Touring car / tourer (ÖV 4) / 4-door sedan (PV 4) / 2-door Pickup truck / pickup (ÖV 4 TV) with 1.9 L I4, built from 1927 to 1929, the vintage years, when coachbuilders still shaped most of what was sold. What it meant takes a little longer. The shape is credited to Helmer MasOlle (bodywork) / Jan G. Smith (engineering). 994 were built.
The background
The Volvo ÖV 4 was the first car built by Volvo. The designation ÖV 4 stands for "Öppen Vagn 4 cylindrar" in Swedish, which means Open Carriage, 4 cylinders.
The model ÖV 4 has later often been referred to as "Jakob" but that was just a name for one of the 10 pre-series ÖV 4 that was ready on 25 July 1926, Jakob's name day. All 10 prototypes were assembled in Stockholm at the company AB Galco, Hälsingegatan 41 where Gustaf Larson worked at that time. Only one of the 10 pre-series cars manufactured during 1926 was saved for posterity and is housed at the Volvo Museum in Gothenburg, Sweden.
The engineering
The engine is 1.9 L I4. On the scales it comes to 1170 kg. Drive goes through a 3-speed manual. The wheelbase is 2850 mm. These are manufacturer figures carried by Wikipedia and Wikidata, not road-test measurements.
Where it sits
In the Volvo line-up the Volvo ÖV 4 has a clear place: it handed the line to the Volvo PV650 Series; the factory was Lundby, Gothenburg, Sweden. The cars a buyer would have weighed it against include the Opel 8/40 PS, the Bentley Mother Gun, the Tatra CS Class M 120.2. Its Volvo stablemates include the Volvo 144 and the Volvo 264 TE.
Owning one today
There is no federal ownership record for the Volvo ÖV 4 — it predates the complaint database or was never sold in the United States — so MotorJury publishes no running-cost figure for it. For a car of this age the price is set by the collector market and the condition of the individual example, not by a formula.