You don't like fish? Well, obviously not in your trunk!
The most likely cause for the water is through the rearlight cluster. The best way to fight it is to completely remove the rearlight clusters. The sealant used to make sure no water enters the car between the fuselage and the lightclusters is made of poor material. After only a few years this material can have eroded so bad that after a rainy day the entire floorcover of the trunk will be soaked...
What you need to do after having the lights removed is remove all sealant from both the car and the rearlight clusters. Make sure both surfaces are 100% clean before reinstalling the rearlight clusters.
Now you have to make a new sealant around the rearlight cluster on thesame place where the old sealent has been before removing it. A product well suitable for this job is 'Kit-on-a-roll' made by 3M, use the 12 millimeter thick version. This is thesame material used to put a new windscreen in your car!
When you apply it, make sure the material has a bit of room to expand, because it will! If you use to much, the material might even crack your lightclusters while expanding.
After having done this you should have no more troubles with water rushing through your car!
If the problem still persists you might want to detach the rear-bumper. After you have done this you will see a stand-up edge. What happens is that rain water stays on this edge and cause oxidation.
If this is not treated in an early stage, you might be shocked by what you see there! In the worst case a large hole (you cannot see it from inside the trunk).
The best treatment is, of course, to fight the rust and prevent it from happening in the future! You might also want to attach the bumper a bit further away from the carbody to prevent it from knocking the body.
While you're at work there make sure there is no rust in the space where the spare tyre is stored. Also keep the drainage plug at the bottom clean!
Good luck and may all rainwater stay out again!
Et voili... Y'a plus qu'à le faire !!!

Pour d'autre trucs, voici le site anglais :
http://www.volvo-480-europe.org/
Mais, Hé, faut pas que ça vous empêche de communiquer sur ce site ! Pour une fois qu'on a le droit à un site en français...

Non, mais !
A+