Volvo Cars Sales up 26 Percent in March

... Strong Showing by XC90 Leads the Way for Increase in the United States

IRVINE, Calif., April 1 -- For the fifth consecutive month, Volvo Cars of North America, LLC (VCNA) reports a sales increase in the US despite soft industry sales overall. For March the sales increase is 25.8 percent over the previous year with a near-record total of 12,245 units sold.

Overall, Volvo's NAFTA nations recorded 13,553 unit sales for the month, representing an increase of 25.6 percent.

Says Vic Doolan, President and CEO of Volvo Cars of North America: "Our award winning new SUV -- the Volvo XC90 -- has helped to deliver this superb March result, rounding up a significant first quarter for us in the North American market."

Volvo's first SUV continues to be in great demand, with pre-orders extending through the summer.

"In addition to XC90 sales, the S40, V40 and V70 have all contributed to our March result," said Doolan. "We are also in the enviable position that our demand for all-wheel-drive versions of the S60 and XC70 ranges, exceeds supply."

Elsewhere in North America, total sales in Canada were 1,125 - a 31.4 percent increase for March.

Looking ahead, Doolan noted, "Strong wholesales during the month indicate that our dealers too are confident that our product range is in demand. We aim to continue this growth throughout the remainder of 2003."

VCNA is part of the Volvo Car Corporation of Goteborg, Sweden. The company provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States, Canada, Mexico and Puerto Rico.

The 2003 Volvo automobile line includes the award-winning XC90, the sporty S60 sedan, the flagship S80 luxury sedan, versatile V70 wagon and rugged Cross Country, the C70 convertible, and the compact S40 and V40 models.

  VOLVO CARS OF NORTH AMERICA, LLC
  Retail Sales by Model                                       Apr-01-2003

                                    UNITED STATES
                             March                      Year-to-Date
                   2003*     2002        %         2003*    2002      %
  Volvo Model
  S40            1,410      1,248     13.0%       3,864    3,294   17.3%
  V40              353        225     56.9%         865      626   38.2%
  S60            2,747      3,771    -27.2%       8,418    9,820  -14.3%
  V70            1,117        952     17.3%       2,704    2,794   -3.2%
  XC70           1,581      1,664     -5.0%       4,033    4,552  -11.4%
  C70              358        370     -3.2%         876      805    8.8%
  S80            1,313      1,502    -12.6%       3,401    4,061  -16.3%
  XC90           3,366        n/a      n/a        6,093      n/a    n/a
  Other              0        n/a      n/a            0        1    n/a

  USA TOTAL     12,245      9,732     25.8%      30,254   25,952   16.6%

                                        CANADA
                            March                       Year-to-Date
                   2003      2002        %         2003     2002       %
  Volvo Model
  S40              116        116      0.0%         300      266    12.8%
  V40              106         64     65.6%         209      148    41.2%
  S60              302        300      0.7%         650      683    -4.8%
  V70               68        107    -36.4%         185      237   -21.9%
  XC70             240        196     22.4%         523      469    11.5%
  C70                3          6    -50.0%           6       12   -50.0%
  S80               31         67    -53.7%          93      130   -28.5%
  XC90             259        n/a      n/a          379      n/a     n/a

  CANADA TOTAL   1,125        856     31.4%       2,345    1,945    20.6%

                                        MEXICO
                            March                       Year-to-Date
                   2003      2002         %        2003     2002       %
  Volvo Model
  S40                90        92      -2.2%        268      238    12.6%
  V40                 3         4     -25.0%          6       16   -62.5%
  S60                45        75     -40.0%        151      216   -30.1%
  V70                 0         1    -100.0%          4        3    33.3%
  XC70                0         8    -100.0%          6       26   -76.9%
  C70                 2         4     -50.0%          2        8   -75.0%
  S80                18        19      -5.3%         46       50    -8.0%
  XC90               25       n/a       n/a          40      n/a     n/a
  Other               0       n/a       n/a           0      n/a     n/a

  MEXICO TOTAL      183       203      -9.9%        523      557    -6.1%
      NAFTA
    GRAND TOTAL  13,553    10,791      25.6%     33,122   28,454    16.4%

  *USA Totals include Puerto Rico for 2003

  Contact: Roger Ormisher - 800-970-0888

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