Volvo Reports Second Best March Ever and 59% Increase Over Last Month

    ROCKLEIGH, N.J., April 2 Strong sales of Volvo's S80
luxury sedan and the S60 sports sedan helped push March to near record high.
With a 77% and 60% increase respectively, both models helped fuel March's
sales results.

    "As stated last month, the S60 continues to gather momentum. Our strong
market come back is a dramatic increase over January and February," said Mark
LaNeve. "We are strong across the board especially our S60 with approximately
80% of its shoppers having never visited a Volvo showroom. We are seeing a
whole new group coming to Volvo."

    Volvo car sales in March were led by the S60 with 3,444 units and the S80
with 2,496 units (2,166 and 1,403 respectively for February). The company
reports March totaled 12,494 compared to February with 7,851. Compared to
March last year, sales were down -3.3%.

    The company noted that Volvo sales in Canada continue on par with last
year with 754 units for the month and 1764 for year-to-date.

    
                                    MONTH-TO-DATE             YEAR-TO-DATE
                                2001    2000     %      2001    2000     %

         UNITED STATES
         S40                    2,205   2,797  -21.2%   5,116   7,365  -30.5%
         V40                      311     518  -40.0%     729   1,341  -45.6%
         S60                    3,444     n/a    n/a    7,762     n/a    n/a
         S70                       34   2,831  -98.8%     150   6,838  -97.8%
         V70                    1,793   2,794  -35.8%   3,842   7,248  -47.0%
         V70 XC * (MY '01)      1,594     n/a    n/a    4,467     n/a    n/a
         C70                      619     767  -19.3%   1,252   1,505  -16.8%
         S80                    2,496   3,221  -22.5%   5,204   8,293  -37.2%
                        TOTAL  12,496  12,928   -3.3%  28,522  32,590  -12.5%

         CANADA
         S40                      187     n/a    n/a      396     n/a    n/a
         V40                      159     n/a    n/a      276     n/a    n/a
         S60                      164     n/a    n/a      448     n/a    n/a
         S70                        2     229  -99.1%       5     508  -99.0%
         V70                       79     201  -60.7%     208     479  -56.6%
         V70 XC * (MY '01)        104     n/a    n/a      289     n/a    n/a
         C70                       10      20  -50.0%      33      37  -10.8%
         S80                       49     292  -83.2%     109     437  -75.1%
                        TOTAL     754     742    1.6%   1,764   1,461   20.7%

             NORTH AMERICA
                  GRAND TOTAL  13,250  13,670   -3.1%  30,286  34,051  -11.1%

    * V70 XC, 2001 model year is EPA classified as a Light Duty Truck 2
    Inventory            Retailer:  20,373       Volvo:  10,455