Volvo Reports Strong Start for Second Quarter

    ROCKLEIGH, N.J., May 1 Following the second best March
ever, Volvo Cars of North America, Inc. posts another strong sales month with
April figures increasing 5 percent over last year.

    "We are very pleased with our continued strong sales trend, especially the
sales of the Volvo S60 and Cross Country.  Our focused first quarter
advertising is clearly paying off, resulting in the best April in 13 years.
It is a great start for the second quarter", comments Thomas Andersson,
Executive Vice President, Marketing.

    
    VCNA RETAIL SALES BY CAR LINE
                                      MONTH-TO-DATE        YEAR-TO-DATE
                                 2001    2000     %      2001    2000     %
         UNITED STATES
         S40                    2,191   2,178    0.6%   7,307   9,543  -23.4%
         V40                      315     433  -27.3%   1,044   1,774  -41.1%
         S60                    2,897   n/a     n/a    10,659   n/a     n/a
         S70                       27   2,026  -98.7%     177   8,864  -98.0%
         V70                    1,003   2,039  -50.8%   4,845   9,287  -47.8%
         V70 XC * (MY '01)      1,498   n/a     n/a     5,965   n/a     n/a
         C70                      466     426    9.4%   1,718   1,931  -11.0%
         S80                    1,682   2,503  -32.8%   6,886  10,797  -36.2%
                        TOTAL  10,079   9,605    4.9%  38,601  42,196   -8.5%
         CANADA
         S40                      168   n/a     n/a       564   n/a     n/a
         V40                       96   n/a     n/a       372   n/a     n/a
         S60                      241   n/a     n/a       689   n/a     n/a
         S70                        1     359  -99.7%       6     867  -99.3%
         V70                       89     197  -54.8%     297     676  -56.1%
         V70 XC * (MY '01)        143   n/a     n/a       432   n/a     n/a
         C70                       15      26  -42.3%      48      63  -23.8%
         S80                       78     342  -77.2%     187     779  -76.0%
                        TOTAL     831     924  -10.1%   2,595   2,385    8.8%
             NORTH AMERICA
                  GRAND TOTAL  10,910  10,529    3.6%  41,196  44,581   -7.6%

         * V70 XC, 2001 model year is EPA classified as a Light Duty Truck 2
          US Port Inventory : 12,018  US  Retailer Inventory : 18,623