Volvo Global Trucks Deliveries, January-April 2001

    STOCKHOLM, Sweden--May 22, 2001--Deliveries from Volvo Global Trucks, which comprises Mack Trucks, Inc., Renault V.I. and Volvo Trucks, during the period January-April 2001 amounted to 55,062 units compared to 61,461 in the same period last year.
    Order intake was down 14%, of which North America was down 30% and Europe 10% compared to the same period last year.
    "The downward curve in the North American market is deeper and wider than we expected," says Tryggve Sthen, President and CEO of Volvo Global Trucks. "We feel that we are approaching the bottom of the downturn, and expect the situation to improve towards the end of this year. Europe is still on a relatively high level, but is now, to some extent, being affected by the downturn in North America."

Deliveries by market area:

                   2001     2000  +/- %
Market

Europe, total    36,235   34,726      4
of which

Western Europe   34,017   32,797      4

Eastern Europe    2,218    1,929     15


North America    12,848   21,773    -41

South America     1,769    1,232     44


Asia              1,330    1,615    -18

Other             2,880    2,115     36

Total            55,062   61,461    -10

Mack Trucks, Inc.

    Deliveries from Mack Trucks, through April 2001 amounted to 8,812 vehicles, of which 389 (394) were medium-duty. Deliveries were 35% fewer than during the same period last year.
    Mack's Venezuelan unit performed extremely well, increasing sales volumes by 94%. The combination of economic stability in Venezuela and the great strides made by the Mack Venezuelan subsidiary allowed it to make significant improvements in its retail activity there.

Deliveries by market area:

Market           2001     2000  +/- %

North America   8,256   13,285    -38

South America     315       71    344

Other             241      247     -2

Total           8,812   13,603    -35

Renault V.I.

    Total deliveries for the period January-April 2001 increased by 13% compared to the same period last year. They amounted to 23,006 trucks, of which 11,704 were light and medium duty vehicles. Deliveries of the new medium-duty Midlum and the construction range Kerax rose by 35% and 33% respectively during the period.

Deliveries by market area:
                   2001     2000  +/- %
Market

Europe, total    21,014   18,972     11
of which

Western Europe   20,110   18,142     11

Eastern Europe      904      830      9


Other             1,992    1,383     44

Total            23,006   20,355     13

Volvo Truck Corporation

    Deliveries of Volvo Trucks during the period January - April totalled 23,244 units, of which 860 were Mitsubishi Canter. The total amount of units delivered was 15% fewer than during the same period last year. Apart from the weak market development in North America, the demand for heavy trucks in western Europe has decreased slightly. In eastern Europe, South America and in the Far East, deliveries increased compared with the same period last year.

Deliveries by market area:
                   2001     2000  +/- %
Market

Europe, total    15,221   15,754     -3
of which

Western Europe   13,907   14,655     -5

Eastern Europe    1,314    1,099     20

North America     4,592    8,488    -46

South America     1,454    1,161     25

Asia              1,330    1,615    -18

Other               647      485     33

Total            23,244   27,503    -15