Volvo Continues to Post Record Sales; August Increase Up 18.6% for North America

    IRVINE, Calif., Sept. 4 Volvo Cars of North America, LLC
reported its best August on record for 2001. A continued strong showing by the
S60 and the V70 Cross Country drove sales of 13,145 units, capping a summer
season of five consecutive months of increased sales compared to the previous
year. August 2001 sales represent a 18.6% boost to sales in the same month
last year.

"Business was very impressive across most of our car lines, however the
V70 Cross Country and the S60 are really distinguishing themselves
-- maintaining the integrity of the marque, while the company moves forward
through innovation, technology, and design," said Vic Doolan, President and
CEO of VCNA.
    
Having completed its first anniversary, the Cross Country continues to
validate its place as a premium hybrid in the marketplace. And to keep the
momentum going, Volvo's latest entry to the market and symbol of its
"ReVolvolution" -- the S60, will roll out an industry pioneering
electronically controlled all-wheel drive vehicle -- the S60 AWD, coming this
fall.
    
The company noted that Volvo sales in Canada continue to impress as well,
with sales up 28 % over August 2000, also a record.

   
 Volvo Cars of North America, Inc. 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 2001 Volvo automobile line
includes the flagship S80 luxury sedan, versatile V70 wagon and rugged Cross
Country, C70 coupe and convertible, the sporty S60 sedan and compact S40 and
V40 models.


    Note:  Sales figures are for US and Canada only


    VCNA RETAIL SALES BY CAR LINE - August '01

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

    UNITED STATES
    S40                   2,411    2,241   7.6%    17,388   19,197    -9.4%
    V40                     318      472 -32.6%     2,561    4,017   -36.2%
    S60                   3,589      n/a   n/a     24,826      n/a     n/a
    S70                       8    1,323 -99.4%       220   16,569   -98.7%
    V70                   1,330    2,398 -44.5%    11,064   19,824   -44.2%
    V70 XC *              2,335    1,011 131.0%    15,190    1,116  1261.1%
    C70                     337      374  -9.9%     3,481    3,866   -10.0%
    S80                   1,803    2,469 -27.0%    14,459   21,438   -32.6%
    Other                     0        0   n/a          0        4     n/a
      TOTAL              12,131   10,288  17.9%    89,189   86,031     3.7%

    CANADA
    S40                     279      290  -3.8%     1,456      510   185.5%
    V40                     158       56 182.1%       849       92   822.8%
    S60                     233      n/a   n/a      1,786      n/a     n/a
    S70                       1      200 -99.5%         9    2,093   -99.6%
    V70                     137       89  53.9%       879    1,393   -36.9%
    V70 XC *                126       59 113.6%       966       59  1537.3%
    C70                       6        9 -33.3%       101      172   -41.3%
    S80                      74       89 -16.9%       522    1,226   -57.4%
      TOTAL               1,014      792  28.0%     6,568    5,545    18.4%

    NORTH AMERICA
     GRAND TOTAL         13,145   11,080  18.6%    95,757   91,576     4.6%

    * V70 XC, 2001 model year is EPA classified as a Light Duty Truck 2

    US Port Inventory:       2250      US Retailer Inventory:        13,324