Volvo Cars Reports Steady Sales for October

IRVINE, Calif., Nov. 1 -- Volvo Cars of North America, LLC reported sales of 10,455 units in the United States for the second best October on record, and marginally higher than October 2000. Sales in Canada were off slightly and resulted in an overall decrease of 0.1% in the month-to-month comparison for all of North America. However, year to date sales continue to outpace last year by 3.5%.

``The most positive aspect of the month was the continuing increase in Volvo's pure retail sales of 12%, as we continue to reduce our engagement in the less profitable rental and fleet segments,'' commented Vic Doolan, President and CEO of Volvo Cars of North America.

The S60 sedan continues to show a broadening market appeal for the brand. The Cross Country sports wagon also posted strong sales.

Volvo Cars of North America, LLC 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 2002 Volvo automobile line includes the sporty S60 and S60 AWD sedans, the flagship S80 luxury sedan, versatile V70 wagon and rugged Cross Country, C70 coupe and convertible, and compact S40 and V40 models.

        VCNA RETAIL SALES BY CAR LINE  -  October  2001

                               MONTH-TO-DATE                YEAR-TO-DATE
                            2001    2000      %      2001     2000       %
        UNITED STATES
        S40                1,782   3,004   -40.7%   20,182   24,252    -16.8%
        V40                  207     560   -63.0%    2,885    4,951    -41.7%
        S60                2,933     202  1352.0%   29,850      202  14677.2%
        S70                    0     571  -100.0%      226   17,999    -98.7%
        V70                  946   2,011   -53.0%   12,751   23,395    -45.5%
        V70 XC             2,834   1,495    89.6%   20,210    3,604    460.8%
        C70                  189     353   -46.5%    3,846    4,628    -16.9%
        S80                1,564   2,209   -29.2%   17,374   25,333    -31.4%
        Other                  0       0     n/a         0        4      n/a
                  TOTAL   10,455  10,405     0.5%  107,324  104,368      2.8%
        CANADA
        S40                   65     349   -81.4%    1,582    1,258     25.8%
        V40                   33      59   -44.1%      995      168    492.3%
        S60                  314      26  1107.7%    2,347       26   8926.9%
        S70                    1      27  -100.0%       10    2,198    -99.5%
        V70                   43     116   -62.9%      999    1,589    -37.1%
        V70 XC               155      37   318.9%    1,290      129    900.0%
        C70                   11      12    -8.3%      117      190    -38.4%
        S80                   52     109   -52.3%      615    1,428    -56.9%
                  TOTAL      674     735    -8.3%    7,955    6,986     13.9%
          NORTH AMERICA
            GRAND TOTAL   11,129  11,140    -0.1%  115,279  111,354      3.5%