Volvo Cars Establishes Sales Record for 2001

IRVINE, Calif., Jan. 3 -- Volvo Cars of North America, LLC announces car sales of 125,710 units, which helps establish a new record for Volvo Cars in the United States. Sales outpaced the previous record of 123,178, set last year.

``The new sales record is an important milestone for Volvo in the United States and Canada,'' said Dan Werbin, President and Chief Executive of Volvo Cars of North America. ``And in the face of world events the latter part of the year and an intensely competitive marketplace, everyone at VCNA and all of our retailer partners, can be especially proud of this accomplishment,'' he said.

Volvo sales for the month of December were up 20.3% in the U.S. and Canada, yielding a total for the year of 134,947 cars. For North America, this marks the tenth consecutive year sales have increased over the previous 12 months.

``Our product range is the most extensive that we've ever offered, and the numbers show a continued broadening consumer appeal with more on the way,'' says Werbin eluding to the company's first-ever SUV to be unveiled next week at North American International Auto Show in Detroit.

Volvo Cars of North America, LLC (VCNA), is a subsidiary of the Volvo Car Corporation of Goteborg, Sweden, which will be celebrating its 75th anniversary in 2002. VCNA provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the U.S., Canada, Mexico and Puerto Rico.

The 2002 Volvo automobile line includes the sporty S60 and the new S60 AWD, the flagship S80 luxury sedan, the versatile V70 wagon and rugged Cross Country, C70 Coupe and convertible, and the compact S40 and V40 models.

    Volvo Media Website: www.volvocars-pr.com

         VCNA RETAIL SALES BY CAR LINE - July '01  -  December  2001

                                 MONTH-TO-DATE              YEAR-TO-DATE
                              2001   2000      %       2001     2000      %
          UNITED STATES
         S40                 1,377  2,341   -41.2%   22,541   29,862   -24.5%
         V40                   254    328   -22.6%    3,307    5,772   -42.7%
         S60                 3,503   1780    96.8%   35,850    2,994  1097.4%
         S70                     0    108  -100.0%      226   18,305   -98.8%
         V70                 1,248    792    57.6%   14,796   25,052   -40.9%
         V70 XC              2,411  1,611    49.7%   24,305    6,890   252.8%
         C70                   197    350   -43.7%    4,223    5,303   -20.4%
         S80                 1,931  1,471    31.3%   20,425   28,995   -29.6%
         Other                   0      0      n/a        0        5      n/a
                     TOTAL  10,921  8,781    24.4%  125,710  123,178     2.1%
          CANADA
         S40                    69    214   -67.8%    1,735    1,682     3.2%
         V40                    46    109   -57.8%    1,085      423   156.5%
         S60                   170    128    32.8%    2,799      283   889.0%
         S70                     0      4      n/a       10    2,218   -99.5%
         V70                    82     84    -2.4%    1,183    1,788   -33.8%
         V70 XC                142     86    65.1%    1,611      368   337.8%
         C70                     5      7   -28.6%      130      204   -36.3%
         S80                    31    116   -73.3%      684    1,692   -59.6%
                     TOTAL     545    748   -27.1%    9,237    8,658     6.7%
           NORTH AMERICA
               GRAND TOTAL  11,466  9,529    20.3%  134,947  131,836     2.4%