Volvo Cars Reports Consistent Sales for January

IRVINE, Calif., Feb. 1 -- Volvo Cars of North America, LLC reported sales for January of 8,656 units. This compares to 8,608 in the same month of 2001, representing a 0.6% increase.

For the month the S60 sedan, complimented with its newly launched AWD version, continues to be the Volvo sales leader a year after its initial launch, while the Cross Country is still defining the niche between station wagon and SUV.

Volvo Cars of North America, LLC (VCNA), based in Irvine, CA, is a subsidiary of the Volvo Car Corporation of Gothenborg, Sweden. Volvo Cars celebrates 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.

         VCNA RETAIL SALES BY CAR LINE - August '01    - January 2002

                                  MONTH-TO-DATE            YEAR-TO-DATE
                                2002   2001      %     2002   2001      %
         UNITED STATES
         S40                      994  1,640   -39.4%    994  1,640   -39.4%
         V40                      218    228    -4.4%    218    228    -4.4%
         S60                    2,743  2,152    27.5%  2,743  2,152    27.5%
         S70                        0     82  -100.0%      0     82  -100.0%
         V70                      943    955    -1.3%    943    955    -1.3%
         V70 XC                 1,666  1,573     5.9%  1,666  1,573     5.9%
         C70                      179    240   -25.4%    179    240   -25.4%
         S80                    1,433  1,305     9.8%  1,433  1,305     9.8%
                     TOTAL      8,176  8,175     0.0%  8,176  8,175     0.0%
         CANADA
         S40                       61    110   -44.5%     61    110   -44.5%
         V40                       32     60   -46.7%     32     60   -46.7%
         S60                      166    125    32.8%    166    125    32.8%
         S70                        0     -1  -100.0%      0     -1  -100.0%
         V70                       39     67   -41.8%     39     67   -41.8%
         V70 XC                   153     33   363.6%    153     33   363.6%
         C70                        3      6   -50.0%      3      6   -50.0%
         S80                       26     33   -21.2%     26     33   -21.2%
                         TOTAL    480    433    10.9%    480    433    10.9%
             NORTH AMERICA
             GRAND TOTAL        8,656  8,608     0.6%  8,656  8,608     0.6%