Volvo Cars February Sales Keep Pace With Record Year of 2001

IRVINE, Calif., March 1 -- Led by the continued strength of the Volvo S60, and its new AWD version, Volvo Cars of North America, LLC reported sales of 8,646 units for February. Year to date sales of 17,302 units for the United States and Canada represent a + 1.6% change from the record pace during the same period of 2001.

For the month, Volvo Canada sales totaled 609 units, an increase of 5.5%, while in the United States sales were up 2.4 % in February.

``With the success at Auto Shows of our much anticipated SUV -- the Volvo XC90 -- and our continued effort to build brand value, Volvo is positioning to be a major player in the premium segment,'' said Dan Werbin, President and CEO, Volvo Cars of North America, LLC.

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.

                                                               March 1, 2002

         VCNA RETAIL SALES BY CAR LINE - August '01   - February 2002
                                   MONTH-TO-DATE            YEAR-TO-DATE
                               2002   2001      %      2002    2001      %
         UNITED STATES
         S40                   1,052  1,271   -17.2%   2,046   2,911   -29.7%
         V40                     180    190    -5.3%     398     418    -4.8%
         S60                   3,303  2,166    52.5%   6,046   4,318    40.0%
         S70                       0     34  -100.0%       0     116  -100.0%
         V70                     901  1,110   -18.8%   1,844   2,074   -11.1%
         V70 XC                1,218  1,284    -5.1%   2,884   2,848     1.3%
         C70                     255    393   -35.1%     434     633   -31.4%
         S80                   1,128  1,403   -19.6%   2,561   2,708    -5.4%
                        TOTAL  8,037  7,851     2.4%  16,213  16,026     1.2%
         CANADA
         S40                      89     99   -10.1%     150     209   -28.2%
         V40                      52     57    -8.8%      84     117   -28.2%
         S60                     217    159    36.5%     383     284    34.9%
         S70                       0      4  -100.0%       0       3  -100.0%
         V70                      91     64    42.2%     130     131    -0.8%
         V70 XC                  120    150   -20.0%     273     183    49.2%
         C70                       3     17   -82.4%       6      23   -73.9%
         S80                      37     27    37.0%      63      60     5.0%
                        TOTAL    609    577     5.5%   1,089   1,010     7.8%
             NORTH AMERICA
                  GRAND TOTAL  8,646  8,428     2.6%  17,302  17,036     1.6%