March Sales for Volvo Cars of North America

IRVINE, Calif., April 2 -- Led by the continuing strength of the Volvo S60 and the V70 Cross Country, Volvo Cars of North America, LLC. announces combined sales of 10,588 units for the United States and Canada.

However, the 9,732 unit sales for the United States represent a 22.1% decrease compared to the strong sales month last year. March of 2001 was one of the highest selling periods in the history of Volvo Cars in the North American market, partly due to strong fleet delivery.

Canadian Volvo sales totaled 856 units, up 13.5% in March and 10.3% ahead of the same period last year. Year to date sales of 27,898 units for the United States and Canada is off pace with last years' record by 7.9%.

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.

NOTE: There was one fewer selling day in March 2002 compared to March 2001, however the results are NOT adjusted.

                 VCNA RETAIL SALES BY CAR LINE -- March 2002

                                  MONTH-TO-DATE              YEAR-TO-DATE
                              2002    2001      %      2002    2001      %

         UNITED STATES
         S40                  1,248   2,205   -43.4%   3,294   5,116   -35.6%
         V40                    225     311   -27.7%     626     729   -14.1%
         S60                  3,771   3,444     9.5%   9,820   7,762    26.5%
         S70                      0      34  -100.0%       0     150  -100.0%
         V70                    952   1,793   -46.9%   2,795   3,867   -27.7%
         V70 XC               1,664   1,594     4.4%   4,552   4,442     2.5%
         C70                    370     619   -40.2%     805   1,252   -35.7%
         S80                  1,502   2,496   -39.8%   4,061   5,204   -22.0%
                      TOTAL   9,732  12,496   -22.1%  25,953  28,522    -9.0%

         CANADA
         S40                    116     187   -38.0%     266     396   -32.8%
         V40                     64     159   -59.7%     148     276   -46.4%
         S60                    300     164    82.9%     683     448    52.5%
         S70                      0       2  -100.0%       0       5  -100.0%
         V70                    107      79    35.4%     237     208    13.9%
         V70 XC                 196     104    88.5%     469     289    62.3%
         C70                      6      10   -40.0%      12      33   -63.6%
         S80                     67      49    36.7%     130     109    19.3%
                      TOTAL     856     754    13.5%   1,945   1,764    10.3%

            NORTH AMERICA
                GRAND TOTAL  10,588  13,250   -20.1%  27,898  30,286    -7.9%