Volvo Cars Announces April sales for North America

IRVINE, Calif., May 1 The S60 remains a strong performer for Volvo Cars of North America, LLC. (VCNA) with sales 24.3% ahead of last year, but overall sales were sluggish for April, the company reported. The 10,069 units sold in the United States and Canada during the month, represents a 7.7% decline compared with April of 2001.

In a move aimed at strengthening Volvo retail operations, Dan Werbin, VCNA President and CEO, named Marti Eulberg to the position of Executive Vice President. Eulberg will have responsibilities for all regional Sales and Retail Operations in the United States. "We have put a new organizational structure in place that allows us to better serve our Retailers and Marti is just the person to execute the plan," said Werbin.

Meanwhile, Volvo volumes in Canada were up 23.9% in April, posting sales of 1,030 units. Year-to-date sales in the United States and Canada combined is off pace with last years' record by 7.8%.

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.

                                                                May 1, 2002

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

                               MONTH-TO-DATE              YEAR-TO-DATE
                        2002       2001       %     2002      2001        %
    UNITED STATES
    S40                1,388      2,191  -36.6%    4,682     7,307   -35.9%
    V40                  288        315   -8.6%      914     1,044   -12.5%
    S60                3,427      2,897   18.3%   13,247    10,659    24.3%
    S70                    0         27 -100.0%        0       177  -100.0%
    V70                  857      1,003  -14.6%    3,651     4,845   -24.6%
    V70 XC             1,463      1,498   -2.3%    6,016     5,965     0.9%
    C70                  391        466  -16.1%    1,196     1,718   -30.4%
    S80                1,225      1,682  -27.2%    5,286     6,886   -23.2%
    TOTAL              9,039     10,079  -10.3%   34,992    38,601    -9.3%
    CANADA
    S40                  157        168   -6.5%      423       564   -25.0%
    V40                   97         96    1.0%      245       372   -34.1%
    S60                  370        241   53.5%    1,053       689    52.8%
    S70                    0          1     n/a        0         6  -100.0%
    V70                  121         89   36.0%      358       297    20.5%
    V70 XC               201        143   40.6%      670       432    55.1%
    C70                   17         15   13.3%       29        48   -39.6%
    S80                   67         78  -14.1%      197       187     5.3%
       TOTAL           1,030        831   23.9%    2,975     2,595    14.6%
    NORTH AMERICA
     GRAND TOTAL      10,069     10,910   -7.7%   37,967    41,196    -7.8%

    NOTE: The results do not reflect Daily Sales Rate Adjustment