Volvo Cars Reports an Increase in November Sales for North America

IRVINE, Calif., Dec. 3 -- Volvo Cars of North America, LLC reports sales are up 3.7 percent for November over the same period last year. The United States accounted for 7,770 units sold -- an increase of 4.1 percent. Sales in Canada were 738, representing a slight increase of 0.1 percent.

The S60 sedan continues to be the sales leader in the U.S., while the V70 made a strong showing -- up 15.2 percent in November, reinforcing Volvo's leadership position in the wagon segment. In Canada, the S 40 and V 40 put up impressive numbers with significant increases complementing the strength of the popular S60 and XC70 Cross Country models.

The Volvo XC90 began delivering in its first full month on the market. With unprecedented pre-sales, the XC90 signals good news for Volvo in the coming months.

Volvo Cars of North America, LLC is part of the Volvo Car Corporation of Goteborg, Sweden. The company provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the US, Canada, Mexico and Puerto Rico. The 2003 Volvo Cars model line-up includes the award-winning XC90, Volvo's first SUV, the rugged XC70 (Cross Country) and the versatile V70, the sporty S60 sedan, the flagship S80 luxury sedan, C70 convertible, and compact S40 and V40 models.

    NOTE:   Sales figures are for US and Canada only.

                VCNA RETAIL SALES BY CAR LINE - NOVEMBER 2002

                              MONTH-TO-DATE                 YEAR-TO-DATE

                        2002       2001       %       2002      2001        %
    UNITED STATES
    S40                1,022        982    4.1%     14,295    21,164   -32.5%
    V40                  191        168   13.7%      2,521     3,053   -17.4%
    S60                2,381      2,502   -4.8%     35,566    32,352     9.9%
    S70                    0          0     n/a          1       226   -99.6%
    V70                  912        792   15.2%     10,023    13,580   -26.2%
    V70 XC             1,205      1,721  -30.0%     18,212    21,894   -16.8%
    C70                  169        180   -6.1%      3,390     4,026   -15.8%
    S80                1,009      1,120   -9.9%     14,037    18,494   -24.1%
    XC90                 881          0     n/a      1,171         0      n/a
            TOTAL      7,770      7,465    4.1%     99,216   114,789   -13.6%


    CANADA
    S40                  149         84   77.4%      1,365     1,666   -18.1%
    V40                   77         44   75.0%        784     1,039   -24.5%
    S60                  218        282  -22.7%      3,078     2,629    17.1%
    S70                    0          0     n/a          0        10  -100.0%
    V70                   87        102  -14.7%      1,139     1,101     3.5%
    V70 XC               144        179  -19.6%      1,829     1,469    24.5%
    C70                    2          8  -75.0%         95       125   -24.0%
    S80                   46         38   21.1%        579       653   -11.3%
    XC90                  15          0     n/a         15         0      n/a
            TOTAL        738        737    0.1%      8,884     8,692     2.2%
    NORTH AMERICA
      GRAND TOTAL      8,508      8,202    3.7%    108,100   123,481   -12.5%