Volvo Cars of North America Records Sixth Consecutive Month of Increases

IRVINE, Calif., May 1 -- Strong sales for the XC90 drove Volvo Cars of North America, LLC to its sixth consecutive month of year-to- year increased sales. In the United States, April sales of 10,928 units represent a 20.9 percent increase compared to the same period of a year ago. Since the beginning of 2003, Volvo has shown a consistent growth in market share.

"The XC90 continues to gain critical acclaim and is also energizing sales of the XC70 wagon which showed a sales growth of nearly 22 percent for the month," says VCNA president and CEO Vic Doolan.

Pre-orders for the XC90 extend through the summer. Volvo's first SUV has garnered nearly two dozen awards globally and has attained the highest ratings for its safety standards.

"Following an impressive first three months, April has proven to be a great beginning for the second quarter," said Doolan. "And with the buzz surrounding the S60 R and V70 R, we're seeing many customers taking a new look at Volvo.

"Volvo's - 300 hp / 295 lb. ft. of torque - performance sedan and wagon will arrive to showrooms this month, but are already amassing accolades of their own. Volvo announced at the recent New York Auto Show that the S60 R was named the "Most Significant New Vehicle for 2004" by European Car magazine.

The much-anticipated R cars have also piqued consumer interest with nearly 2,000 pre-orders.

Overall, sales for NAFTA (United States -- including Puerto Rico, Canada, and Mexico) reached 12,304 units -- the best April on record in North America, and sales are 17 percent ahead of 2002 year-to-date. Led by strong sales of the S60 and the S80, total sales in Canada were 1,125, up 9.2 percent.

VCNA is part of the Volvo Car Corporation of Gothenburg, Sweden. The company provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States, Canada, Mexico and Puerto Rico.

The 2003 Volvo automobile line includes the award-winning XC90, the sporty S60 sedan, the flagship S80 luxury sedan, versatile V70 wagon and rugged XC70 (Cross Country), the C70 convertible, and the compact S40 and V40 models.

NOTE: U.S. results include Puerto Rico for 2003

VOLVO CARS OF NORTH AMERICA, LLC Retail Sales by Model UNITED STATES April Year-to-Date 2003* 2002 % 2003* 2002 % Volvo Model S40 1,042 1,388 -24.9% 4,906 4,682 4.8% V40 288 288 0.0% 1,153 914 26.1% S60 3,100 3,427 -9.5% 11,518 13,247 -13.1% V70 1,076 857 25.6% 3,780 3,651 3.5% XC70 1,783 1,463 21.9% 5,816 6,016 -3.3% C70 337 391 -13.8% 1,213 1,196 1.4% S80 1,028 1,225 -16.1% 4,429 5,286 -16.2% XC90 2,274 n/a n/a 8,367 n/a n/a USA TOTAL 10,928 9,039 20.9% 41,182 34,992 17.7% CANADA April Year-to-Date 2003 2002 % 2003 2002 % Volvo Model S40 110 157 -29.9% 410 423 -3.1% V40 61 97 -37.1% 270 245 10.2% S60 378 370 2.2% 1,028 1,053 -2.4% V70 116 121 -4.1% 301 358 -15.9% XC70 185 201 -8.0% 708 670 5.7% C70 2 17 -88.2% 8 29 -72.4% S80 82 67 22.4% 175 197 -11.2% XC90 191 n/a n/a 570 n/a n/a CANADA TOTAL 1,125 1,030 9.2% 3,470 2,975 16.6% MEXICO April Year-to-Date 2003 2002 % 2003 2002 % Volvo Model S40 95 184 -48.4% 363 422 -14.0% V40 0 7 -100.0% 6 23 -73.9% S60 56 79 -29.1% 207 295 -29.8% V70 0 1 -100.0% 4 4 0.0% XC70 1 5 -80.0% 7 31 -77.4% C70 5 4 25.0% 7 12 -41.7% S80 5 22 -77.3% 51 72 -29.2% XC90 89 n/a n/a 129 n/a n/a MEXICO TOTAL 251 302 -16.9% 774 859 -9.9% NAFTA GRAND TOTAL 12,304 10,371 18.6% 45,426 38,826 17.0% * USA Totals include Puerto Rico for 2003