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Volvo Cars Sales Increase for Tenth Month in a Row

... up 11.6 Percent for August in the United States

IRVINE, Calif., Sept. 3 -- Volvo Cars of North America, LLC. (VCNA) reports 11,885 units sold in the United States for the month, which represents an 11.6 percent increase compared to August of 2002. Volvo has surpassed its year-over-year monthly sales comparison for ten consecutive months.

"Against a backdrop of an ultra-competitive marketplace, Volvo year-to- date sales are more than 22 percent above what they were last year and with notable stories throughout the model line-up, we're poised to close out the third quarter at a record pace," said Vic Doolan, VCNA President and CEO. "We're also excited about the introduction of our latest Volvo next week at the Frankfurt International Motor Show. The all-new S40 will be a very important vehicle for us," Doolan said.

The strength of the Volvo line continues to be the XC90, the company's award-winning SUV. But as with previous months, other products seem to come to the forefront in their supporting roles contributing to total sales. August was one of the top selling months for the C70, Volvo's class-leading convertible, since it's introduction in 1997.

Overall, sales for NAFTA (United States - including Puerto Rico,* Canada, and Mexico) were 12,917 units - up 11.5 percent compared to the same period last year. Volvo sales in North America for the year are 21 percent ahead of 2002.

Volvo sales in Canada increased 13.0 percent for the month. Sales in Mexico were up slightly at .5 percent.

VCNA, part of the Volvo Car Corporation of Gothenburg, Sweden, 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 XC90, the C70 convertible, the sporty S60 sedan - including the award-winning performance sedan - S60 R and its performance wagon counterpart - V70 R, the flagship S80 luxury sedan, versatile V70 wagon and rugged XC70 (Cross Country), and the compact S40 and V40 models.

   *  U.S. results include Puerto Rico for 2003

  VOLVO CARS OF NORTH AMERICA, LLC

  Retail Sales by Model

                                UNITED STATES
                         August                      Year-to-Date
                2003*     2002      %        2003*       2002        %
  Volvo Model
  S40           1,150    1,440   -20.1%      9,654      10,889   -11.3%
  V40             292      231    26.4%      2,169       1,861    16.6%
  S60           3,491    3,957   -11.8%     25,112      27,821    -9.7%
  V70             792      917   -13.6%      8,213       6,833    20.2%
  XC70          1,654    2,166   -23.6%     11,518      14,070   -18.1%
  C70             598      364    64.3%      3,101       2,660    16.6%
  S80           1,094    1,578   -30.7%      9,507      10,582   -10.2%
  XC90          2,814      n/a      n/a     21,972         n/a      n/a

  USA TOTAL    11,885   10,653    11.6%     91,246      74,716    22.1%

                                    CANADA
                         August                      Year-to-Date
                  2003    2002      %         2003       2002         %
  Volvo Model
  S40              84      97     -13.4%       818        938    -12.8%
  V40              57      58      -1.7%       532        585     -9.1%
  S60             272     269       1.1%     2,060      2,299    -10.4%
  V70              73      83     -12.0%       761        869    -12.4%
  XC70            168     183      -8.2%     1,380      1,326      4.1%
  C70               4       1     300.0%        47         84    -44.0%
  S80              36      53     -32.1%       319        450    -29.1%
  XC90            147     n/a        n/a     1,520        n/a       n/a

  CANADA TOTAL    841     744      13.0%     7,437      6,551     13.5%

                                    MEXICO
                         August                      Year-to-Date
                  2003    2002       %       2003        2002         %
  Volvo Model
  S40              94       77     22.1%      764         914     -16.4%
  V40               0        0      0.0%       12          28     -57.1%
  S60              51       85    -40.0%      480         586     -18.1%
  V70               0        2   -100.0%        4          14     -71.4%
  XC70              2        4    -50.0%       14          52     -73.1%
  C70               1        2      100%       12          20     -40.0%
  S80               9       20    -55.0%      120         173     -30.6%
  XC90             34      n/a       n/a      393         n/a        n/a

  MEXICO TOTAL    191     190       0.5%    1,799       1,787       0.7%

  NAFTA
   TOTAL       12,917   11,587     11.5%  100,482      83,054      21.0%

   *USA Totals include Puerto Rico for 2003