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Volvo Cars Reports Eleventh Consecutive Sales Increase

... September up 25.5 percent in the United States

IRVINE, Calif., Oct. 1 -- Volvo Cars of North America, LLC. (VCNA) reports 10,453 units sold in the United States for the month, representing the best September on record for Volvo in North America. Sales were 25.5 percent over September of 2002. Volvo has surpassed its year-over-year monthly sales comparison for eleven consecutive months.

September marks the earliest that Volvo Cars has passed the 100,000 sales milestone in the United States. For the year, the sales pace is 22.5 percent ahead of 2002.

"An expanding interest in the brand, the continuing demand for our products, and our intensified focus on customer service are showing up in our sales results," said Vic Doolan, VCNA President and CEO. "This has been our best ever first three quarters in the United States and with our all-new S40 on the horizon we're looking for good things down the road," Doolan said.

Volvo's all-new S40, introduced last month at the Frankfurt International Motor Show, will feature class-leading safety thanks to its unique approach to building a car -- VIVA! (Volvo's Intelligent Vehicle Architecture). The all-new S40 will be integral to meeting Volvo's increased sales target for North America. Volvo's new model will appear in showrooms in the spring of 2004.

In the highlights for September, the XC90 continued to record strong sales despite several pipeline supply impediments to fulfilling the demand. The recently introduced S80AWD also contributed to a 19.3 percent increase in sales for that model.

Overall, sales for NAFTA (United States -- including Puerto Rico,* Canada, and Mexico) were 11,736 units -- up 24 percent compared to the same period last year. Volvo sales in Canada increased 21.9 percent for the month, with notable sales performances by the S60, V70, XC70, and the C70.

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 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), the C70 convertible, 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                                1-Oct-03

                                UNITED STATES

                         September                    Year-to-Date
                 2003*     2002       %        2003*      2002         %
  Volvo Model
  S40             885     1,201    -26.3%     10,539     12,090    -12.8%
  V40             242       262     -7.6%      2,411      2,123     13.6%
  S60           2,543     2,798     -9.1%     27,655     30,619     -9.7%
  V70             721     1,060    -32.0%      8,934      7,893     13.2%
  XC70          1,362     1,613    -15.6%     12,880     15,683    -17.9%
  C70             330       327      0.9%      3,431      2,987     14.9%
  S80           1,278     1,071     19.3%     10,785     11,653     -7.4%
  XC90          3,092       n/a       n/a     25,064        n/a       n/a

  USA TOTAL    10,453     8,332     25.5%    101,699     83,048     22.5%

                                    CANADA
                        September                      Year-to-Date
                 2003      2002        %        2003       2002       %
  Volvo Model
  S40             107       157    -31.8%        925      1,095    -15.5%
  V40              57        60     -5.0%        589        646     -8.8%
  S60             323       275     17.5%      2,383      2,569     -7.2%
  V70             112        93     20.4%        873        967     -9.7%
  XC70            198       176     12.5%      1,578      1,502      5.1%
  C70               7         6     16.7%         54         90    -40.0%
  S80              25        50    -50.0%        344        499    -31.1%
  XC90            167       n/a       n/a      1,687        n/a       n/a

  CANADA TOTAL    996       817     21.9%      8,433      7,368     14.5%

                                    MEXICO
                         September                    Year-to-Date
                 2003      2002        %        2003       2002       %
  Volvo Model
  S40              79       172    -54.1%        843      1,086    -22.4%
  V40               2         3      0.0%         14         31    -54.8%
  S60              81       111    -27.0%        561        697    -19.5%
  V70               0         6   -100.0%          4         20    -80.0%
  XC70              3         5    -40.0%         17         57    -70.2%
  C70               1         2      -50%         13         22    -40.9%
  S80              16        15      6.7%        136        188    -27.7%
  XC90            105       n/a       n/a        498        n/a       n/a

  MEXICO TOTAL    287       314     -8.6%      2,086      2,101     -0.7%

  NAFTA TOTAL  11,736     9,463     24.0%    112,218     92,517     21.3%

  *USA Totals include Puerto Rico for 2003