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Volvo Cars Sales Pace 3 Percent Ahead Year-To-Date, Best Ever

Records its Second Best May for North America

IRVINE, Calif., June 2 -- Volvo Cars of North America, LLC. (VCNA) announces that the first five months of 2004 are 3.3 percent higher than last year's record pace. The 56,141 units sold year-to-date is an all-time record for Volvo in the United States. Sales of 11,845 units for the month is Volvo Cars' second best May on record, trailing its 2003 benchmark by 10 percent.

For individual models, the XC90 continues to be the number one European brand SUV, with sales up 25 percent year-to-date. The C70 convertible remains a strong performer 13.3 percent ahead of last year, and the recently introduced all new S40 helped drive the segment 66 percent past the same month of 2003.

Overall in May, sales in North America totaled 13,236 units -- down 9.4 percent. For the month, Volvo sales in Canada accounted for 1,069 units, while sales in Mexico reached 322 units (down 6.1 percent and up 2.5 percent, respectively).

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 Volvo automobile model line includes the newly introduced award-winning 2004.5 all new S40, the award-winning 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.

  

                       VOLVO CARS OF NORTH AMERICA, LLC
                            Retail Sales by Model
                                  02-Jun-04
                                UNITED STATES

                                  May*                   Year-to-Date*
                          2004   2003     %        2004    2003     %
   Volvo Model
   S40                      47  1,031   -95.4%    4,670   5,937   -21.3%
   All New S40           1,714    n/a     n/a     3,908     n/a     n/a
   V40                     248    236     5.1%    1,059   1,389   -23.8%
   S60                   2,540  3,553   -28.5%   13,645  15,071    -9.5%
   V70                     861  1,394   -38.2%    4,617   5,174   -10.8%
   XC70                  1,239  1,359    -8.8%    5,542   7,175   -22.8%
   C70                     481    392    22.7%    1,819   1,605    13.3%
   S80                   1,154  1,400   -17.6%    5,732   5,829    -1.7%
   XC90                  3,561  3,795    -6.2%   15,149  12,162    24.6%

   USA TOTAL            11,845 13,160   -10.0%   56,141  54,342     3.3%
   CANADA
                                  May                    Year-to-Date
                          2004   2003     %        2004    2003     %
   Volvo Model
   S40                      28     70   -60.0%      255     480   -46.9%
   All New S40             n/a    n/a     n/a       n/a     n/a     n/a
   V40                      11     47   -76.6%      150     317   -52.7%
   S60                     385    262    46.9%    1,542   1,290    19.5%
   V70                     174    173     0.6%      645     474    36.1%
   XC70                    160    172    -7.0%      698     880   -20.7%
   C70                      24      8   200.0%       53      16   231.3%
   S80                      40     36    11.1%      260     211    23.2%
   XC90                    247    371   -33.4%      939     941    -0.2%

   CANADA TOTAL          1,069  1,139    -6.1%    4,542   4,609    -1.5%
   MEXICO
                                  May                    Year-to-Date
                          2004   2003     %        2004    2003     %
   Volvo Model
   S40                      17    120   -85.8%      198     483   -59.0%
   All New S40             153    n/a     n/a       275     n/a     n/a
   V40                       1      1     0.0%        6       7   -14.3%
   S60                      50     79   -36.7%      269     286    -5.9%
   V70                       0      0     n/a         0       4  -100.0%
   XC70                      1      1     0.0%        7       8   -12.5%
   C70                       0      2  -100.0%        6       9   -33.3%
   S80                       7     21   -66.7%       56      72   -22.2%
   XC90                     93     90     3.3%      392     219    79.0%

   MEXICO TOTAL            322    314     2.5%    1,209   1,088    11.1%

   NAFTA TOTAL          13,236 14,613    -9.4%   61,892  60,039     3.1%

      *U.S. totals include Puerto Rico