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Volvo Continues Aggressive Growth; Up 21% in U.S. Sales

2 February 2000

Volvo Continues Aggressive Growth; Up 21% in U.S. Sales

    ROCKLEIGH, N.J., Feb. 1 -- Volvo Cars of North America, Inc.
posted a 21.1 percent increase in U.S. monthly sales at 9,256, compared with
7,643 units sold in January 1999.
    This strong showing offers encouragement as we set out to break the sales
records we set in 1999, states Hans-Olov Olsson, VCNA President and CEO.
    The S80 luxury sedan was up 13.9 percent compared with the same period
last year.  C70 coupe and convertible also show considerable gains.  V70 fell
as expected, with the premiere of the all new wagon line at the North American
International Auto Show in Detroit earlier in January.  The all new V70 is
scheduled to go on sale April 1.
    Sales in Canada were down this month as that market awaits the
introduction of the S40 and V40 later this year.  The upcoming launch of the
all new V70 will further help refresh the model line and recapture momentum.

                               MONTH-TO-DATE               YEAR-TO-DATE

                        2000       1999       %     2000      1999        %

    UNITED STATES

    S40                2,181        n/a     n/a    2,181       n/a      n/a

    V40                  383          1     n/a      383         1      n/a

    S70                1,894      2,901  -34.7%    1,894     2,901   -34.7%

    V70                2,059      2,387  -13.7%    2,059     2,387   -13.7%

    C70                  368        268   37.3%      368       268    37.3%

    S80                2,371      2,082   13.9%    2,371     2,082      n/a

    S90/V90              n/a          4     n/a      n/a         4      n/a

         TOTAL         9,256      7,643   21.1%    9,256     7,643    21.1%

    CANADA

    S70                   81        199  -59.3%       81       199   -59.3%

    V70                   87        134  -35.1%       87       134   -35.1%

    C70                    6          7  -14.3%        6         7   -14.3%

    S80                   79         97     n/a       79        97   -18.6%

         TOTAL           253        437  -42.1%      253       437   -42.1%

    NORTH AMERICA
     GRAND TOTAL       9,509      8,080   17.7%    9,509     8,080    17.7%


    U.S. Port Inventory: 6,322               U.S. Dealer Inventory: 19,381