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Volvo Reports May Sales

2 June 2000

Volvo Sales Up for a Record 16th Consecutive Month

    ROCKLEIGH, N.J., June 1 Led by strong S40 and V40 sales as
well as the introduction of the all-new V70 sportswagon, Volvo Cars of North
America, Inc. achieved 12,654 unit sales in May 2000 compared with
11,633 during the same period in 1999, an increase of 8.8 percent.
    "We are benefiting from the momentum of the wagon segment," declares Hans-
Olov Olsson, VCNA President and CEO.  "High performance sportswagons are
becoming a hot segment and as the leader, Volvo is seeing an extremely
positive impact.  This is a trend we expect to continue as we look forward to
the launch of the new Cross-Country later this summer."

                                  MONTH-TO-DATE              YEAR-TO-DATE
                              2000    1999      %       2000     1999      %
    UNITED STATES
    S40                      2,666     n/a     n/a     12,209     n/a     n/a
    V40                        721     n/a     n/a      2,495       1     n/a
    S70                      2,647   3,888   -31.9%    11,511  16,392   -29.8%
    V70                      2,807   2,925    -4.0%    12,094  13,600   -11.1%
    C70                        546     774   -29.5%     2,477   2,602    -4.8%
    S80                      2,392   3,125   -23.5%    13,188  13,955    -5.5%
    S90/V90                    n/a       3     n/a          1      20     n/a
        TOTAL               11,779  10,715     9.9%    53,975  46,570    15.9%
    CANADA
    S70                        359     393    -8.7%     1,226    1680   -27.0%
    V70                        334     286    16.8%     1,010     970     4.1%
    C70                         38      68   -44.1%       101     117   -13.7%
    S80                        144     171   -15.8%       923     836    10.4%
        TOTAL                  875     918    -4.7%     3,260   3,603    -9.5%
      NORTH AMERICA
        GRAND TOTAL         12,654  11,633     8.8%    57,235  50,173    14.1%