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Volvo Sets Sales Record

2 August 2000

Record Sales for 18th Consecutive Month and Best July in 10 Years

    ROCKLEIGH, N.J. - Sales continue to be strong for the new V70 and just 
released Cross Country all-wheel-drive wagon.  July caps over 18 consecutive 
months of year-to-year sales increases in the United States.  This also makes it 
Volvo Cars of North America's best July since 1990.

    "Despite being constrained on availability of 2001 product, we had a very
positive sales result for July.  The all new V70 sports wagon is being well
accepted by our customers and we are excited about the launch of the new Cross
Country which begins in August.  Media reaction has been extremely positive.
We are positioned for a great finish to the year with our new V70, Cross
Country, and S60 sedan set to debut in November." comments Mark LaNeve,
President and CEO Volvo Cars of North America.

                               MONTH-TO-DATE               YEAR-TO-DATE
                        2000       1999       %     2000      1999        %
    UNITED STATES
    S40                1,546          0     n/a   16,957         0      n/a
    V40                  374          0     n/a    3,545         1      n/a
    S70                1,277      2,417  -47.2%   15,245    22,622   -32.6%
    V70                2,357      2,187    7.8%   17,531    19,321    -9.3%
    C70                  439        655  -33.0%    3,493     4,124   -15.3%
    S80                2,567      2,950  -13.0%   18,969    20,050    -5.4%
    S90/V90                0          3     n/a        4        23      n/a
            TOTAL      8,560      8,212    4.2%   75,744    66,141    14.5%
    CANADA
    S40                  220          0     n/a      220       n/a      n/a
    V40                   36          0     n/a       36       n/a      n/a
    S70                  185        730  -74.7%    1,893     2,502   -24.3%
    V70                    0        135 -100.0%        0     1,458  -100.0%
    C70                   22         34  -35.3%      163       198   -17.7%
    S80                   72        121     n/a    1,137     1,131     0.5%
    TOTAL                279      1,020  -72.6%    3,193     5,289   -39.6%
    NORTH AMERICA
       GRAND TOTAL     8,839      9,232   -4.3%   78,937    71,430    10.5%

    U.S. Port Inventory:    9,686        U.S Dealer Inventory:    15,178