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Volvo Revised Sales - July

3 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.

                           RETAIL CAR SALES BY CAR LINE
                                    JULY 2000

                            MONTH-TO-DATE                YEAR-TO-DATE

    Revised to reflect 2001 model year Cross Country segment

                        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                2,252   2,187    3.0%       17,531   19,321  -9.3%
    V70 XC *             105       0     n/a          105      n/a    n/a
    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%       75,849   66,141  14.7%
    CANADA
    S40                  220       0     n/a          220      n/a    n/a
    V40                   36       0     n/a           36      n/a    n/a
    S70                  185     247  -25.1%        1,893    2,493 -24.1%
    V70                   94     134  -29.9%        1,304    1,466 -11.1%
    C70                   22      34  -35.3%          163      199 -18.1%
    S80                   72     121     n/a        1,137    1,131   0.5%
                TOTAL    629     536   17.4%        4,753    5,289 -10.1%
    NORTH AMERICA
       GRAND TOTAL     9,189   8,748    5.0%       80,602   71,430  12.8%

    * V70 XC, 2001 model year is EPA classified as a Light Duty Truck 2

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