VOLVO BRAND JUNE 2002 U.S. SALES - Sales Down 23%

IRVINE, Calif., July 2 /PRNewswire/ -- Volvo Cars of North America, LLC (VCNA) reports an upward trend in sales from May to June of 23%, led by the S60, which recorded an all-time record high.

Compared with the same month last year, the 10,959 total sales in the United States were down 23.5%.* Sales at Volvo Canada were down slightly by 1.9% for the month. June of 2001 was Volvo Cars' best month ever in North America.

The principal reason for the downturn versus June 2001 is the continued focus on Retail sales and the reduced sale to Rental companies.

VCNA provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the U.S., Canada, Mexico and Puerto Rico.

The 2002 Volvo automobile line includes the sporty S60, the flagship S80 luxury sedan, the versatile V70 wagon and rugged Cross Country, C70 Coupe and convertible, and the compact S40 and V40 models.

    *  Denotes Daily Sales Rate Adjustment in the U.S.
       (more selling days in 2001 than 2002)

         VCNA RETAIL SALES BY CAR LINE - - June 2002
                                  MONTH-TO-DATE              YEAR-TO-DATE
                              2002    2001      %      2002    2001      %
         UNITED STATES                          *                        *
         S40                  1,706   2,579   -31.2%   7,449  12,605   -40.5%
         V40                    268     418   -33.3%   1,378   1,848   -24.9%
         S60                  4,021   4,025     3.9%  20,356  18,045    13.5%
         S70                      0       7  -100.0%      19     208   -90.8%
         V70                    793   2,103   -60.8%   5,195   8,261   -36.7%
         V70 XC               2,388   2,978   -16.6%   9,820  10,878    -9.1%
         C70                    387     449   -10.4%   1,952   2,687   -26.9%
         S80                  1,396   2,545   -43.0%   7,803  11,264   -30.3%
                      TOTAL  10,959  15,104   -24.5%  53,972  65,796   -17.4%
         CANADA
         S40                    172     195   -11.8%     747     958   -22.0%
         V40                     89     108   -17.6%     465     593   -21.6%
         S60                    319     269    18.6%   1,698   1,278    32.9%
         S70                      0       1  -100.0%       0       8  -100.0%
         V70                    165     142    16.2%     679     587    15.7%
         V70 XC                 169     175    -3.4%     989     726    36.2%
         C70                     18      26   -30.8%      73      88   -17.0%
         S80                     74     110   -32.7%     344     390   -11.8%
                      TOTAL   1,006   1,026    -1.9%   4,995   4,628     7.9%
            NORTH AMERICA
                GRAND TOTAL  11,965  16,130   -22.9%  58,967  70,424   -16.3%

         * Daily Sales Rate Adjustment (U.S. only)
           

Total Volvo 10,959 15,104 -24.5 53,972 65,796 -17.4