XC90 Leads Volvo Car Sales for December

IRVINE, Calif., Jan. 3, 2003; Volvo Cars of North America, LLC (VCNA) announces sales of 12,012 units for December. The combined total for the United States and Canada represented a 4.8 percent increase compared with the same period of 2001.

"In the last four months Volvo has outperformed the overall market due primarily to the very positive acceptance of the XC90, Volvo's first SUV," said Vic Doolan, President and CEO of Volvo Cars of North America. "The waiting list for the award-winning XC90 extends through the first quarter of 2003 and this combined with the introduction of the all-powerful S60 R and V70 R aligns well for positive growth in 2003," he said.

In 2002, Volvo sales were down by 12 percent in the U.S. and in Canada Volvo sales grew by 2.2 percent. In addition, sales in Mexico and Puerto Rico were up 13.4 percent with 2701 units sold and 109.9 percent with 615 units sold, respectively.

For North America, total sales for the year of 120,112 represents a 11 percent decrease from the mark set during 2001 -- the third consecutive record year for Volvo. Mexico and Puerto are not currently included in the overall VCNA report.

VCNA is part of the Volvo Car Corporation of Goteborg, Sweden. The company provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States, Canada, Mexico and Puerto Rico.

The 2003 Volvo automobile line includes the award-winning XC90, the sporty S60 sedan, the flagship S80 luxury sedan, versatile V70 wagon and rugged Cross Country, the C70 convertible, and the compact S40 and V40 models.

    VCNA RETAIL SALES BY CAR LINE - December 2002

                                MONTH-TO-DATE            YEAR-TO-DATE
                            2002    2001     %       2002     2001     %
      UNITED STATES
      S40                  1,088   1,377  -21.0%   15,383   22,541  -31.8%
      V40                    208     254  -18.1%    2,729    3,307  -17.5%
      S60                  2,980   3,503  -14.9%   38,546   35,850    7.5%
      S70                      0       0    n/a         1      226  -99.6%
      V70                    841   1,248  -32.6%   10,863   14,796  -26.6%
      V70 XC               1,605   2,411  -33.4%   19,818   24,305  -18.5%
      C70                    202     197    2.5%    3,592    4,223  -14.9%
      S80                  1,322   1,931  -31.5%   15,359   20,425  -24.8%
      XC90                 3,208       0    n/a     4,379        0    n/a
                TOTAL     11,454  10,921    4.9%  110,670  125,710  -12.0%
      CANADA
      S40                     89      69   29.0%    1,454    1,735  -16.2%
      V40                     57      46   23.9%      842    1,085  -22.4%
      S60                    138     170  -18.8%    3,226    2,799   15.3%
      S70                      0       0    n/a         2       10  -80.0%
      V70                     54      82  -34.1%    1,181    1,183   -0.2%
      V70 XC                 146     142    2.8%    1,976    1,611   22.7%
      C70                      4       5  -20.0%       98      130  -24.6%
      S80                     18      31  -41.9%      596      684  -12.9%
      XC90                    52       0    n/a        67        0    n/a
                TOTAL        558     545    2.4%    9,442    9,237    2.2%

           U.S. & CANADA
            GRAND TOTAL   12,012  11,466    4.8%  120,112  134,947  -11.0%