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Volvo Cars Sets New September Mark for U.S.

Year-to-Date Sales are 2.9 Percent Ahead of Last Year's Record Pace

IRVINE, Calif., Oct. 1 -- Volvo Cars of North America, LLC reports a 1.1 percent increase in sales for the month -- the best September ever. With 10,566 units sold, Volvo Cars wrapped up its best third quarter on record, by establishing new monthly records in three consecutive months.

The all-new Volvo S40 continued its strong performance. Total sales of S40 through three quarters have surpassed the same period last year by 62.7 percent.

Looking ahead, the next iteration of Volvo's ground-breaking SUV, the XC90 with a V8 powertrain, was unveiled at the Paris Motor Show. Volvo Cars' first V8 packages 311 bhp and 325 lb/ft of torque, while being the first gasoline V8 introduced to meet ULEV II emission standards.

The XC90 remains the best selling European SUV in the United States. XC90 sales for the month were 3,222 -- a 4.2 percent increase over last year. The V8 will appear in showrooms in early 2005.

Volvo wagons performed well with sales up for the V70 and XC70, increases of 6.4 percent and 7 percent, respectively.

NAFTA (United States, Puerto Rico, Canada, and Mexico) recorded sales for September of 12,035 -- up 2.5 percent. Year-to-date sales are ahead of last year by 3 percent. Sales in Canada set a September record, up 16.6 percent. In Mexico sales increased 7.3 percent.

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

The Volvo automobile model line includes the award-winning 2004.5 all-new S40 and its wagon counterpart the all-new V50, the award-winning XC90, the sporty S60 sedan -- including the award-winning performance sedan -- S60 R and the performance wagon version -- V70 R, the flagship S80 luxury sedan, versatile V70 wagon and rugged XC70 (Cross Country), the C70 convertible, and the compact S40 and V40 models.

  Volvo Media Website: www.volvocars-pr.com

  VOLVO CARS OF NORTH AMERICA, LLC
  Retail Sales by Model                                         01-Oct-04

                                UNITED STATES
                              September *              Year-to-Date *
                      2004      2003     %      2004      2003       %
  Volvo Model
  S40                    3       885  -99.7%    4,721    10,539   -55.2%
  All New S40        2,020       n/a    n/a    12,423       n/a     n/a
  V40                   33       242  -86.4%    1,488     2,411   -38.3%
  V50                  335       n/a    n/a       929       n/a     n/a
  S60                1,561     2,543  -38.6%   22,606    27,655   -18.3%
  V70                  767       721    6.4%    8,434     8,934    -5.6%
   XC70              1,457     1,362    7.0%   12,888    12,880     0.1%
  C70                  294       330  -10.9%    3,228     3,431    -5.9%
  S80                  874     1,278  -31.6%   10,523    10,785    -2.4%
  XC90               3,222     3,092    4.2%   27,384    25,064     9.3%

  USA TOTAL         10,566    10,453    1.1%  104,624   101,699     2.9%

                                    CANADA
                               September                Year-to-Date
                       2004      2003    %       2004      2003      %
  Volvo Model
  S40                    1       107  -99.1%      278       925   -69.9%
  All New S40          234       n/a    n/a       583       n/a     n/a
  V40                    2        57  -96.5%      163       589   -72.3%
  V50                   70       n/a    n/a       195       n/a     n/a
  S60                  286       323  -11.5%    2,450     2,383     2.8%
  V70                   75       112  -33.0%      958       873     9.7%
  XC70                 197       198   -0.5%    1,602     1,578     1.5%
  C70                    6         7  -14.3%       96        54    77.8%
  S80                   33        25   32.0%      390       344    13.4%
  XC90                 257       167   53.9%    1,897     1,687    12.4%

  CANADA TOTAL       1,161       996   16.6%    8,612     8,433     2.1%

                                    MEXICO
                               September               Year-to-Date
                       2004      2003    %       2004      2003      %
  Volvo Model
  S40                    5        79  -93.7%      218       843   -74.1%
  All New S40          140       n/a    n/a       868       n/a     n/a
  V40                    0         2  100.0%        9        14   -35.7%
  V50                    0       n/a    n/a         0       n/a     n/a
  S60                   51        81  -37.0%      466       561   -16.9%
  V70                    0         0    n/a         0         4  -100.0%
   XC70                  0         3 -100.0%       10        17   -41.2%
  C70                    1         1    0.0%       10        13   -23.1%
  S80                   10        16  -37.5%       93       136   -31.6%
  XC90                 101       105   -3.8%      679       498    36.3%

  MEXICO TOTAL         308       287    7.3%    2,353     2,086    12.8%

  NAFTA TOTAL       12,035    11,736    2.5%  115,589   112,218     3.0%

  *U.S. totals include Puerto Rico