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Volvo Cars Reports Eleventh Consecutive Sales Increase

September up 25.5 percent in the United States Irvine, CA (October 1, 2003) – Volvo Cars of North America, LLC. (VCNA) reports 10,453 units sold in the United States for the month, representing the best September on record for Volvo in North America. Sales were 25.5 percent over September of 2002. Volvo has surpassed its year-over-year monthly sales comparison for eleven consecutive months. September marks the earliest that Volvo Cars has passed the 100,000 sales milestones in the United States. For the year, the sales pace is 22.5 percent ahead of 2002. “An expanding interest in the brand, the continuing demand for our products, and our intensified focus on customer service are showing up in our sales results,” said Vic Doolan, VCNA President and CEO. “This has been our best ever first three quarters in the United States and with our all-new S40 on the horizon we’re looking for good things down the road,” Doolan said. Volvo’s all-new S40, introduced last month at the Frankfurt International Motor Show, will feature class-leading safety thanks to its unique approach to building a car – VIVA! (Volvo’s Intelligent Vehicle Architecture). The all-new S40 will be integral to meeting Volvo’s increased sales target for North America. Volvo’s new model will appear in showrooms in the spring of 2004. In the highlights for September, the XC90 continued to record strong sales despite several pipeline supply impediments to fulfilling the demand. The recently introduced S80AWD also contributed to a 19.3 percent increase in sales for that model. Overall, sales for NAFTA (United States – including Puerto Rico,* Canada, and Mexico) were 11,736 units – up 24 percent compared to the same period last year. Volvo sales in Canada increased 21.9 percent for the month, with notable sales performances by the S60, V70, XC70, and the C70. 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 2003 Volvo automobile line includes the XC90, the sporty S60 sedan – including the award-winning performance sedan – S60 R and its performance wagon counterpart – 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. * U.S. results include Puerto Rico for 2003

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