Volvo AB

Truck deliveries - july 2002

TRUCK DELIVERIES - JULY 2002
Deliveries from Volvo's truck operations, which includes Volvo Trucks,
Mack Trucks, Inc., and Renault Trucks increased by 29% for the month of
July, compared with the same month last year. On a year-to-date basis,
deliveries amounted to 89,776 trucks compared with 91,872 trucks for the
same period last year, a decrease of 2 %. In Europe, deliveries declined
by 5 % to 54,943 while North America declined with  3% to 21,244 trucks
compared with the same period last year.

"July was a strong month for deliveries of new trucks, but somewhat weak
with regard to the order intake. In the USA, both the high delivery rate
and the slow order intake are results of customers pre-buying trucks
before the new emission regulations come into effect in October this
year," says Volvo's CEO Leif Johansson.
On a 12-month rolling basis, order intake for the truck brands was 1%
lower than last year, with North America down 10% and Europe up 1%.

Deliveries by market area:

Delivered Units     Year-to-Date        Change
Volvo Group                 2002   2001        
Europe                    54,943 58,126     -5%
    Western Europe        50,366 54,135     -7%
    Eastern Europe         4,577  3,991     15%
North America             21,244 21,904     -3%
South America              2,982  3,429    -13%
Asia                       4,808  2,857     68%
Other markets              5,799  5,556      4%
Total Volvo Group         89,776 91,872     -2%
Mack Trucks, Inc.
As expected, the surge in North American heavy-duty truck order intake
ended in July, following the filling of available production slots for
trucks with pre-EPA '02 engines.

Deliveries by market area:
Delivered Units         Year-to-Date        Change
Mack Trucks Inc.                2002   2001        
Europe                                    2    n.a.
    Western Europe                             n.a.
    Eastern Europe                        2    n.a.
North America                 13,204 13,853     -5%
South America                    373    686    -46%
Asia                               8     14    -43%
Other markets                    535    507      6%
Total Mack Trucks Inc.        14,120 15,062     -6%


Renault Trucks
Although the European market has slowed down in the first half of this
year compared to last year, deliveries from Renault Trucks at the end of
July was roughly the same as in 2001. Renault Trucks' positive results
are attributable to their broad range of trucks combined with a good
market mix.

Deliveries of the new Renault Magnum, launched in September last year,
have increased, while Renault Premium has followed the downward market
trend. The light trucks have had a positive trend in the deliveries,
while heavy trucks have had a moderate slowdown.

Deliveries by market area:
Delivered Units       Year-to-Date        Change
Renault Trucks                2002   2001        
Europe                      34,262 33,729      2%
    Western Europe          32,217 32,141      0%
    Eastern Europe           2,045  1,588     29%
Asia                           138    322    -57%
Other markets                3,594  3,687     -3%
Total Renault Trucks        37,994 37,738      1%
Volvo Trucks
Volvo Trucks is continuing its efforts to raise production capacity,
primarily in Göteborg and Gent, in order to meet the strong demand for
the new Volvo FH and Volvo FM.
Volvo Trucks recently introduced a completely new truck program for the
North American market, making it the only manufacturer who has developed
a new truck to meet the stricter environmental regulations.

Deliveries by market area:
Delivered Units     Year-to-Date        Change
Volvo Trucks                2002   2001        
Europe                    20,681 24,395    -15%
    Western Europe        18,149 21,994    -17%
    Eastern Europe         2,532  2,401      5%
North America              8,040  8,051      0%
South America              2,609  2,743     -5%
Asia                       4,662  2,521     85%
Other markets              1,670  1,362     23%
Total Volvo Trucks        37,662 39,072     -4%



August 26, 2002

For further information, please contact:
Bernard Lancelot, Renault Trucks, +33 4 72 96 27 59
Bob Martin, Mack Trucks, Inc. +1 (610) 709-2670
Claes Claeson, Volvo Truck Corporation, +46 31 66 39 08,  0708-36 39 08