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Friday 07 February, 2003

Volvo AB

Volvo trucks' new product range behind the str

VOLVO TRUCKS' NEW PRODUCT RANGE BEHIND THE STRONG UPTURN IN 2002

Volvo Trucks increased its deliveries by six percent in 2002 compared
with the previous year. 69,483 trucks were delivered despite change over
in production with lower volumes at the beginning of the year. The
launch of the new product range contributed to a very successful year
for Volvo Trucks.

The total world market for heavy trucks noted an all-time high at about
880,000 units. China accounted for a major proportion of the significant
increase in demand.
All the market divisions contributed to Volvo Trucks' strong
improvement.
The growth was greatest in Asia, where several countries noted record
sales, among them China (1,049, +89 percent) and South Korea (833, +71
percent). Iran was the largest market in Asia, increasing to 2,372 (+
179 percent).
Despite a shrinking total market in Brazil, Volvo made a good year with
increased sales (+3 percent) and became market leader.

Positive development in Europe
The European division had a very successful year with the launch of the
new truck range. Despite the 11 % decline in the market, Volvo met a
strong demand. This is the result of long-term efforts to increase
customer satisfaction and improved transport economy for the new Volvo
FH and Volvo FM.
Volvo was market leader in all Nordic countries and in some ten European
countries, including Belgium, its second home market. Volvo also
strenghtened its position in the very competitive German market.
Volvo Trucks' total market share in Western Europe dropped to 14.1
percent (14.4 percent) as a result of the low production rate at the
start of the year.
Increase in the USA
Volvo Trucks North America increased deliveries by 14 percent, mainly
because many customers chose to advance their truck purchases ahead of
forthcoming new tougher emissions regulations (EPA02), which came into
force on  October 1, 2002.
The new Volvo VN Series was launched during the autumn 2002. It received
a very warm welcome by customers and the trade press alike. The Volvo VN
is the only truck model that has been optimised to meet the new EPA02
norms. More than 6,000 orders have already been signed for the new
truck.

The new product range received a remarkably enthusiastic welcome and
demand far exceeded the company's expectations. The main factories in
Europe have been operating at full capacity  to secure deliveries to
customers. The factory in Curitiba, Brazil, also helped cut delivery
times by supplying cabs for the Volvo FH and Volvo FM

DELIVERIES PER REGION:
                JANUARY - DECEMBER              +-%

                2001                 2002      

TOTAL, EUROPE   39,384*              38,570      - 2

OF WHICH:                                      

WESTERN EUROPE  34,719               33,667      -3

EASTERN EUROPE  4,665                4,903       +5

NORTH AMERICA   13,016               14,900      +14

SOUTH AMERICA   4,620                4,739       + 3

ASIA            5,980                8,709       + 46

OTHER MARKETS   2,344                2,565       + 9

TOTAL           65,344*              69,483       + 6

* 2001 excl Mitsubishi Canter (1,925)

FEBRUARY 7, 2003

FOR FURTHER INFORMATION, PLEASE CONTACT:
CLAES CLAESON, VOLVO TRUCK CORPORATION,  PHONE NO +46 708 - 36 39 08
E-MAIL: [email protected]

                                                                                                                                                

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