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Volvo AB (VOL)

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Monday 24 June, 2002

Volvo AB

Miscellaneous



TRUCK DELIVERIES - MAY 2002

Deliveries from Volvo's truck operations, which includes Volvo Trucks,
Mack Trucks Inc., and Renault Trucks increased by 8% for the month of
May, compared with the same month last year. On a year-to-date basis,
deliveries amounted to 62,064 trucks compared with 68,738 trucks for the
same period last year, a decrease of 10 %. In Europe, deliveries
declined by 11 % to 38,989, and 14,183 trucks were delivered in North
America, which is 14 % less compared with the same period last year.
However, the order intake improved during the first five months.

"It is satisfying to see that the order intake continues to develop
well. This year all three brands have had higher order intake compared
with last year. This development is supported by a strong performance in
Asia and Eastern Europe. A contributing factor is also the improved
order intake in North America in connection to the introduction of new
emissions regulations in October this year" says Volvo's CEO, Leif
Johansson.

On a 12-month rolling basis, order intake for the truck brands was at
the same level as last year, with North America down 16% and Europe up
5%.

Deliveries by market area:
                      Year-to-Date                Change
Delivered Units
Volvo Group                   2002        2001             
Europe                      38,989      43,986         -11%
 Western Europe             36,044      41,105         -12%
 Eastern Europe              2,945       2,881           2%
North America               14,183      16,475         -14%
South America                2,078       2,495         -17%
Asia                         2,972       2,086          42%
Other markets                3,842       3,696           4%
Total Volvo Group           62,064      68,738         -10%

Mack Trucks Inc.
Deliveries from Mack Trucks, Inc. through May were down 17% compared
with the same period last year.

Order intake continued to be strong through most of May, but commercial
activity slowed late in the month as truck manufacturers (including
Mack) began to confirm that production slots for trucks with pre-EPA '02
engines were no longer available.

Deliveries by market area:
                      Year-to-Date                Change
Delivered Units
Mack Trucks Inc.              2002        2001             
North America                8,750      10,561         -17%
South America                  303         435         -30%
Asia                             4           3          33%
Other markets                  356         312          14%
Total Mack Trucks            9,413      11,311         -17%
Inc.



Renault Trucks
The sales volumes of Renault Trucks are still following the overall
market in Western Europe. The strong development in Eastern Europe
continues and the overall sales of Renault Magnum continue to increase
along with its order intake.

Deliveries by market area:
                      Year-to-Date                Change
Delivered Units
Renault Trucks                2002        2001             
Europe                      24,595      25,384          -3%
 Western Europe             23,251      24,227          -4%
 Eastern Europe              1,344       1,157          16%
Asia                           125         230         -46%
Other markets                2,274       2,543         -11%
Total Renault Trucks        26,994      28,157          -4%





Volvo Trucks

The change-over of the production of the new Volvo FH and Volvo FM has
been completed. The order intake is well above expectations and
production is now running at full speed in Europe. The focus is now to
further increase the production efficiency, to meet the very strong
demand from the market.



Deliveries by market area:
                      Year-to-Date                Change
Delivered Units
Volvo Trucks                  2002        2001             
Europe                      14,394      18,602         -23%
 Western Europe             12,793      16,878         -24%
 Eastern Europe              1,601       1,724          -7%
North America                5,433       5,914          -8%
South America                1,775       2,060         -14%
Asia                         2,843       1,853          53%
Other markets                1,212         841          44%
Total Volvo Trucks          25,657      29,270         -12%






June 24, 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

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