AB Volvo trucks deliveries for february 2002

AB VOLVO TRUCKS DELIVERIES FOR FEBRUARY 2002 Deliveries from Volvo's truck operations, which comprises Volvo Trucks, Mack Trucks, and Renault Trucks, amounted to 20,530 trucks year to date compared with 26,017 trucks last year, a decrease of 21%. In Europe deliveries decreased by 21% to 13,297 while 3,983 trucks were delivered in North America, down by 40%. Asia is still showing good momentum with an increase of 80% compared to last year's period. On a 12-month rolling basis, order intake was 8% below the same period last year, whereof North America was -35% and Europe at the same level (0%). "During the first two months this year, we have seen deliveries in Europe come down slightly in Renault Trucks. For Volvo Trucks, the deliveries were down significantly in Europe due to the production ramp- up of the new truck range. However, order intake was higher than last year. In North America, deliveries continue to be weak," says Volvo's CEO, Leif Johansson. Deliveries by market area: Units Invoiced Year-to-Date Change Volvo Group 2002 2001 Europe 13,297 16,928 -21% Western Europe 12,429 15,864 -22% Eastern Europe 868 1,064 -18% North America 3,983 6,658 -40% South America 602 697 -14% Asia 1,204 669 80% Other markets 1,444 1,065 36% Total Volvo Group 20,530 26,017 -21% Mack Trucks At Mack Trucks, deliveries through February totaled 2,625 vehicles, down 37% from 4,152 a year ago. Heavy-duty trucks totaled 2,461 units, and medium-duty trucks totaled 164 units (nearly flat with the 163 units a year ago). Deliveries through February were affected by continued weakness in the North American truck market, and the fact that the 2002 January-February period featured six non-production weeks at Mack Trucks two assembly facilities in the USA, compared with three-and-a-half down weeks in the same months a year ago. Deliveries by market area: Units Invoiced Year-to-Date Change Mack Trucks 2002 2001 North America 2,375 3,960 -40% South America 98 88 11% Asia 2 n.a. Other markets 150 104 44% Total Mack Trucks 2,625 4,152 -37% Renault Trucks Deliveries from Renault Trucks through February 2002 amounted to 9,853 trucks of which 6,846 were medium and heavy-duty vehicles. Compared to the same period last year, deliveries were down 5 % due to the slowdown in the European market. Deliveries of the Master and Kerax ranges were up through February compared with the same period last year. The Midlum and Magnum ranges remained flat, while deliveries for the Premium range decreased. Deliveries by market area: Units Invoiced Year-to-Date Change Renault Trucks 2002 2001 Europe 9,002 9,616 -6% Western Europe 8,540 9,144 -7% Eastern Europe 462 472 -2% Asia 42 92 -54% Other markets 809 716 13% Total Renault Trucks 9,853 10,424 -5% Volvo Trucks In Europe, the new range of Volvo trucks has been well received and order intake has been strong in the beginning of this year. Deliveries, however, were low as the industrial system continued to be adapted to the new product range. Deliveries in North America remained on a low level, reflecting continued weakness in the market. As a result, Volvo Trucks had two non- production weeks during the first two months of 2002 to adjust the capacity to meet demand. Development in Asia continues to be strong, where deliveries have doubled during January and February compared to last year. The launch of the new Volvo truck range in Asia will start at the end of March. Deliveries by market area: Units Invoiced Year-to-Date Change Volvo Trucks 2002 2001 Europe 4,295 7,312 -41% Western Europe 3,889 6,720 -42% Eastern Europe 406 592 -31% North America 1,608 2,698 -40% South America 504 609 -17% Asia 1,160 577 101% Other markets 485 245 98% Total Volvo Trucks 8,052 11,441 -30% March 22, 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 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/03/22/20020322BIT00360/wkr0001.doc http://www.waymaker.net/bitonline/2002/03/22/20020322BIT00360/wkr0002.pdf