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 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/08/26/20020826BIT00680/wkr0001.doc http://www.waymaker.net/bitonline/2002/08/26/20020826BIT00680/wkr0002.pdf

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The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. The headquarter is located in Gothenburg, Sweden.

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