Truck deliveries - May 2002

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 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/06/24/20020624BIT00680/wkr0001.doc http://www.waymaker.net/bitonline/2002/06/24/20020624BIT00680/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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