Truck deliveries - May 2003

TRUCK DELIVERIES - MAY 2003 Deliveries from Volvo's truck operations, which include Volvo Trucks, Mack Trucks, Inc. and Renault Trucks, declined 11% in May, compared with the corresponding month last year. On a year-to-date basis, deliveries amounted to 61,772 trucks, which is in line with the year-earlier period. In Europe, deliveries increased 1%, while North America posted a 12% decline compared with the first five months in 2002. "Our truck deliveries continued to decline in Europe, in line with our expectation of a market comprising about 200,000 trucks for this year. In North America, deliveries were somewhat lower than last year, but the positive trend that we have seen in the most recent months continued through May," says Volvo's CEO Leif Johansson. On a rolling 12-month basis, total order bookings for the truck brands declined 10% compared with the preceding year, with Europe down 13% and North America down 16%. Deliveries by market area: Delivered Units Year-to-Date Change Volvo Group 2003 2002 Europe 39,438 38,989 1% Western Europe 35,813 36,044 -1% Eastern Europe 3,625 2,945 23% North America 12,513 14,183 -12% South America 2,054 2,078 -1% Asia 4,778 2,972 61% Other markets 2,989 3,842 -22% Total Volvo Group 61,772 62,064 0% Mack Trucks, Inc. Deliveries for Mack through May were 22 percent below the year-earlier period. However, there is increasing activity in quoting of new trucks among customers in Mack's core market segments. Deliveries by market area: Year-to-Date Change Delivered Units Mack Trucks, Inc. 2003 2002 North America 6,665 8,750 -24% South America 162 303 -47% Asia 27 4 575% Other markets 457 356 28% Total Mack Trucks, Inc. 7,311 9,413 -22% Renault Trucks At the end of May the volume of Renault Trucks' sales was down 7% compared with the corresponding period in 2002. Eastern Europe countries pushed the sales upward, with an increase of 29%. Some countries showed noticeable gains, such as the UK (+17%) and Spain (+10%), while France declined by 14%. Deliveries by market area: Year-to-Date Change Delivered Units Renault Trucks 2003 2002 Europe 23,268 24,595 -5% Western Europe 21,529 23,251 -7% Eastern Europe 1,739 1,344 29% North America 112 n.a. South America 30 n.a. Asia 544 125 n.a. Other markets 1,249 2,274 n.a. Total Renault Trucks 25,203 26,994 -7% Volvo Trucks Volvo Trucks increased its deliveries in largely all markets during the January-May period. The increase compared with the preceding year was 14%. The new product program - Volvo FH and Volvo FM in Europe and Asia as well as the Volvo VN in North America - was well received on the market. The effect of these launches is increased deliveries and improved market shares. Particularly in the important Nordic home markets, Volvo Trucks has strengthened its grip on market shares. The company's newest addition - the flagship Volvo FH16 - was recently presented to the trade and daily press. With this new truck, the company expects to increase its share of the prestige segment and in utility traffic with high gross weights and longer rigs. Deliveries by market area: Year-to-Date Change Delivered Units Volvo Trucks 2003 2002 Europe 16,170 14,394 12% Western Europe 14,284 12,793 12% Eastern Europe 1,886 1,601 18% North America 5,736 5,433 6% South America 1,862 1,775 5% Asia 4,207 2,843 48% Other markets 1,283 1,212 6% Total Volvo Trucks 29,258 25,657 14% June 18, 2003 For further information, please contact: Investor Relations: Fredrik Brunell +46 31 66 11 91 Christer Johansson +46 31 66 13 34 Media Relations: 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, +46 708-36 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/2003/06/18/20030618BIT00650/wkr0001.doc http://www.waymaker.net/bitonline/2003/06/18/20030618BIT00650/wkr0002.pdf