Truck deliveries - October 2003

Truck deliveries - October 2003 Deliveries of trucks from the Volvo Group to date this year declined 4%, compared with the year-earlier period. Mack Trucks was down 26% and Renault Trucks declined by 8%. However, Volvo Trucks posted an increase of 8%. On a 12-month rolling basis, total order bookings for the truck brands was unchanged compared with the preceding year, with Europe 3% lower and North America down 4%. "The European heavy truck market continues to be stable at a favorable level," Leif Johansson, CEO and President of the Volvo Group said. "In North America, however, we still have low demand without any clear signs of a significant improvement." Deliveries by market area: Delivered Units Year-to-Date Change Volvo Group 2003 2002 Europe 74 147 78 068 -5% Western Europe 66 629 71 108 -6% Eastern Europe 7 518 6 960 8% North America 28 503 32 997 -14% South America 4 711 4 446 6% Asia 11 852 7 193 65% Other markets 5 781 7 935 -27% Total Volvo Group 124 994 130 639 -4% Mack Trucks, Inc. Deliveries for Mack Trucks, Inc., through October totaled 15,551 units - down 26% from the year-earlier period. Dealers are reporting that some customers who had purchased trucks with non-EPA '02 compliant engines in 2003 were moving back to Mack's EPA '02 compliant products for their 2004 purchase programs. Deliveries by market area: Delivered Units Year-to-Date Change Mack Trucks, Inc. 2003 2002 Europe 1 1 Western Europe 1 1 North America 14 150 19 721 -28% South America 322 533 -40% Asia 72 27 167% Other markets 1 006 784 28% Total Mack Trucks, Inc. 15 551 21 066 -26% Renault Trucks Deliveries for Renault Trucks from January through October totaled 48,367, down 8% compared with the corresponding period in the preceding year. Sales in Spain rose by 4%, Austria increased 22% and Germany was up 6%. Eastern European sales increased by 13%, with 3,379 units. In Poland, a total of 1,157 vehicles have been sold since beginning of 2003, an increase of 21%. In the medium-heavy segment, sales of the Renault Midlum were highly satisfactory at exactly the same level as in 2002, illustrating the sustained interest from customers for this vehicle. The deliveries of Renault Master and Renault Magnum, both ends of the broad Renault Trucks offering, are also holding up well. Deliveries by market area: Delivered Units Year-to-Date Change Renault Trucks 2003 2002 Europe 43 226 47 536 -9% Western Europe 39 847 44 554 -11% Eastern Europe 3 379 2 982 13% North America 297 n.a. South America 142 n.a. Asia 2 361 319 640% Other markets 2 341 5 000 -53% Total Renault Trucks 48 367 52 855 -8% Volvo Trucks Volvo Trucks increased its deliveries during the period January to October by 8%. All regions posted higher figures compared with the year- earlier period. In October, the Volvo NH, a front-engine truck developed for the South American market, was launched in Brazil. This is the ninth introduction from Volvo Trucks in slightly more than three years and this launch marks the completion of the global product renewal. Deliveries in Asia have risen steadily during the year, due primarily to very strong demand for the Volvo FH and Volvo FM in Iran. Today, Iran is the third largest single market for Volvo Trucks after the US and the UK. Delivered Units Year-to-Date Change Volvo Trucks 2003 2002 Europe 30 920 30 531 1% Western Europe 26 781 26 553 1% Eastern Europe 4 139 3 978 4% North America 14 056 13 276 6% South America 4 247 3 913 9% Asia 9 419 6 847 38% Other markets 2 434 2 151 13% Total Volvo Trucks 61 076 56 718 8% November 20, 2003 For further information, contact: 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 Investor Relations: Fredrik Brunell, AB Volvo, +46 31 66 11 91 Volvo Trucks sells trucks and transport solutions, specialized in heavy trucks with total weights above 16 tons. The company's products are marketed in more than 130 countries. Volvo Trucks is part of the Volvo Group, one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. The Group also provides complete solutions for financing and service. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/11/20/20031120BIT20230/wkr0005.pdf