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Volvo Cars Reports November 2004 Sales for North America

Sales Increase for Fifth Consecutive Month - Up 2.3 Percent in the U.S.

IRVINE, Calif., Dec. 1 -- Volvo Cars of North America, LLC (VCNA) reports sales increased 2.3 percent in the best selling November on record in the United States. For the month, 10,889 units were sold, en route to the fifth such month over month increase in a row.

"The Volvo sales performance is particularly notable with such extremely competitive market conditions," said Vic Doolan, VCNA president and CEO. "Volvo continues to shine with the introduction of new models like the new S40 and all-new V50, indicating further that safety is striking a chord with consumers."

Sales of the new S40 sedan remain strong, while fortifying its best year ever in the segment. The segment has improved 76 percent compared to the same period last year. The XC90 continued to be the Volvo sales leader during November, reinforcing its preeminence as the best-selling European SUV, in the U.S.

Year-to-date, Volvo sales in North America are 3.2 percent ahead of last year's record pace. Sales of 12,030 are 2.8 up for the month. In Canada, 820 units were sold, representing a slight increase of 0.2 percent. Sales growth continues strong in Mexico, where sale were up 31 percent.

VCNA, part of the Volvo Car Corporation of Gothenburg, Sweden, provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States, and oversees Volvo operations in Canada, Mexico and Puerto Rico.

Volvo has been building cars with Safety in mind for over 75 years. The 2005 Volvo Cars model line-up includes: the award-winning new S40 and its wagon counterpart the all-new V50; the award-winning XC90; the sporty S60 sedan -- including the award-winning performance sedan -- S60 R and the performance wagon version -- V70 R; the flagship S80 luxury sedan; versatile V70 wagon and rugged XC70 (Cross Country); and, the C70 convertible.

   Volvo Media Website: www.volvocars-pr.com

  VOLVO CARS OF NORTH AMERICA, LLC
  Retail Sales by Model                                         01-Dec-04

                                UNITED STATES
                          November*                   Year-to-Date*
                    2004    2003       %        2004      2003         %
  Volvo Model
  S40                  0      964   -100.0%     4,618    12,336     -62.6%
  All New S40      2,459      n/a      n/a     17,114       n/a       n/a
  V40                 15      191    -92.1%     1,501     2,759     -45.6%
  V50                506      n/a      n/a      1,928       n/a       n/a
  S60              1,678    2,471    -32.1%    26,102    32,809     -20.4%
  V70                794    1,057    -24.9%     9,931    10,806      -8.1%
  XC70               933    1,288    -27.6%    15,000    15,749      -4.8%
  C70                239      210     13.8%     3,780     3,979      -5.0%
  S80              1,160    1,146      1.2%    12,721    13,296      -4.3%
  XC90             3,105    3,312     -6.3%    34,165    31,491       8.5%

  USA TOTAL       10,889   10,639      2.3%   126,860   123,225       2.9%

                                    CANADA
                           November                   Year-to-Date
                    2004     2003      %        2004      2003         %
  Volvo Model
  S40                  0      104   -100.0%       279     1,129     -75.3%
  All New S40        237      n/a      n/a      1,133       n/a       n/a
  V40                  0       55   -100.0%       163       705     -76.9%
  V50                 89      n/a      n/a        401       n/a       n/a
  S60                159      193    -17.6%     2,743     2,812      -2.5%
  V70                 37       69    -46.4%     1,033     1,010       2.3%
  XC70                76      155    -51.0%     1,779     1,870      -4.9%
  C70                  2        1    100.0%        99        58      70.7%
  S80                 49       35     40.0%       490       428      14.5%
  XC90               171      206    -17.0%     2,260     2,100       7.6%

  CANADA TOTAL       820      818      0.2%    10,380    10,112       2.7%

                                    MEXICO
                           November                   Year-to-Date
                     2004    2003      %       2004      2003         %
  Volvo Model
  S40                  6       62    -90.3%       226     1,010     -77.6%
  All New S40        144      n/a      n/a      1,142       n/a       n/a
  V40                  0        0   -100.0%         9        16     -43.8%
  V50                  2      n/a      n/a          2       n/a       n/a
  S60                 51       72    -29.2%       568       700     -18.9%
  V70                  0        0      n/a          0         4    -100.0%
  XC70                 0        1      n/a         10        18     -44.4%
  C70                  0        1   -100.0%        11        16     -31.3%
  S80                  7       20    -65.0%       110       165     -33.3%
  XC90               111       89     24.7%       910       663      37.3%

  MEXICO TOTAL       321      245     31.0%     2,988     2,592      15.3%

  NAFTA TOTAL     12,030   11,702      2.8%   140,228   135,929       3.2%

   *U.S. totals include Puerto Rico