Volvo Truck Deliveries Surge a Combined 24 Percent

VOLVO GROUP PRESS RELEASE
Total deliveries of commercial trucks from the Volvo Group's three truck companies, Volvo, Mack and Renault, increased 24% through November 2004, as compared with the year-earlier period. Deliveries from Mack Truck escalated 33%, while deliveries from Renault Trucks rose 16%. Volvo Trucks deliveries increased 28% during the period.

"The very high pace of deliveries continues in all markets. Our market projections remain valid, but in November we did note a lower order intake in Europe," said Volvo Chief Executive Officer Leif Johansson.

During the past 12 months, order bookings for the Volvo Group's truck operations were 37% higher compared with the preceding year. Orders were up 9% in Europe, while the increase in North America surged 105%.

The Volvo Group is one of the leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services in the world. The Group also offers complete solutions for service and financing. The Volvo Group, which has about 78,000 employees, owns facilities in 25 countries and sells their products in more than 185 markets. Annual sales of the Volvo Group amount to 18 billion euro. The Volvo Group is a publicly-held entity and headquartered in Goteborg, Sweden. Volvo shares are listed on the stock exchanges in London, Stockholm and the U.S. NASDAQ.