Press releases 2002

First Step in Cooperation on Construction Equipment Components

Following a successful product launch in Europe, Volvo Trucks is unveiling its new truck range in Asia on Maundy Thursday.

Deliveries from Volvo's truck operations, which comprises Volvo Trucks, Mack Trucks, and Renault Trucks, amounted to 20,530 trucks year to date compared with 26,017 trucks last year, a decrease of 21%. In Europe deliveries decreased by 21% to 13,297 while 3,983 trucks were delivered in North America, down by 40%. Asia is still showing good momentum with an increase of 80% compared to last year's period.

Volvo Trucks is introducing a new engine that meets ECO 4, i.e. four points in Austria's ECO-point system.

Volvo Construction Equipment (Volvo CE) has acquired the compaction equipment assets from SuperPac Inc. Included are the exclusive manufacturing and product design rights to a range of 7 different soil compactors.

As announced previously, AB Volvo applied for delisting from the Tokyo Stock Exchange. The application has now been approved by the exchange in Tokyo and the Volvo share will be delisted as of May 21 this year.

On March 22, AB Volvo will publish its Annual Report for 2001 as planned, but it is already available from today on Volvo's website, www.volvo.com.

Deliveries from Volvo's truck operations, which comprises Volvo Truck Corporation, Mack Trucks, Inc. and Renault Trucks, for the month of January 2002 amounted to 9,814 trucks compared to 12,435 trucks last year, a decrease by 21%. In Europe, deliveries decreased by 19% to 6,633 while 1,693 trucks were delivered in North America, a decrease of 45%. Asia is showing good momentum with an increase of 81% compared to the same month last year.

Volvo Aero has signed an agreement with the Russian airline company Aeroflot, whereby Volvo Aero will overhaul Aeroflot's JT9D-59A engines, powering its DC 10-40 aircraft. The initial value of the contract is 60 MUSD, making it the largest overhaul contract signed by Volvo Aero since 1998. There is also a potential for a total order value of 120 MUSD if Aeroflot decides to add more DC 10-40's to its fleet.

Volvo Buses Germany has received an order for 37 city buses from Berlin's local bus operator, Berliner Verkehrsgesellschaft (BVG).