Press releases 2003

The car ferry Venus, which recently entered traffic, is the Swedish Road Administration’s most modern ferry and the first in a series with a distinct environmental profile.

“Despite low demand in key markets, the Volvo Group doubled operating income in the third quarter, compared with the corresponding period in 2002. Our strong product programs, increased efficiency and positive synergy effects are the main reasons for the improved profitability. The new product lines from Volvo Trucks, Volvo CE and Volvo Penta continued to strengthen our positions and contributed to maintaining sales in several important markets”, says Leif Johansson, CEO.

Volvo would like to remind you about the press conference in conjunction with the release of the Volvo Group’s third-quarter interim report at 10:00 a.m., on Thursday, October 23, 2003, at Volvo’s head office in Göteborg.

In May, Volvo Aero announced a preliminary layoff of 250 employees in Trollhättan, Sweden.

Volvo Buses has won an order from the Australian state of New South Wales for 60 bus chassis.

An agreement has been reached between Volvo Bus Corporation and Renault Trucks covering the sale of Volvo buses by Renault Trucks in France.

Volvo today announced that Paul L Vikner, who has served since July 2001 as President and CEO of Mack Trucks, Inc., will become a member of Volvo’s Group Executive Committee (GEC) effective January 1, 2004.

Every year, almost 4,000 people die in frontal collisions between cars and trucks on Europe’s roads.

Volvo Trucks has signed an agreement with Turkish Ekol covering delivery of 150 FH12 4x2 trucks. Deliveries begin in mid-October 2003.

Vehicle diagnostics and traffic information systems are being integrated to provide additional functions, better quality and increased reliability. This is the result of Volvo Mobility Systems being incorporated within Volvo Buses as of October 1.