Volvo Cars Reports January 2008 Sales Increase of 2.8 Percent

IRVINE, Calif., Feb. 1, 2008 -- Volvo Cars of North America, LLC. (VCNA) reports U. S. sales increased 2.8 percent* compared to January of last year. For the period, 8,036 units were sold.

The Volvo XC70 has resonated well with the media as well as consumers. The sales for Volvo's crossover continue to be strong.

Overall in North America, Volvo sales were down in Canada (-12.1 percent) and Mexico (-23.9 percent), with 501 and 181 units sold, respectively.

Volvo Cars of North America, LLC (VCNA), based in Irvine, Calif., is a subsidiary of Volvo Car Corporation of Goteborg, Sweden. VCNA 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 CARS OF NORTH AMERICA, LLC

      Retail Sales by Model                                    1-Feb-08
                              UNITED STATES
                                                         Year-to-
                                  January                  Date
           Volvo Model       2008   2007*    %      2008   2007*    %

               S40          1,519   1,377   10.3%  1,519   1,377   10.3%
               V50            163     195  -16.4%    163     195  -16.4%
               S60          1,713   1,235   38.7%  1,713   1,235   38.7%
               S80            865   1,131  -23.5%    865   1,131  -23.5%
               V70            167     257  -35.0%    167     257  -35.0%
              XC70            965     855   12.9%    965     855   12.9%
              XC90          1,918   2,382  -19.5%  1,918   2,382  -19.5%
               C70            375     387   -3.1%    375     387   -3.1%
               C30            351     n/a    n/a     351     n/a    n/a

      USA TOTAL             8,036   7,819    2.8%  8,036   7,819    2.8%

                                  CANADA
                                                          Year-to-
                                  January                   Date
          Volvo Model       2008    2007     %      2008    2007    %

              S40             51      55    -7.3%     51     55   -7.3%
              V50             22      42   -47.6%     22     42  -47.6%
              S60             25     118   -78.8%     25    118  -78.8%
              S80             21      38   -44.7%     21     38  -44.7%
              V70             19      42   -54.8%     19     42  -54.8%
              XC70           147     104    41.3%    147    104   41.3%
              XC90           101     165   -38.8%    101    165  -38.8%
              C70              7       6    16.7%      7      6   16.7%
              C30            108     n/a     n/a     108    n/a    n/a

      CANADA TOTAL           501     570   -12.1%    501    570  -12.1%

                                  MEXICO
                                                     Year-to-
                              January                 Date
        Volvo Model     2008    2007     %      2008  2007       %

            S40           92     116   -20.7%     92   116     -20.7%
            V50            0       3  -100.0%      0     3    -100.0%
            S60            4      33   -87.9%      4    33     -87.9%
            S80           14       9    55.6%     14     9      55.6%
            V70            0       0    n/a        0     0      n/a
           XC70            0       1  -100.0%      0     1    -100.0%
           XC90           37      74   -50.0%     37    74     -50.0%
            C70            4       2   100.0%      4     2     100.0%
            C30           30     n/a     n/a      30   n/a       n/a

     MEXICO TOTAL        181     238   -23.9%    181   238     -23.9%

     NAFTA TOTAL       8,718   8,627     1.1%  8,718 8,627       1.1%

     *  2007 U.S. totals include Puerto Rico (2008 does not)