TRUCK DELIVERIES - MAY 2003

Deliveries from Volvo's truck operations, which include Volvo Trucks,
Mack Trucks, Inc. and Renault Trucks, declined 11% in May, compared with
the corresponding month last year. On a year-to-date basis, deliveries
amounted to 61,772 trucks, which is in line with the year-earlier
period. In Europe, deliveries increased 1%, while North America posted a
12% decline compared with the first five months in 2002.

"Our truck deliveries continued to decline in Europe, in line with our
expectation of a market comprising about 200,000 trucks for this year.
In North America, deliveries were somewhat lower than last year, but the
positive trend that we have seen in the most recent months continued
through May," says Volvo's CEO Leif Johansson.
On a rolling 12-month basis, total order bookings for the truck brands
declined 10% compared with the preceding year, with Europe down 13% and
North America down 16%.


Deliveries by market area:
 Delivered Units                 Year-to-Date          Change
Volvo Group                          2003      2002 
Europe                             39,438    38,989          1%
 Western Europe                    35,813    36,044         -1%
 Eastern Europe                     3,625     2,945         23%
North America                      12,513    14,183        -12%
South America                       2,054     2,078         -1%
Asia                                4,778     2,972         61%
Other markets                       2,989     3,842        -22%
Total Volvo Group                  61,772    62,064          0%



Mack Trucks, Inc.
Deliveries for Mack through May were 22 percent below the year-earlier
period. However, there is increasing activity in quoting of new trucks
among customers in Mack's core market segments.


Deliveries by market area:
                                Year-to-Date         Change
Delivered Units
Mack Trucks, Inc.                2003        2002 
North America                   6,665       8,750         -24%
South America                     162         303         -47%
Asia                               27           4         575%
Other markets                     457         356          28%
Total Mack Trucks, Inc.         7,311       9,413         -22%



Renault Trucks
At the end of May the volume of Renault Trucks' sales was down 7%
compared with the corresponding period in 2002. Eastern Europe countries
pushed the sales upward, with an increase of 29%. Some countries showed
noticeable gains, such as the UK (+17%) and Spain (+10%), while France
declined by 14%.


Deliveries by market area:
                               Year-to-Date          Change
Delivered Units
Renault Trucks                 2003         2002 
Europe                       23,268       24,595            -5%
 Western Europe              21,529       23,251            -7%
 Eastern Europe               1,739        1,344            29%
North America                   112                         n.a.
South America                    30                         n.a.
Asia                            544          125           n.a.
Other markets                 1,249        2,274           n.a.
Total Renault Trucks         25,203       26,994            -7%



Volvo Trucks
Volvo Trucks increased its deliveries in largely all markets during the
January-May period. The increase compared with the preceding year was
14%.

The new product program - Volvo FH and Volvo FM in Europe and Asia as
well as the Volvo VN in North America - was well received on the market.
The effect of these launches is increased deliveries and improved market
shares. Particularly in the important Nordic home markets, Volvo Trucks
has strengthened its grip on market shares.

The company's newest addition - the flagship Volvo FH16 - was recently
presented to the trade and daily press. With this new truck, the company
expects to increase its share of the prestige segment and in utility
traffic with high gross weights and longer rigs.


Deliveries by market area:
                               Year-to-Date          Change
Delivered Units
Volvo Trucks                    2003        2002 
Europe                        16,170      14,394           12%
 Western Europe               14,284      12,793           12%
 Eastern Europe                1,886       1,601           18%
North America                  5,736       5,433            6%
South America                  1,862       1,775            5%
Asia                           4,207       2,843           48%
Other markets                  1,283       1,212            6%
Total Volvo Trucks            29,258      25,657           14%


June 18, 2003



For further information, please contact:

Investor Relations:
Fredrik Brunell +46 31 66 11 91
Christer Johansson +46 31 66 13 34


Media Relations:
Bernard Lancelot, Renault Trucks, +33 4 72 96 27 59
Bob Martin, Mack Trucks, Inc. +1 (610) 709-2670
Claes Claeson, Volvo Truck Corporation, +46 31 66 39 08, +46 708-36 39
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