TRUCK DELIVERIES - AUGUST 2003

Deliveries of trucks from the Volvo Group to date this year have
declined 6%, compared with the year-earlier period. Mack Trucks was down
26% and Renault Trucks declined by 9%. However, Volvo Trucks posted an
increase of 6%.

"In Europe, deliveries during August were somewhat lower compared with
last year, while North America was significantly lower. In North
America, however, we had a high delivery rate last year to meet customer
demand for trucks ahead of the implementation of new emission standards.
Based on the market activity we have seen lately, we believe there is an
upside to our latest market outlook, in North America as well as
Europe", says Volvo's CEO Leif Johansson.
On a 12-month rolling basis, total order bookings for the truck brands
was down 7% compared with the preceding year, with Europe 13% lower and
North America down 8%.

Deliveries by market area:

Delivered Units                             Year-to-Date        Change
Volvo Group                                   2003        2002 
Europe                                      56 894      58 933      -3%
    Western Europe                          51 281      53 949      -5%
    Eastern Europe                           5 613       4 984      13%
North America                               20 823      24 973     -17%
South America                                3 403       3 438      -1%
Asia                                         7 773       5 330      46%
Other markets                                4 735       6 421     -26%
Total Volvo Group                           93 628      99 095      -6%

Mack Trucks, Inc.
Deliveries from Mack Trucks, Inc. through August fell 26% compared with
the corresponding period in 2002, reflecting sluggish US economic
conditions through the first half of 2003. During September, production
of Mack's vocational trucks was stopped for two weeks to adjust
production to demand. However, order bookings for Mack were strong for
the month of August, and dealers report increased quoting activity among
potential customers.

Deliveries by market area:

Delivered Units                           Year-to-Date        Change
Mack Trucks, Inc.                          2003        2002 
Europe                                        1                   n.a.
    Western Europe                            1                   n.a.
    Eastern Europe                                                n.a.
North America                            10 978      15 227       -28%
South America                               262         431       -39%
Asia                                         51          10       410%
Other markets                               770         636        21%
Total Mack Trucks, Inc.                  12 062      16 304       -26%

Renault Trucks
Deliveries from Renault Trucks through August fell 9 % compared with the
year-earlier period. This is attributable primarily to the weak French
market, where deliveries are down 16%. There are, however, some markets
that have strengthened to date this year, such as Spain (+6%), Germany
(+6%) and the UK (+14%).

The Renault Master, Renault Midlum and Renault Magnum ranges are
approaching the high sales levels reported last year.

Deliveries by market area:

Delivered Units                           Year-to-Date        Change
Renault Trucks                             2003        2002 
Europe                                   33 464      36 622        -9%
    Western Europe                       30 858      34 420       -10%
    Eastern Europe                        2 606       2 202        18%
North America                               213                    n.a.
South America                                83                    n.a.
Asia                                      1 415         197        n.a.
Other markets                             1 914       3 949        n.a.
Total Renault Trucks                     37 089      40 768        -9%


Volvo Trucks
Volvo Trucks increased its deliveries during the January-August period
by 6% compared with a year earlier.

The company has increased deliveries in all markets except North
America. This is explained by the exceptionally high deliveries in the
US during the corresponding period in 2002. At that time, many customers
chose to make purchases earlier prior to the more stringent emissions
standards that became effective on October 1, 2002.
The new Volvo VN range has been very well received on the market.

Demand in certain markets in Europe remains high and deliveries in Spain
(+29%) and in Sweden (+26%) are rising sharply.


Deliveries by market area:

Delivered Units                           Year-to-Date        Change
Volvo Trucks                               2003        2002 
Europe                                   23 429      22 311         5%
    Western Europe                       20 422      19 529         5%
    Eastern Europe                        3 007       2 782         8%
North America                             9 632       9 746        -1%
South America                             3 058       3 007         2%
Asia                                      6 307       5 123        23%
Other markets                             2 051       1 836        12%
Total Volvo Trucks                       44 477      42 023         6%

September 19, 2003

For further information, please contact:

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 08

Investor Relations:
Fredrik Brunell, AB Volvo, +46 31 66 11 91