Truck deliveries in May 2014

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| Source: Volvo, AB
Deliveries from the Volvo Group’s truck operations in May 2014 amounted to
17,410 vehicles. This was an increase of 4% compared with the year-earlier
month.
Volvo Group

Deliveries from the Volvo Group’s truck operations in May 2014 amounted to
17,410 vehicles. This was an increase of 4% compared with the year-earlier
month. May experienced an unfavorable product and market mix. Deliveries of
heavy duty trucks were on the same level as last year while deliveries of light
duty trucks sourced from external suppliers were up by 36%. On a regional basis
May deliveries declined by 19% in South America and by 4% in Europe while
deliveries rose by 26% in Asia and by 13% in North America.

Total deliveries by market for all brands (Volvo, Mack, Renault Trucks, UD
Trucks and Eicher):

+-------------+------+------+---------------------------+------+------+------+
|Delivered    |May          |Change                     |Year-to date |Change|
|Units        |             |                           |             |      |
+-------------+------+------+---------------------------+------+------+------+
|Volvo Group  |2014  |2013  |                           |2014  |2013  |      |
+-------------+------+------+---------------------------+------+------+------+
|Europe       |6 017 |6 277 |-4%                        |28 419|27 827|2%    |
+-------------+------+------+---------------------------+------+------+------+
|   Western   |4 906 |4 952 |-1%                        |22 121|21 888|1%    |
|Europe       |      |      |                           |      |      |      |
+-------------+------+------+---------------------------+------+------+------+
|   Eastern   |1 111 |1 325 |-16%                       |6 298 |5 939 |6%    |
|Europe       |      |      |                           |      |      |      |
+-------------+------+------+---------------------------+------+------+------+
|North America|4 777 |4 228 |13%                        |22 591|16 172|40%   |
+-------------+------+------+---------------------------+------+------+------+
|South America|2 061 |2 540 |-19%                       |10 278|11 092|-7%   |
+-------------+------+------+---------------------------+------+------+------+
|Asia         |3 002 |2 383 |26%                        |13 638|10 514|30%   |
+-------------+------+------+---------------------------+------+------+------+
|Other markets|1 553 |1 304 |19%                        |6 683 |6 115 |9%    |
+-------------+------+------+---------------------------+------+------+------+
|Total Volvo  |17 410|16 732|4%                         |81 609|71 720|14%   |
|Group        |      |      |                           |      |      |      |
+-------------+------+------+---------------------------+------+------+------+
|             |      |      |                           |      |      |      |
+-------------+------+------+---------------------------+------+------+------+
|Light duty (<|1 537 |1 130 |36%                        |5 298 |5 146 |3%    |
|7t)          |      |      |                           |      |      |      |
+-------------+------+------+---------------------------+------+------+------+
|Medium duty  |1 447 |1 284 |13%                        |6 170 |6 184 |0%    |
|(7-16t)      |      |      |                           |      |      |      |
+-------------+------+------+---------------------------+------+------+------+
|Heavy duty   |14 426|14 318|1%                         |70 141|60 390|16%   |
|(>16t)       |      |      |                           |      |      |      |
+-------------+------+------+---------------------------+------+------+------+
|Total Volvo  |17 410|16 732|4%                         |81 609|71 720|14%   |
|Group        |      |      |                           |      |      |      |
+-------------+------+------+---------------------------+------+------+------+
|             |      |      |                           |      |      |      |
+-------------+------+------+---------------------------+------+------+------+
|Non          |      |      |                           |      |      |      |
|-consolidated|      |      |                           |      |      |      |
|operations   |      |      |                           |      |      |      |
+-------------+------+------+---------------------------+------+------+------+
|Eicher (100%)|2 430 |2 419 |0%                         |12 445|15 255|-18%  |
+-------------+------+------+---------------------------+------+------+------+
|DVT (100%)   |5     |57    |-91%                       |22    |134   |-84%  |
+-------------+------+------+---------------------------+------+------+------+
|Total Volumes|19 845|19 208|3%                         |94 076|87 109|8%    |
+-------------+------+------+---------------------------+------+------+------+

Volvo

In May 9,981 Volvo trucks were delivered, an increase of 3% compared with the
same month last year.

In Europe 3,474 vehicles were delivered during May, down by 2% compared with May
2013. Deliveries in Eastern Europe were down by 22% mainly due to lower demand
in Russia. To adapt to the lower demand, the plant in Kaluga, Russia will
implement a number of non-production weeks in the coming months.

Demand in North America continued to be good and deliveries increased by 12% to
2,706 vehicles in comparison with the same period last year. Production will
moderately increase at the end of the second quarter to meet increased demand.

Deliveries in South America decreased to 1,904 trucks in May, a decrease of 13%
compared with May 2013. The decrease is a consequence of lower demand as well as
inventory reduction in the dealer channel. Production in Brazil has been reduced
during the second quarter and several non-production days are scheduled for June
and July.

Deliveries by market area:

+-------------------+-----+-----+------+------+------+------+
|Delivered Units    |May        |Change|Year-to-date |Change|
+-------------------+-----+-----+------+------+------+------+
|Volvo              |2014 |2013 |      |2014  |2013  |      |
+-------------------+-----+-----+------+------+------+------+
|Europe             |3 474|3 556|-2%   |17 440|14 937|17%   |
+-------------------+-----+-----+------+------+------+------+
|   Western Europe  |2 578|2 410|7%    |12 243|9 919 |23%   |
+-------------------+-----+-----+------+------+------+------+
|   Eastern Europe  |896  |1 146|-22%  |5 197 |5 018 |4%    |
+-------------------+-----+-----+------+------+------+------+
|North America      |2 706|2 416|12%   |13 151|8 739 |50%   |
+-------------------+-----+-----+------+------+------+------+
|South America      |1 904|2 178|-13%  |9 597 |9 754 |-2%   |
+-------------------+-----+-----+------+------+------+------+
|Asia               |1 319|1 078|22%   |5 199 |4 779 |9%    |
+-------------------+-----+-----+------+------+------+------+
|Other markets      |578  |461  |25%   |2 700 |2 103 |28%   |
+-------------------+-----+-----+------+------+------+------+
|Total Volvo        |9 981|9 689|3%    |48 087|40 312|19%   |
+-------------------+-----+-----+------+------+------+------+
|                   |     |     |      |      |      |      |
+-------------------+-----+-----+------+------+------+------+
|Medium duty (7-16t)|244  |129  |89%   |915   |590   |55%   |
+-------------------+-----+-----+------+------+------+------+
|Heavy duty (>16t)  |9 737|9 560|2%    |47 172|39 722|19%   |
+-------------------+-----+-----+------+------+------+------+
|Total Volvo        |9 981|9 689|3%    |48 087|40 312|19%   |
+-------------------+-----+-----+------+------+------+------+

 Mack

Deliveries for Mack in May totaled 2,203 vehicles, a 3% increase compared with
May 2013. Production will be moderately increased at the end of the second
quarter to meet increased demand.

Deliveries by market area:

+-----------------+-----+-----+------+------+-----+------+
|Delivered Units  |May        |Change|Year-to-date|Change|
+-----------------+-----+-----+------+------+-----+------+
|Mack             |2014 |2013 |      |2014  |2013 |      |
+-----------------+-----+-----+------+------+-----+------+
|Europe           |     |     |      |      |1    |-100% |
+-----------------+-----+-----+------+------+-----+------+
|   Western Europe|     |     |      |      |1    |-100% |
+-----------------+-----+-----+------+------+-----+------+
|   Eastern Europe|     |     |      |      |     |      |
+-----------------+-----+-----+------+------+-----+------+
|North America    |2 051|1 778|15%   |9 377 |7 184|31%   |
+-----------------+-----+-----+------+------+-----+------+
|South America    |53   |259  |-80%  |271   |966  |-72%  |
+-----------------+-----+-----+------+------+-----+------+
|Asia             |     |1    |-100% |3     |7    |-57%  |
+-----------------+-----+-----+------+------+-----+------+
|Other markets    |99   |95   |4%    |379   |390  |-3%   |
+-----------------+-----+-----+------+------+-----+------+
|Total Mack       |2 203|2 133|3%    |10 030|8 548|17%   |
+-----------------+-----+-----+------+------+-----+------+
|                 |     |     |      |      |     |      |
+-----------------+-----+-----+------+------+-----+------+
|Heavy duty (>16t)|2 203|2 133|3%    |10 030|8 548|17%   |
+-----------------+-----+-----+------+------+-----+------+
|Total Mack       |2 203|2 133|3%    |10 030|8 548|17%   |
+-----------------+-----+-----+------+------+-----+------+

 Renault Trucks

In May 3,430 trucks were delivered by Renault Trucks. The deliveries of heavy
duty trucks declined by 12% to 1,652 trucks in May compared with the year
-earlier month while deliveries of light duty trucks increased to 1,395 trucks,
up by 35%.

Deliveries by market area:

+--------------------+-----+-----+------+------+------+------+
|Delivered Units     |May        |Change|Year-to-date |Change|
+--------------------+-----+-----+------+------+------+------+
|Renault Trucks      |2014 |2013 |      |2014  |2013  |      |
+--------------------+-----+-----+------+------+------+------+
|Europe              |2 543|2 721|-7%   |10 979|12 889|-15%  |
+--------------------+-----+-----+------+------+------+------+
|   Western Europe   |2 328|2 542|-8%   |9 878 |11 968|-17%  |
+--------------------+-----+-----+------+------+------+------+
|   Eastern Europe   |215  |179  |20%   |1 101 |921   |20%   |
+--------------------+-----+-----+------+------+------+------+
|North America       |15   |19   |-21%  |47    |50    |-6%   |
+--------------------+-----+-----+------+------+------+------+
|South America       |68   |93   |-27%  |247   |325   |-24%  |
+--------------------+-----+-----+------+------+------+------+
|Asia                |373  |209  |78%   |1 438 |842   |71%   |
+--------------------+-----+-----+------+------+------+------+
|Other markets       |431  |372  |16%   |1 752 |1 763 |-1%   |
+--------------------+-----+-----+------+------+------+------+
|Total Renault Trucks|3 430|3 414|0%    |14 463|15 869|-9%   |
+--------------------+-----+-----+------+------+------+------+
|                    |     |     |      |      |      |      |
+--------------------+-----+-----+------+------+------+------+
|Light duty (< 7t)   |1 395|1 032|35%   |4 756 |4 620 |3%    |
+--------------------+-----+-----+------+------+------+------+
|Medium duty (7-16t) |383  |512  |-25%  |1 556 |2 696 |-42%  |
+--------------------+-----+-----+------+------+------+------+
|Heavy duty (>16t)   |1 652|1 870|-12%  |8 151 |8 553 |-5%   |
+--------------------+-----+-----+------+------+------+------+
|Total Renault Trucks|3 430|3 414|0%    |14 463|15 869|-9%   |
+--------------------+-----+-----+------+------+------+------+

 UD Trucks

In May 2014, UD Trucks delivered 1,796 trucks, which was an increase by 20%
compared to May last year.

Deliveries by market area:

+-------------------+-----+-----+------+-----+------+------+
|Delivered Units    |May        |Change|Year-to-date|Change|
+-------------------+-----+-----+------+-----+------+------+
|UD Trucks          |2014 |2013 |      |2014 |2013  |      |
+-------------------+-----+-----+------+-----+------+------+
|North America      |5    |15   |-67%  |16   |199   |-92%  |
+-------------------+-----+-----+------+-----+------+------+
|South America      |36   |10   |260%  |163  |47    |247%  |
+-------------------+-----+-----+------+-----+------+------+
|Asia               |1 310|1 095|20%   |6 998|4 886 |43%   |
+-------------------+-----+-----+------+-----+------+------+
|Other markets      |445  |376  |18%   |1 852|1 859 |0%    |
+-------------------+-----+-----+------+-----+------+------+
|Total UD Trucks    |1 796|1 496|20%   |9 029|6 991 |29%   |
+-------------------+-----+-----+------+-----+------+------+
|                   |     |     |      |     |      |      |
+-------------------+-----+-----+------+-----+------+------+
|Light duty (< 7t)  |142  |98   |45%   |542  |526   |3%    |
+-------------------+-----+-----+------+-----+------+------+
|Medium duty (7-16t)|820  |643  |28%   |3 699|2 898 |28%   |
+-------------------+-----+-----+------+-----+------+------+
|Heavy duty (>16t)  |834  |755  |10%   |4 788|3 567 |34%   |
+-------------------+-----+-----+------+-----+------+------+
|Total UD           |1 796|1 496|20%   |9 029|6 991 |29%   |
+-------------------+-----+-----+------+-----+------+------+
|                                      |     |      |      |
+-------------------+-----+-----+------+-----+------+------+
|Non-consolidated operations           |     |      |      |
+-------------------+-----+-----+------+-----+------+------+
|DVT (100%)         |5    |57   |-91%  |22   |134   |-84%  |
+-------------------+-----+-----+------+-----+------+------+
|Total volumes      |1 801|1 553|16%   |9 051|7 125 |27%   |
+-------------------+-----+-----+------+-----+------+------+

 Eicher*

Eicher delivered 2,430 trucks in May which is the same amount of trucks
delivered in May 2013.

Deliveries by market area:

+-------------------+-----+-----+------+------+------+------+
|Delivered Units    |May        |Change|Year-to-date |Change|
+-------------------+-----+-----+------+------+------+------+
|Eicher (100%)      |     |     |      |      |      |      |
+-------------------+-----+-----+------+------+------+------+
|Asia               |2 430|2 419|0%    |12 445|15 255|-18%  |
+-------------------+-----+-----+------+------+------+------+
|Total Eicher       |2 430|2 419|0%    |12 445|15 255|-18%  |
+-------------------+-----+-----+------+------+------+------+
|                   |     |     |      |      |      |      |
+-------------------+-----+-----+------+------+------+------+
|Light duty (< 7t)  |405  |397  |2%    |1 715 |2 120 |2 003 |
+-------------------+-----+-----+------+------+------+------+
|Medium duty (7-16t)|1 460|1 564|-7%   |5 642 |7 102 |9 939 |
+-------------------+-----+-----+------+------+------+------+
|Heavy duty (>16t)  |565  |458  |23%   |2 658 |3 223 |3 313 |
+-------------------+-----+-----+------+------+------+------+
|Total Eicher       |2 430|2 419|0%    |10 015|12 445|15 255|
+-------------------+-----+-----+------+------+------+------+

*As of 2013 Eicher is reported under the equity method and consequently sales
and deliveries are not consolidated in to the Volvo Group

June 18, 2014

Reporters, who would like more information, please contact:

Volvo Group Media Relations:
Karin Wik, +31 323 72 29

Truck brands:
Renault Trucks, Fabrice Piombo, +33 472961220
Mack, Kim Pupillo, +1 336 393 2640
Volvo, Anders Vilhelmsson, +46 31 322 38 79
UD, Per Sundström, +81 80 40 64 92 33

Investor Relations:
Christer Johansson, AB Volvo +46 31 661334
Patrik Stenberg, AB Volvo +46 31 661336
Anders Christensson, AB Volvo +46 31 661191
John Hartwell, Volvo Group North America, +1 201-252-8844

For more stories from the Volvo Group, please visit
http://www.volvogroup.com/globalnews

The Volvo Group is one of the world’s leading manufacturers of trucks, buses,
construction equipment and marine and industrial engines. The Group also
provides complete solutions for financing and service. The Volvo Group, which
employs about 110,000 people, has production facilities in 19 countries and
sells its products in more than 190 markets. In 2014 the Volvo Group’s sales
amounted to about SEK 270 billion. The Volvo Group is a publicly-held company
headquartered in Göteborg, Sweden. Volvo shares are listed on OMX Nordic
Exchange Stockholm. For more information, please visit www.volvogroup.com or
www.volvogroup.mobi if you are using your mobile phone.

AB Volvo (publ) may be required to disclose the information provided herein
pursuant to the Securities Markets Act and/or the Financial Instruments Trading
Act. The information was submitted for publication at 08.30 a.m June 18, 2014.