Truck deliveries in October 2014


Deliveries from the Volvo Group’s truck operations in October 2014 amounted to
22,244 vehicles. This was a decrease of 5% compared with the year-earlier month.
Volvo Group

Deliveries from the Volvo Group’s truck operations in October 2014 amounted to
22,244 vehicles. This was a decrease of 5% compared with the year-earlier month.
On a regional basis October deliveries declined by 14% in South America,
primarily due to lower deliveries in Brazil. Deliveries in Europe declined by
22%, mainly as a result of high deliveries in 2013 during the pre-buy ahead of
the EU6 emission legislation and lower deliveries in France due to general slow
economic development in 2014. Deliveries in North America increased by 21% in
October.

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

+---------------------------+------+------+------+-------+-------+------+
|Delivered Units            |October      |Change|Year-to date   |Change|
+---------------------------+------+------+------+-------+-------+------+
|Volvo Group                |2014  |2013  |      |2014   |2013   |      |
+---------------------------+------+------+------+-------+-------+------+
|Europe                     |7,536 |9,655 |-22%  |59,189 |62,821 |-6%   |
+---------------------------+------+------+------+-------+-------+------+
|   Western Europe          |6,077 |7,494 |-19%  |46,291 |49,036 |-6%   |
+---------------------------+------+------+------+-------+-------+------+
|   Eastern Europe          |1,459 |2,161 |-32%  |12,898 |13,785 |-6%   |
+---------------------------+------+------+------+-------+-------+------+
|North America              |5,891 |4,857 |21%   |47,847 |36,839 |30%   |
+---------------------------+------+------+------+-------+-------+------+
|South America              |1,868 |2,167 |-14%  |19,432 |23,814 |-18%  |
+---------------------------+------+------+------+-------+-------+------+
|Asia                       |2,911 |2,847 |2%    |26,372 |23,054 |14%   |
+---------------------------+------+------+------+-------+-------+------+
|Other markets              |1,545 |1,371 |13%   |13,918 |13,030 |7%    |
+---------------------------+------+------+------+-------+-------+------+
|Total Volvo Group          |19,751|20,897|-5%   |166,758|159,558|5%    |
+---------------------------+------+------+------+-------+-------+------+
|                           |      |      |      |       |       |      |
+---------------------------+------+------+------+-------+-------+------+
|Light duty (< 7t)          |1,492 |1,448 |3%    |11,969 |10,717 |12%   |
+---------------------------+------+------+------+-------+-------+------+
|Medium duty (7-16t)        |1,485 |1,567 |-5%   |12,338 |13,497 |-9%   |
+---------------------------+------+------+------+-------+-------+------+
|Heavy duty (>16t)          |16,774|17,882|-6%   |142,451|135,344|5%    |
+---------------------------+------+------+------+-------+-------+------+
|Total Volvo Group          |19,751|20,897|-5%   |166,758|159,558|5%    |
+---------------------------+------+------+------+-------+-------+------+
|                           |      |      |      |       |       |      |
+---------------------------+------+------+------+-------+-------+------+
|Non-consolidated operations|      |      |      |       |       |      |
+---------------------------+------+------+------+-------+-------+------+
|Eicher (100%)              |2,486 |2,614 |-5%   |25,257 |27,250 |-7%   |
+---------------------------+------+------+------+-------+-------+------+
|DVT (100%)                 |7     |4     |75%   |65     |185    |-65%  |
+---------------------------+------+------+------+-------+-------+------+
|Total Volumes              |22,244|23,515|-5%   |192,080|186,993|3%    |
+---------------------------+------+------+------+-------+-------+------+

Volvo

In October 11,460 Volvo trucks were delivered, a decrease of 5% compared with
the same month last year.

In Europe 4,377 vehicles were delivered during October, down by 21% compared
with October 2013. The decline was mainly a result of high deliveries in 2013
during the pre-buy ahead of the EU6 emission legislation.

Demand in North America continued to be good and deliveries increased by 23% to
3,544 vehicles in comparison with the same period last year.

Deliveries in South America decreased to 1,783 trucks in October, a decrease of
7% compared with October 2013.

Deliveries by market area:

+-------------------+------+------+------+------+------+------+
|Delivered Units    |October      |Change|Year-to-date |Change|
+-------------------+------+------+------+------+------+------+
|Volvo              |2014  |2013  |      |2014  |2013  |      |
+-------------------+------+------+------+------+------+------+
|Europe             |4,377 |5,552 |-21%  |34,632|35,181|-2%   |
+-------------------+------+------+------+------+------+------+
|   Western Europe  |3,192 |3,764 |-15%  |24,305|23,717|2%    |
+-------------------+------+------+------+------+------+------+
|   Eastern Europe  |1,185 |1,788 |-34%  |10,327|11,464|-10%  |
+-------------------+------+------+------+------+------+------+
|North America      |3,544 |2,880 |23%   |28,202|20,966|35%   |
+-------------------+------+------+------+------+------+------+
|South America      |1,783 |1,921 |-7%   |18,004|21,277|-15%  |
+-------------------+------+------+------+------+------+------+
|Asia               |1,312 |1,335 |-2%   |10,365|9,792 |6%    |
+-------------------+------+------+------+------+------+------+
|Other markets      |444   |436   |2%    |4,884 |4,474 |9%    |
+-------------------+------+------+------+------+------+------+
|Total Volvo        |11,460|12,124|-5%   |96,087|91,690|5%    |
+-------------------+------+------+------+------+------+------+
|                   |      |      |      |      |      |      |
+-------------------+------+------+------+------+------+------+
|Medium duty (7-16t)|151   |220   |-31%  |1,637 |1,385 |18%   |
+-------------------+------+------+------+------+------+------+
|Heavy duty (>16t)  |11,309|11,904|-5%   |94,450|90,305|5%    |
+-------------------+------+------+------+------+------+------+
|Total Volvo        |11,460|12,124|-5%   |96,087|91,690|5%    |
+-------------------+------+------+------+------+------+------+

 Mack

Deliveries for Mack in October totaled 2,421 vehicles, a 11% increase compared
with October 2013.

Deliveries by market area:

+-----------------+-----+-----+------+------+------+------+
|Delivered Units  |October    |Change|Year-to-date |Change|
+-----------------+-----+-----+------+------+------+------+
|Mack             |2014 |2013 |      |2014  |2013  |      |
+-----------------+-----+-----+------+------+------+------+
|Europe           |     |     |      |      |1     |-100% |
+-----------------+-----+-----+------+------+------+------+
|   Western Europe|     |     |      |      |1     |-100% |
+-----------------+-----+-----+------+------+------+------+
|   Eastern Europe|     |     |      |      |      |      |
+-----------------+-----+-----+------+------+------+------+
|North America    |2,290|1,931|19%   |19,426|15,479|25%   |
+-----------------+-----+-----+------+------+------+------+
|South America    |41   |163  |-75%  |592   |1,686 |-65%  |
+-----------------+-----+-----+------+------+------+------+
|Asia             |     |     |      |9     |14    |-36%  |
+-----------------+-----+-----+------+------+------+------+
|Other markets    |90   |84   |7%    |871   |793   |10%   |
+-----------------+-----+-----+------+------+------+------+
|Total Mack       |2,421|2,178|11%   |20,898|17,973|16%   |
+-----------------+-----+-----+------+------+------+------+
|                 |     |     |      |      |      |      |
+-----------------+-----+-----+------+------+------+------+
|Heavy duty (>16t)|2,421|2,178|11%   |20,898|17,973|16%   |
+-----------------+-----+-----+------+------+------+------+
|Total Mack       |2,421|2,178|11%   |20,898|17,973|16%   |
+-----------------+-----+-----+------+------+------+------+

 Renault Trucks

In October 3,917 trucks were delivered by Renault Trucks. The deliveries of
heavy duty trucks declined by 30% to 2,014 trucks in October compared with the
year-earlier month. The decline was mainly a result of high deliveries in 2013
during the pre-buy ahead of the EU6 emission legislation and lower deliveries in
France due to general slow economic development. Deliveries of light duty trucks
increased to 1,360 trucks, up by 5%.

Deliveries by market area:

+--------------------+-----+-----+------+------+------+------+
|Delivered Units     |October    |Change|Year-to-date |Change|
+--------------------+-----+-----+------+------+------+------+
|Renault Trucks      |2014 |2013 |      |2014  |2013  |      |
+--------------------+-----+-----+------+------+------+------+
|Europe              |3,159|4,103|-23%  |24,557|27,639|-11%  |
+--------------------+-----+-----+------+------+------+------+
|   Western Europe   |2,885|3,730|-23%  |21,986|25,318|-13%  |
+--------------------+-----+-----+------+------+------+------+
|   Eastern Europe   |274  |373  |-27%  |2,571 |2,321 |11%   |
+--------------------+-----+-----+------+------+------+------+
|North America       |31   |34   |-9%   |134   |158   |-15%  |
+--------------------+-----+-----+------+------+------+------+
|South America       |30   |80   |-63%  |554   |713   |-22%  |
+--------------------+-----+-----+------+------+------+------+
|Asia                |183  |154  |19%   |2,646 |1,705 |55%   |
+--------------------+-----+-----+------+------+------+------+
|Other markets       |514  |426  |21%   |3,981 |4,021 |-1%   |
+--------------------+-----+-----+------+------+------+------+
|Total Renault Trucks|3,917|4,797|-18%  |31,872|34,236|-7%   |
+--------------------+-----+-----+------+------+------+------+
|                    |     |     |      |      |      |      |
+--------------------+-----+-----+------+------+------+------+
|Light duty (< 7t)   |1,360|1,297|5%    |10,665|9,497 |12%   |
+--------------------+-----+-----+------+------+------+------+
|Medium duty (7-16t) |543  |611  |-11%  |3,468 |5,462 |-37%  |
+--------------------+-----+-----+------+------+------+------+
|Heavy duty (>16t)   |2,014|2,889|-30%  |17,739|19,277|-8%   |
+--------------------+-----+-----+------+------+------+------+
|Total Renault Trucks|3,917|4,797|-18%  |31,872|34,236|-7%   |
+--------------------+-----+-----+------+------+------+------+

 UD Trucks

In October 2014, UD Trucks delivered 1,958 trucks, which was an increase by 9%
compared to October last year.

Deliveries by market area:

+-------------------+-----+-----+------+------+------+------+
|Delivered Units    |October    |Change|Year-to-date |Change|
+-------------------+-----+-----+------+------+------+------+
|UD Trucks          |2014 |2013 |      |2014  |2013  |      |
+-------------------+-----+-----+------+------+------+------+
|North America      |26   |12   |117%  |85    |236   |-64%  |
+-------------------+-----+-----+------+------+------+------+
|South America      |14   |3    |367%  |282   |138   |104%  |
+-------------------+-----+-----+------+------+------+------+
|Asia               |1,414|1,358|4%    |13,348|11,543|16%   |
+-------------------+-----+-----+------+------+------+------+
|Other markets      |497  |425  |17%   |4,182 |3,742 |12%   |
+-------------------+-----+-----+------+------+------+------+
|Total UD Trucks    |1,951|1,798|9%    |17,897|15,659|14%   |
+-------------------+-----+-----+------+------+------+------+
|                   |     |     |      |      |      |      |
+-------------------+-----+-----+------+------+------+------+
|Light duty (< 7t)  |132  |151  |-13%  |1,304 |1,220 |7%    |
+-------------------+-----+-----+------+------+------+------+
|Medium duty (7-16t)|791  |736  |7%    |7,233 |6,650 |9%    |
+-------------------+-----+-----+------+------+------+------+
|Heavy duty (>16t)  |1,028|911  |13%   |9,360 |7,789 |20%   |
+-------------------+-----+-----+------+------+------+------+
|Total UD           |1,951|1,798|9%    |17,897|15,659|14%   |
+-------------------+-----+-----+------+------+------+------+
|                                      |      |      |      |
+-------------------+-----+-----+------+------+------+------+
|Non-consolidated operations           |      |      |      |
+-------------------+-----+-----+------+------+------+------+
|DVT (100%)         |7    |4    |75%   |65    |185   |-65%  |
+-------------------+-----+-----+------+------+------+------+
|Total volumes      |1,958|1,802|9%    |17,962|15,844|13%   |
+-------------------+-----+-----+------+------+------+------+

 Eicher*

Eicher delivered 2,486 trucks in October which is a decrease by 5% compared to
the amount of trucks delivered in October 2013.

Deliveries by market area:

+-------------------+-----+-----+------+------+------+------+
|Delivered Units    |October    |Change|Year-to-date |Change|
+-------------------+-----+-----+------+------+------+------+
|Eicher (100%)      |2014 |2013 |      |2014  |2013  |      |
+-------------------+-----+-----+------+------+------+------+
|Asia               |2,486|2,614|-5%   |25,257|27,250|-7%   |
+-------------------+-----+-----+------+------+------+------+
|Total Eicher       |2,486|2,614|-5%   |25,257|27,250|-7%   |
+-------------------+-----+-----+------+------+------+------+
|                   |     |     |      |      |      |      |
+-------------------+-----+-----+------+------+------+------+
|Light duty (< 7t)  |316  |437  |-28%  |4,046 |3,798 |7%    |
+-------------------+-----+-----+------+------+------+------+
|Medium duty (7-16t)|1,567|1,718|-9%   |14,891|17,451|-15%  |
+-------------------+-----+-----+------+------+------+------+
|Heavy duty (>16t)  |603  |459  |31%   |6,320 |6,001 |5%    |
+-------------------+-----+-----+------+------+------+------+
|Total Eicher       |2,486|2,614|-5%   |25,257|27,250|-7%   |
+-------------------+-----+-----+------+------+------+------+

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

November 19, 2014

Reporters, who would like more information, please contact:

Volvo Group Media Relations:
Kina Wileke, +46 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 Trucks, Mansoor Ahmed, +86 10 65829122

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.  +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 November 19,
2014.

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