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Truck deliveries in November 2011

Total deliveries from the Volvo Group’s truck operations in November amounted to
22,440 vehicles. This was an increase of 22% compared with the year-earlier
period.
 
Volvo Group
 
Total deliveries by market for the Volvo Group’s truck operations (Volvo Trucks,
Mack, Renault Trucks, UD Trucks and Eicher):
 
Delivered Units      November                     Year-to-Date
Volvo Group          2011      2010     Change     2011         2010      Change
Europe               8 552     7 624   12%        86 076        57 483   50%
   Western Europe    6 693     6 536   2%         68 737        49 772   38%
   Eastern Europe    1 859     1 088   71%        17 339        7 711    125%
North America        4 839     2 772   75%        37 824        21 108   79%
South America        2 545     2 029   25%        26 355        19 172   37%
Asia                 5 153     4 603   12%        50 071        47 669   5%
Other markets        1 351     1 426   -5%        13 904        13 831   1%
Total Volvo Group    22 440    18 454  22%        214 230       159 263  35%
 
Light duty (< 7t)    1 801     2 860   -37%       22 022        23 369   -6%
Medium duty (7-16t)  3 120     2 592   20%        31 159        27 573   13%
Heavy duty (>16t)    17 520    13 002  35%        161 050       108 321  49%
Total Volvo Group    22 440    18 454  22%        214 230       159 263  35%
 
Volvo Trucks
 
Volvo Trucks’ November deliveries increased 45% year-on-year to 11,349 trucks.
 
In total, deliveries in Europe amounted to 4,418 trucks in November, up 35%
compared with the corresponding period of 2010. Delivery increases were noted in
such countries as the United Kingdom, France and Sweden. As previously announced
the macro-economic uncertainty is currently impacting truck customers who have
become slightly more cautious. Consequently Volvo Trucks is adapting its
production levels in the beginning of 2012 in order to meet the current level of
demand.
 
In Russia, deliveries rose a full 159% to 653 trucks, compared with November
2010. On the whole, deliveries in Eastern Europe rose 72% during November.
 
In the Brazil, deliveries rose 15% in November, compared with the corresponding
period of 2010. And for all of South America deliveries rose 24% to 2,159
trucks. With tougher emission standards starting January 1 2012, Volvo Trucks
expects lower demand in the beginning of the year and will consequently adapt
production levels in January 2012.
 
In North America, November deliveries rose 85% compared with November 2010 to
2,959 trucks. In the segment for long-haul trucks, demand remained healthy. New
sales of trucks are being driven primarily by the need to renew truck fleets
while, to a greater extent, smaller players are now also beginning to replace
their older vehicles.
 
Deliveries by market area: 
 
Delivered Units     November                 Year-to-
                                             Date
Volvo Trucks        2011      2010   Change  2011           2010  Change
Europe              4 418     3 265  35%     41 694    25 552     63%
   Western Europe   3 059     2 476  24%     29 063    20 045     45%
   Eastern Europe   1 359     789    72%     12 631    5 507      129%
North America       2 959     1 602  85%     22 539    11 090     103%
South America       2 159     1 741  24%     22 595    16 658     36%
Asia                1 406     856    64%     12 398    8 755      42%
Other markets       407       364    12%     4 238     3 854      10%
Total Volvo Trucks  11 349    7 828  45%     103 464   65 909     57%
 
Medium duty         217       171    27%     1 738     1 602      8%
(7-16t)
Heavy duty (>16t)   11 132    7 657  45%     101 726   64 307     58%
Total Volvo Trucks  11 349    7 828  45%     103 464   65 909     57%
 
Mack
 
Deliveries in November totalled 2,254 vehicles, up 67% compared with the
year-earlier period. Despite some activity in the energy sector, overall demand
for the construction trucks that are core to Mack remains at low levels. By
successfully shifting focus to highway truck sales, Mack’s performance in the
heavy-duty market as a whole has remained steady.
 
Deliveries by market area:
 
Delivered Units    November                 Year-to-Date
Mack               2011      2010   Change  2011          2010    Change
Europe             52                       99
Eastern Europe     52                       99
North America      1 774     1 091  63%     14 092        9 071   55%
South America      315       153    106%    2 654         1 701   56%
Asia                         1      -100%   7             47      -85%
Other markets      113       103    10%     1 000         903     11%
Total Mack         2 254     1 348  67%     17 852        11 722  52%
Medium Duty                                               2
(7-16t)
Heavy duty (>16t)  2 254     1 348  67%     17 852        11 720  52%
Total Mack         2 254     1 348  67%     17 852        11 722  52%
 
Renault Trucks
 
Deliveries in November decreased by 4% compared to same period last year. In
Europe, deliveries were down 6%, driven by markets in Southern Europe, while
France was flat and Easter Europe up 50%.
 
As previously annonced the macro-economic uncertainty is currently impacting
truck customers who have become slightly more cautious. Consequently Renault
Trucks is adapting its production levels in the beginning of 2012 In order to
meet the current level of demand.
 
Deliveries by market area: 
 
Delivered Units       November                 Year-to-Date
Renault Trucks        2011      2010   Change  2011           2010    Change
Europe                4 082     4 359  -6%     44 283        31 931  39%
   Western Europe     3 634     4 060  -10%    39 674        29 727  33%
   Eastern Europe     448       299    50%     4 609         2 204   109%
North America         43        10             164           50      228%
South America         61        95     -36%    855           545     57%
Asia                  527       341    55%     4 247         2 741   55%
Other markets         444       555    -20%    4 067         5 188   -22%
Total Renault Trucks  5 157     5 360  -4%     53 616        40 455  33%
 
Light duty (< 7t)     1 482     1 735  -15%    17 071        12 999  31%
Medium duty           802       553    45%     7 194         6 682   8%
(7-16t)
Heavy duty (>16t)     2 873     3 072  -6%     29 351        20 774  41%
Total Renault Trucks  5 157     5 360  -4%     53 616        40 455  33%
 
 UD Trucks
 
Deliveries from UD Trucks in November amounted to 2,190 units a decrease by 18%
compared with the year-earlier period.
 
Deliveries from Asia amounted to 1,730 units a decrease of 20% compared with the
year-earlier period whereof deliveries to Japan amounted to 982 units, a
decrease of 23%. Excluding light-duty trucks produced and sold to Nissan Motors
in November 2010, deliveries in Japan increased by 80%. The Nissan Motor
contract manufacturing was discontinued in January 2011.
 
Deliveries from South Africa amounted to 222 units a decrease by 22% compared
with the year-earlier period.
 
Deliveries by market area:
 
Delivered Units    November                 Year-to-Date
UD Trucks          2011      2010   Change  2011          2010    Change
North America      63        69     -9%     1 029         897     15%
South America      10        40     -75%    251           268     -6%
Asia               1 730     2 168  -20%    14 977        21 616  -31%
Other markets      387       404    -4%     4 599         3 886   18%
Total UD Trucks    2 190     2 681  -18%    20 856        26 667  -22%
 
Light duty (< 7t)  147       956    -85%    2 521         8 611   -71%
Medium duty        1 068     933    14%     9 757         8 632   13%
(7-16t)
Heavy duty (>16t)  975       792    23%     8 578         9 424   -9%
Total UD Trucks    2 190     2 681  -18%    20 856        26 667  -22%
 
Eicher
 
Deliveries from Eicher in November totalled 1,491 trucks, up 20% compared to the
year earlier period.
 
Deliveries by market area:
 
Delivered Units    November                 Year-to-Date
Eicher             2011      2010   Change  2011          2010    Change
Asia               1 491     1 238  20%     18 443        14 511  27%
Total Eicher       1 491     1 238  20%     18 443        14 511  27%
 
Light duty (< 7t)  172       169    1%      2 430         1 759   38%
Medium duty        1 033     935    11%     12 470        10 655  17%
(7-16t)
Heavy duty (>16t)  286       134    113%    3 544         2 097   69%
Total Eicher       1 491     1 238  20%     18 443        14 511  27%
 
Volvo Group represents 50% of the total production volume for Eicher.
 
December 19, 2011
 
Reporters who would like more information, please contact:
Media Relations:
Bernard Lancelot, Renault Trucks, +33 (0)4 72 96 58 89
John Walsh, Mack, +1 336 39 32 640
Jenny Björsne, Volvo Trucks, +46 31 66 45 23
Hiroshi Nakamura, UD Trucks, +81 48 72 67 601
Investor Relations:
Patrik Stenberg, AB Volvo, +46 31 66 13 36
Anders Christensson, AB Volvo, tel +46 31 66 11 91
John Hartwell, Volvo Group North America, tel +1 212 418 7432
 
Visit http://www.thenewsmarket.com/volvogroup to access broadcast-standard video
from Volvo Group. You can preview and request video, and choose to receive as a
MPEG2 file or by Beta SP tape. Registration and video is free to the media.
 
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. in December 19,
2011.
 
The Volvo Group is one of the world’s leading manufacturers of trucks, buses and
construction equipment, drive systems for marine and industrial applications and
aerospace components. The Group also provides complete solutions for financing
and service. The Volvo Group, which employs about 100,000 people, has production
facilities in 19 countries and sells their products in more than 180 markets. In
2010 annual sales of the Volvo Group amounted to about SEK 265 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.
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