VE Commercial Vehicles sells 6801units in January2018, recording a growth of 50.6%

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) sold 6801units in January 2018as compared to 4515 units January 2017, recording a growth of 50.6%.This includes6712 units of Eicher brand and 89units of Volvo brand.

Following are the key highlights for January2018:

• Eicher branded trucks & buses have recorded a total sale of 6712 units in January 2018 (YTD 48832units) as compared to 4449units in January 2017 (LYTD 44995 units), recording a growth of 50.9%.
• In the domestic CV market, Eicher branded trucks & buses have recorded sales of 6010units (YTD 42109 units) in January 2018 as compared to 3796 units in January2017 (LYTD 38191 units) representing a growth of 58.3%.
• On the Exports front, Eicher branded trucks & buses have recorded a total sale of 702 units inJanuary2018 (YTD 6723units) as compared to 653 units in January 2017 (LYTD 6804units) representing a growth of 7.5%
• Volvo Trucks has recorded sales of 89 units in January 2018 (YTD 796units) as compared to 66 units in January2017 (LYTD 804 units), recording a growth of 34.8%.

Disclaimer:

All statements included or incorporated by reference in this media release, other than statements or characterizations of historical fact, are forward?looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by us. Although VE Commercial Vehicles believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which such statement was made, and VE Commercial Vehicles undertakes no obligation to Update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits can be derived from them.