VE COMMERCIAL VEHICLES SELLS 4048 UNITS IN JULY 2019

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales 4048 units in July 2019 (YTD 17379 units) as compared to 5964 units in July 2018 (LYTD 22291), recording decline of 32.1%(YTD decline 22.0%). This includes 4001 units of Eicher brand and 47 units of Volvo brand.

Following are the key highlights for July 2019:

• Eicher branded trucks & buses have recorded sales of 4001 units in July 2019 (YTD 17135 units), as compared to 5916 units in July 2018 (LYTD 22045 units), representing a decline of 32.4 (YTD decline of 22.3%).
• In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3695 units in July 2019 (YTD 15940 units) as compared to 5158 units in July 2018 (LYTD 19312 units), representing a decline of 28.4 % (YTD decline of 17.5%)
• On the Exports front, Eicher branded trucks & buses have recorded sales of 306 units in July 2019 (YTD 1195 units) as compared to 758 units in July 2018 (LYTD 2733 units), representing a decline of 59.6% (YTD decline of 56.3%).
• Volvo Trucks has recorded sales of 47 units in July 2019 (YTD 244 units) as compared to 48 units in July 2018 (LYTD 246 units), representing a decline of 2.1% (YTD decline of 0.8%).

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.