VE Commercial Vehicles sells 4892 units in December 2020

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 4892units inDecember2020(YTD 23097 units) as compared to 5042units inDecember2019(LYTD 37092), recording decline of3%(YTD decline37.7%). This includes 4687 units of Eicher brand and205 units of Volvo brand.

Following are the key highlights for December2020:

• Eicher branded trucks & buses have recorded sales of 4687 units in December2020 (YTD 22463units), as compared to 4910 units in December2019 (LYTD 36311 units),representing a decline of 4.5% (YTD decline of38.1%).
• In the domestic CV market, Eicher branded trucks & buses have recorded sales of 4069units in December2020 (YTD 19319units) as compared to4410units in December2019 (LYTD 32891), representing a decline of7.7% (YTD decline of41.3%).
• On the Exports front, Eicher branded trucks & buses have recorded sales of 618units in December2020(YTD 3144 units) as compared to 500units in December2019 (LYTD3420units), representing a growth of23.6%(YTD decline of8.1%).
• Volvo Trucks and Volvo Buses have recorded sales of205 units in December2020(YTD 634 units) as compared to 132units in December2019 (LYTD 781units), representing a growth of 55.3% (YTD decline of 18.8%)

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.