VE Commercial Vehicles sells 5457 units in February 2021

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of5457units inFebruary2021(YTD 34231 units) as compared to 4586units inFebruary2020(LYTD 47216), recording growth of19%(YTD decline27.5%). This includes 5335 units of Eicher brand and122 units of Volvo brand.

Following are the key highlights for February2021:

• Eicher branded trucks & buses have recorded sales of 5335 units in February2021 (YTD 33318units), as compared to 4439 units in February2020 (LYTD 46132 units),representing a growth of 20.2% (YTD decline of27.8%).
• In the domestic CV market, Eicher branded trucks & buses have recorded sales of 4825units in February2021 (YTD 29109units) as compared to3875units in February2020 (LYTD 41631), representing a growth of24.5% (YTD decline of30.1%).
• On the Exports front, Eicher branded trucks & buses have recorded sales of 510units in February2021(YTD 4209 units) as compared to 564units in February2020 (LYTD4501units), representing a decline of9.6%(YTD decline of6.5%).
• Volvo Trucks and Volvo Buses have recorded sales of122 units in February2021(YTD 913 units) as compared to 147units in February2020 (LYTD 1084units), representing a decline of 17% (YTD decline of 15.8%)

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.