Press release

Update on the impact from COVID-19 on the Volvo Group

2020-03-16

AB Volvo

The consequences of the COVID-19 outbreak is affecting the Volvo Group, and there is a considerable risk of a material financial impact on the Group as from mid-March. The Volvo Group and its suppliers are continuously working to minimize any consequences for customers and mitigating the impact on the Group.

The impact is related to the general situation and decisions made by local authorities resulting in among other things workforce shortage in the production and supply chain disruptions. There is also a potential impact on demand going forward.

Given the uncertain situation, it is not currently possible to predict the full potential impact on the Volvo Group.

March 16, 2020

For further information, please contact:
Claes Eliasson, Volvo Group Media Relations, +46 76 553 72 29

This is information that AB Volvo (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7.50 p.m. CET on March 16, 2020.

For more information, please visit volvogroup.com/press