Press releases 2009

Demand weakened sharply in all markets during the first quarter.

As a result of the sharp decline on world markets for heavy vehicles, the Volvo Group is being forced to implement new personnel reductions within its Swedish operations. A total of 1,543 employees are affected when Volvo Trucks, Volvo Construction Equipment, Volvo Penta and Volvo Powertrain today announced new layoffs.

AB Volvo hereby invites the media to a press conference on Friday, April 24 in conjunction with the release of the Volvo Group’s interim report for the first quarter of 2009.

Today, April 7, the Håkan Frisinger Foundation for Transportation Research is awarding its scholarship for 2008 to Associate Professor Pål Börjesson at Lund University. The scholarship, amounting to SEK 250,000, is awarded to Pål Börjesson for his research within the area of systems studies of bioenergy and biofuels, as well as spreading knowledge and cooperation with decision-makers in society and the business community.

The Annual General Meeting of AB Volvo held on April 1, 2009 approved the Board’s proposal to pay an ordinary dividend to the shareholders of SEK 2.00 per share. April 6, 2009 was adopted as the record date for entitlement to receive dividends. Payment of the dividend is expected to be made on Thursday, April 9, 2009, through Euroclear Sweden AB (formerly VPC AB).

Six engineers have been named the winners of Volvo’s 2009 Technology Award for their development of the world’s first commercially viable hybrid solution for heavy vehicles. The award was presented by Leif Johansson, President and CEO of Volvo, at the Annual General Meeting of AB Volvo on April 1.

Volvo Buses has received order for 260 buses in India. Among these the city of Bangalore purchased an additional 140 Volvo 8400 city buses.

AB Volvo today published its 2008 Sustainability Report, which is available on the Volvo Group website.

Total deliveries from the Volvo Group’s truck operations in February amounted to 10,863 vehicles. This was a decrease of 51%, compared with the year-earlier period.

Today, Tuesday, March 10, AB Volvo is publishing its 2008 Annual Report on www.volvogroup.com, the Group’s website on the Internet.