In April 2011, the Volvo Group’s truck business in Korea and a number of other truck companies became the subject of an investigation by the Korean Fair Trade Commission. The Korean Fair Trade Commission has issued a press release on July 29, 2013, declaring that a fine in the amount of approximately SEK 101 M is to be imposed on Volvo and a contingent liability in a corresponding amount has been disclosed due to that Volvo has not yet received and thus not yet had the opportunity to evaluate, the decision.
In January 2011, the Volvo Group and a number of other companies in the truck industry became part of an investigation by the European Commission regarding a possible violation of EU antitrust rules. The Volvo Group is currently of the view that it is probable that the Group’s result and cash flow may be materially adversely affected as a result of the ongoing investigation initiated in Europe. It is too early to assess the amounts and timing of the possible fines, and hence to what amount and when it could be accounted for. The Volvo Group has therefore not reported any contingent liability or any provision for the investigation initiated in Europe.
The Volvo Group is cooperating fully with the authorities.