THE VOLVO Group has detected that an emissions control component used in certain markets and models may degrade more quickly than expected, thereby affecting the vehicles emission performance negatively.
As a consequence, the Volvo Group will make a provision of SEK 7bn (£615.8m) in the fourth quarter of 2018 accounts, relating to the estimated costs to address the issue.
The next step will be to define how to implement corrective actions concerning the component in vehicles affected.
The degradation of the component in question is a result of a materials issue that occurs over time. All engines and vehicles equipped with the component meet emissions limits at delivery, say Volvo.