“After several months of sales decline, the US market is showing signs of recovery and Volvo Cars recorded two consecutive months of growth in May and June. The company expects this recovery to continue in the second half of the year, as the negative effects from the withdrawal of incentives on electrified cars lessens.

“In Europe, Volvo Cars’ biggest market, the company’s performance was resilient despite increased competition and a weaker pricing environment. It recorded a continued strong performance of its fully electric cars (BEVs), with a 23 % increase versus last year, including Türkiye.

“The company also saw good demand for the EX30, now fully produced in Belgium, as well as an all-time high order pace for the EX90. It started production of the new, EX60 in Sweden in April and made the first customer deliveries earlier this month,” Volvo Cars said.