Volvo Cars, owned by China’s Geely Group, reported a 12% YoY drop in global sales for June, totaling 62,858 units. This marks the fourth consecutive monthly decline, driven by weak demand for electric vehicles and rising trade tariffs. Sales of fully electric models fell 26% and accounted for 22% of total deliveries. Electrified vehicles, including plug-in hybrids, dropped 19% and made up 44% of the total. Earlier in April, Volvo withdrew its profit forecast for the next two years due to tariff uncertainties. In May, the company announced it would cut 3,000 mostly white-collar jobs, citing rising costs and softening EV demand.