Volvo Cars said it has scaled back its U.S. model lineup this year, among the first examples of a major automaker halting U.S. shipments as President Donald Trump's tariffs make it harder to sell a broad range of vehicles profitably.

It comes shortly after Volvo Cars launched plans to add its best-selling XC60 sports utility vehicle to the production line of its U.S. car plant in Ridgeville outside Charleston in South Carolina. Shares of Sweden-based automaker Volvo Cars rose more than 10% on Thursday as the company's second-quarter operating profit beat analyst expectations despite a sharp year-on-year decline.