Why are S60 B5 Cores so cheap? (US)

Right now I have a V60 Cross County as a rental and it’s fantastic, the first Volvo I’ve driven for a long period of time. I really like this car and I’ve been looking up prices of S60/V60 and I’ve noticed that even 2025 S60 B5 Core models are in the 25k range, why is that the case? Is it because the S60 was discontinued in the US? Is it because the mild hybrid system isn’t too “reliable?” Or sedans are just completely out of fashion in the US? Personally I’d prefer an EV but I’m loving this V60 I have.