As reported by Bloomberg, Volkswagen AG plans to bring back the Phaeton to the North American market, as the world's third-biggest auto manufacturer is going to boost its image as well as to triple the sales figures by 2018. Earlier the German automaker announced that the company intended to expand its North American SUV portfolio to catch up to Toyota and General Motors. In case Volkswagen succeeds, the U.S. market will meet two new models. The Volkswagen Scirocco coupe is said to join the Phaeton.
We have our eyes firmly set on the U.S. market, said Juergen Borrmann, director of Volkswagens facility in Dresden, Germany. The model will be completely redesigned and retooled before VW begins selling the high-end sedan in the U.S. again.
The career of Volkswagen Phaeton started in 2002 and lasted till 2006. The decision to kick the model off the U.S. lineup was base on the sales figures. The Phaeton is priced at about $90,000, while the development costs exceed $1,3 billion. The German automaker expected to sell about 20,000 units globally per year. However, the model failed to reach this target.