FRANKFURT, Germany -- Automaker Volkswagen AG said Monday it plans to launch a four-seat convertible early in 2006, a move that will continue the company’s effort to give its brand a more upscale appeal.
The as-yet unnamed new model, which was presented as a concept car at the Geneva International Auto Show in March, will sport a retractable metal roof and will be positioned between the Golf and Passat, Volkswagen said in a statement.
It is expected to compete with the Mercedes CLK roadster and BMW’s 3-series, with a price of around 30,000 euros ($35,000).
The new vehicle is based on the Concept C vehicle, which sported sweeping curves delineating the front grille. It will be built at Volkswagen’s plant in Palmela, Portugal, which currently makes the VW Sharan minivan and its twin sister Ford Galaxy as well as the SEAT Alhambra.
Volkswagen has been shifting its core VW brand upmarket, with the launch of the Phaeton luxury sedan and upscale Touareg sports utility vehicle. Sales of its core small-car models, however, have been slipping.
The VW brand posted a first-quarter operating loss of 71 million euros ($84 million) compared with a profit of 188 million euros in the previous year, despite the launch of a new version of its flagship Golf in October.
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The as-yet unnamed new model, which was presented as a concept car at the Geneva International Auto Show in March, will sport a retractable metal roof and will be positioned between the Golf and Passat, Volkswagen said in a statement.
It is expected to compete with the Mercedes CLK roadster and BMW’s 3-series, with a price of around 30,000 euros ($35,000).
The new vehicle is based on the Concept C vehicle, which sported sweeping curves delineating the front grille. It will be built at Volkswagen’s plant in Palmela, Portugal, which currently makes the VW Sharan minivan and its twin sister Ford Galaxy as well as the SEAT Alhambra.
Volkswagen has been shifting its core VW brand upmarket, with the launch of the Phaeton luxury sedan and upscale Touareg sports utility vehicle. Sales of its core small-car models, however, have been slipping.
The VW brand posted a first-quarter operating loss of 71 million euros ($84 million) compared with a profit of 188 million euros in the previous year, despite the launch of a new version of its flagship Golf in October.
Full Story HERE