NEW YORK: Volkswagen announced Thursday it would end production of its iconic "Beetle" cars in 2019 after adding a pair of final editions of the insect-inspired vehicles.
The move comes as Volkswagen emphasizes electric autos and larger family-oriented vehicles, said Hinrich Woebcken, chief executive of Volkswagen Group of America.
But Woebcken opened the door to reviving the model at some point, alluding to the company's 2017 decision to unveil a revamped Volkswagen Bus as a possible template.
"Never say never," he said in a statement.
Volkswagen plans to offer the two final edition models in both coupe and convertible styles. The cars will include nods to earlier versions and be priced at $23,045 and up, the company said.
"The loss of the Beetle after three generations, over nearly seven decades, will evoke a host of emotions from the Beetle's many devoted fans," Woebcken said.
The sedans made their US debut in the 1950s and were popularized with the 1968 Disney movie "The Love Bug."
US sales ceased in 1979, but the vehicle continued to be produced in Mexico and Brazil, according to Car and Driver. VW revived the "New Beetle" in the US 1997.
However, the vehicle's history goes back to the Nazi era, having first been developed by Ferdinand Porsche with support from Adolf Hitler.
Volkswagen to end iconic ‘Beetle’ cars in 2019
Volkswagen to end iconic ‘Beetle’ cars in 2019
Price cuts drive sales of Saudi-owned electric car
- Lucid delivers more vehicles than expected as it prepares to launch luxury new Gravity SUV
RIYADH: The majority Saudi-owned electric car maker Lucid delivered more vehicles than expected in the past three months as price cuts helped boost demand.
The company delivered 2,394 cars from April to June 30, above analysts’ predictions of 1,940.
Lucid produced 3,838 vehicles in the first six months of 2024 and needs to make more than 5,162 cars by end of the year to meet its annual output forecast of 9,000. It made 8,428 cars in 2023.
“I think at this point everything is shaping for them to achieve that,” said Andres Sheppard, senior equity analyst at Cantor Fitzgerald. Lucid will produce and deliver more cars in the second half of the year because of the usual seasonal effects on the industry, he said.
Demand for electric vehicles has grown more slowly than expected pace in the past year, under pressure from high borrowing costs, economic uncertainties and consumer preference for hybrid alternatives.
Lucid and the market leader Tesla have responded by slashing prices and offering incentives such as cheaper financing options. Lucid, which is 60-per-cent owned by the Public Investment Fund, the Kingdom’s sovereign wealth fund, cut the price of its flagship Air model by 10 percent in February.
Its new Gravity SUV model, a rival for Tesla's Model X, goes into production this year and will cost about $80,000.
