Some of the problems, as described by VW America CEO Stefan Jacoby, include initial quality issues, overpricing and lackluster styling. Prices for the car started at about $70,000 and went all the way up to $100,000 for the flagship W12 model. Speaking with Automotive News, Jacoby said a good price for the new model would be about $55,000 and described the new car as being smaller than the current model so as to not compete with its Audi A8 cousin. Jacoby wasn’t willing to give a release date for the car but earlier reports claim it will be launched in Europe by 2010.
To further differentiate the new Phaeton from its rivals, officials are also considering adding a diesel model to the lineup but no final decision has been made. The only thing that’s certain is that if it does arrive the car will still carry the Phaeton name. "The Phaeton is the name of Volkswagen's luxury. We are proud of this name, and this name fits this car," Jacoby explained.