VW Denies Report That US Debut Of Phaeton Model Delayed

Tuesday , 2:07 pm ET

FRANKFURT February 18, 2003; Dow Jones reported that Volkswagen AG Tuesday denied a report which claimed the company has postponed the U.S. debut of its high-end Phaeton sedan.

The German carmaker plans to launch the car in the U.S. shortly after the International Auto Show in Frankfurt in September, said VW spokesman Hans-Gerd Bode. That's in line with previous plans to launch the car sometime after the Touareg sport utility vehicle hits showrooms in May, Bode said in response to an article in trade publication Automobilwoche. The report said VW had planned to launch the Phaeton in May.

Bode said it's also not true that the carmaker had planned to introduce in Europe a diesel version of the Phaeton in 2002 but delayed taking such action. This car is scheduled to debut in April.

Rumors about delayed model launches have been dogging VW lately. An earnings recovery which many analysts are banking on depends on refreshing its product line as soon as possible.

Company Web site: http://www.volkswagen.com