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Volkswagen Adds New Chapter With $96,000 Luxury Car Wearing Beetle Badge

October 18, 2002

Volkswagen may mean "People's Car" in German, but it won't be the masses driving the company's new luxury model, Phaeton, which costs $96,000, according to an Associated Press report.The Phaeton, a 16.5-foot land yacht bearing the same VW badge as the proletarian Beetle of the 1960s and 70s, is spearheading the company's attempt to push its image upscale -- and take a slice of the lucrative, recession-proof market for expensive cars from competitors such as BMW and Mercedes-Benz, AP said.The first Phaetons are just showing up at dealerships in Europe, and they're slated to appear in the United States next year.
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