💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Volkswagen to start production of Tarek SUV in Mexico in 2020

Published 07/10/2019, 09:05 PM
© Reuters. Employees take pictures of a Volkswagen Beetle car during a ceremony marking the end of production of VW Beetle cars, at company's assembly plant in Puebla
AMZN
-
VOWG_p
-

By Sharay Angulo

PUEBLA, Mexico (Reuters) - Volkswagen (DE:VOWG_p) rolled the last Beetle off the assembly line on Wednesday, the end of the road for a car that ran from Nazi Germany through hippie counterculture but failed to navigate a swerve in consumer tastes toward SUVs.

Serenaded by a mariachi band and surrounded by proud factory workers, the final units of the retro, rounded compact were celebrated at a VW plant in Mexico's central Puebla state more than 80 years after the model was introduced in Germany.

The Puebla factory, which already produces VW's Tiguan SUV, will make the Tarek SUV in place of the Beetle starting in late 2020, Volkswagen de Mexico Chief Executive Steffen Reiche said. The bigger vehicles are more popular in the United States, the main export market for the Mexico factory.

The last Beetles will be sold on Amazon.com (NASDAQ:AMZN) in a move symbolizing the company's embrace of the future, Reiche said.

"Today is the last day. It has been very emotional," he said. The current design was the third version of the Beetle after two earlier cancellations and revivals of the marque.

The "bug," as the Beetle was nicknamed, debuted in 1938 as an affordable vehicle commissioned by Adolf Hitler to promote car ownership among Germans.

With its funky design and inexpensive price, the car became a success story over subsequent decades and was one of the top-selling models of all time as well as the best-selling import in the United States in the 1960s, according to auto publications.

In the 1960s, the Beetle was a small-is-beautiful icon of the postwar Baby Boom generation. The 1968 movie "The Love Bug," which featured a zany anthropomorphic vehicle, stoked Beetle fever.

© Reuters. Employees take pictures of a Volkswagen Beetle car during a ceremony marking the end of production of VW Beetle cars, at company's assembly plant in Puebla

Despite its place in popular culture, sales of the Beetle have been lackluster in recent years. The German automaker announced in September that the Beetle would go extinct.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.