VW Said to Delay Revamp of $101,000 Phaeton Sedan in Profit Push

Volkswagen AG is delaying the introduction of the new Phaeton as the automaker seeks to improve returns on the slow-selling luxury sedan by lowering production and material costs, people familiar with the matter said.

Even though a new version of one of VW’s least successful models is ready for production, the manufacturer is again reworking the Phaeton, which costs more than three times the mid-sized Passat sedan, said the people, who asked to not be identified because the discussions are private. The Wolfsburg, Germany-based automaker didn’t comment on its plans for the model.