Volkswagen is delaying the introduction of the new Phaeton as the automaker seeks to improve returns on the slow-selling, upscale 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 automaker is again reworking the Phaeton, which costs more than three times the mid-size Passat sedan, said the people, who asked to not be identified because the discussions are private.

VW did not on its plans for the model.

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Who Wants A VW Limousine? New Phaeton Delayed To Seek Production Cost Savings

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