Few cars can replicate the anonymity and luxury of the Volkswagen Phaeton, but the company’s flagship sedan is starting to show its wrinkles. Thankfully, VW announced plans to rollout a new version in the coming years.

The current Phaeton – yes, it’s still on sale – retains decade-old underpinnings that will need more than just a tweak to advance the car another ten years. That’s why VW has decided to launch its successor on the next-gen MLB platform, currently in development. The Phaeton has made its mark by pioneering cutting-edge technology and passing it down the line to more affordable models, so this next iteration will have to live up to the same mantra. No word yet on a possible powertrain, but we wouldn’t be surprised to see some hybrid technology under there.

This announcement came at a cost, however. Although the Phaeton will see the light of day, a cheaper mid-engined descendant of the BlueSport concept will not be in the works. VW cites a shrinking market for this decision, but we assume it would cannibalize the Porsche Boxster and Cayman. Good call VeeDub, we’ll be waiting on that Phaeton.

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[via Autocar]