The German company said output would end at its plant in Mexico next July after production of celebration models.
Volkswagen is ending production of its Beetle in 2019, closing the door on one of the world’s most iconic car designs.
Volkswagen, in the wake of the diesel emissions scandal and huge investment in electric vehicles, says it will look to slim down its model range with a greater focus on family and electric cars.
The company say the final Beetle models will be available in both coupe and convertible styles.
The Beetle was originally designed in the 1930s by legendary engineer Ferdinand Porsche – a name now synonymous with fast cars – at the behest of Adolf Hitler, who wanted to see a cheap and practical mass-produced car made available to the German people.
Production of the Beetle has ceased and then been revived several times over the decades, with the last of the original design rolling out of VW’s Mexican factory in 2003.
The “New Beetle” redesign, which was based on VW’s Golf, stormed the US market in the late 1990s, selling more than 80,000 in 1999.
The company is already thought to have reviewed a possible model revamp and options for electric versions in recent years, before deciding on its abandonment.
But Mr Woebcken didn’t completely rule out that the model could one day be resurrected: “Never say never.”
Volkswagen sold 11,151 Beetles during the first eight months of 2018, down 2.2% from the same period a year earlier.