DRESDEN, Germany – Cruising the Autobahn from here to Berlin in the new, long-wheelbase ’04 Volkwagen Phaeton engineered for North America, the electronically governed speed inhibitors kick in at 155 mph (250 km/h), and you are surprised – for a number of reasons. VW Phaeton is for those who want luxury without flaunting it. There is a subtlety to how quickly and easily the first ultra-luxury sedan to wear a Volkswagen badge, reaches top speed. And, once there, it doesn’t feel ...

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