When Volkswagen took a can opener to the Rabbit, it created an '80s icon. With a 90-hp 1.8-liter engine, like the contemporary GTI, the Rabbit convertible was a quick and nimble runabout.

“The Cabrio is a niche market,” Shewmake said. “But it’s an important market for us, because it creates an image for Volkswagen. I’d say it constitutes about 15 percent of our overall ...