The original concept behind the first Volkswagen, the company, and its name, is the notion of a people’s car – a car affordable and practical enough for common people to own.[25] Hence the name, which is literally "people's car" in German, pronounced [ˈfɔlksvaːɡən]). Although the Volkswagen as produced was mainly the brainchild of Ferdinand Porsche and Adolf Hitler,[26] the idea is much older than Nazism and existed since mass-production of cars was introduced. By 2002, over 21 million Type 1s had been produced, but by 2003, annual production had dropped to 30,000 from a peak of 1.3 million in 1971. VW announced the end of production in June 2003, citing decreasing demand, and the final original Type 1 VW Beetle (No. 21,529,464) rolled off the production line at Puebla, Mexico, on 30 July 2003,[56] 65 years after its original launch.