Sales numbers dictate everything.
Despite being a vast improvement over its immediate predecessor, the current hasn't been a huge seller. Launched in 2011, the Beetle isn't a bad car, but for whatever reasons, VW just can't get enough people to buy them. Perhaps it's because the car it shares a platform with, the Golf, is so damn good. As first reported by GoodCarBadCar and Jalopnik, only around 2,000 to 3,000 units are sold monthly. The best sales the current Beetle has ever done is about 5,000 examples a month.
By comparison, the New Beetle of the 90s sold 89,000 examples in 1999 alone. German publication Der Spiegel claims that VW is currently considering a few slow-selling models to drop, and the Beetle is one of them, along with the three-door Polo. But the Polo, three- or five-door isn't sold in the US, and most European buyers obviously prefer the latter. Point being, few will miss the Polo three-door, but the Beetle could be a different story. It is an icon, but sadly one that doesn't sell very well. VW has reiterated that it hasn't made any Beetle-related decisions just yet, but don't be surprised if the current car isn't replaced with a redesigned model.