Scion and all of its assets are to be absorbed by parent company Toyota, as the brand is killed off due to plummeting sales.
The California-based car maker sold just 56,167 cars last year, which is less than a third of its best result in 2006, when 173,034 cars were sold.
The trend has been in place for more than a decade, because aside from a slight increase in sales in 2011 and 2012 - largely thanks to the launch of the iQ - fewer and fewer people have bought Scion-badged cars.
In an official release, Scion omits mentioning dwindling sales and instead attributes its closure to the end of a successful campaign that’s lasted less than 14 years.
Jim Letz, founding vice-president of Scion and now Toyota Motor North America’s CEO, said: “This isn’t a step back for Scion; it’s a leap forward for Toyota.”
Letz emphasised that the brand’s core objectives – to attract younger buyers to the Toyota brand and develop unique products – have been achieved, adding: “I was there when we established Scion and our goal was to make Toyota and our dealers stronger by learning how to better attract and engage young customers. I’m very proud because that’s exactly what we have accomplished.”