Yes.....and so VOLKSWAGEN has remained for the subsequent seven decades, so I guess that shoots down that one.Stepping away from the good humor of this thread, I will say I hope it does NOT mean "Executive" - as in, a stretch model for the cojonically underenhanced.
Again, here is another article that says it's around $30,000, which is wrong, it's $35,000. If they use E for Economy, everyone better be ready for the nay-sayers to say that's wrong and they are manipulating the term. I'm assuming they would be using the term like for an airplane, meaning general/everyone, but not everyone can afford a $35,000. I'm not going to get on my soap box again, but they are playing with fire here. Now if the price was in the mid to high 20s, that would make sense.
I think auto companies like coming up with letters that sound good - and may or may not mean anything. S - could be Sedan or could be like the S class of Mercedes. E could be Economy/Everyone/Excellent or E class like of Mercedes. I suspect it is the latter.