A "successor model" refers to a newer or upgraded version of something. It is a newer model or design that replaces and improves upon the previous one. Full definition
Albrecht Reimold, Executive Board Member for Production and Logistics for Porsche AG, described, «The production launch of the Cayman successor models was executed to our full satisfaction... [The team] handled this production launch impeccably. (bakermotorcompany.com)
DaimlerChrysler is offering a final special model — the smart fortwo edition red — to mark the phase - out of the current model before the fortwo successor model becomes available in the spring of 2007. (greencarcongress.com)
LVMH's TAG Heuer says it sold 56,000 of its first line of smartwatches and aims to sell over 150,000 of its successor model. (fortune.com)