An improved vehicle wheel cover retention system and method for producing the same includes a vehicle wheel having a disc defining an outboard facing wheel surface and including an outboard tire bead seat retaining flange. The outboard bead seat retaining flange includes an outer peripheral end and an inner surface having a circumferential, radially outwardly facing groove formed therein. The vehicle wheel further includes a wheel cover which covers at least a portion of the outboard facing wheel surface and the entire portion of the outer peripheral end of the outboard bead seat retaining flange. The wheel cover includes an inner cover surface and an outer annular lip which extends into the groove when the wheel cover is installed on the disc. The method for producing the vehicle wheel includes the steps of: (a) providing a vehicle wheel including a disc defining an outboard facing wheel surface and including an outboard tire bead seat retaining flange, the outboard bead seat retaining flange including an outer peripheral end and an inner surface having a circumferential, radially outwardly facing groove formed therein; (b) providing a wheel cover defining an inner cover surface and an outer cover surface, the wheel cover including an outer annular lip; (c) applying an adhesive to one of the outboard facing wheel surface and the inner cover surface; (d) supporting the wheel and the cover in coaxial relationship relative to one another; (e) selectively moving the wheel and the cover toward one another to enable the adhesive to secure the wheel and the cover together; and (f) subjecting the outer annular lip of the wheel cover to an operation to deform the outer annular lip and cause the outer annular lip to be received into the groove whereby the wheel cover covers at least a portion of the outboard facing wheel surface and the entire portion of the outer peripheral end of the outboard bead seat retaining flange.