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December 3, 2008 2:06:08 AM CST

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$1.7M Ride Seeks Loving Owners

Posted May 2, 08 4:05 PM CDT in Arts & Living,  Business 

(Newser) – French automaker Bugatti is betting its business on the fact that 300 people in the world will want to pony up $1.7 million each for its new car, the Veyron. The automobile, which boasts a top speed of 253 mph, has cost VW Group more than half a billion euros in development, but has sold only 180 vehicles, Men's Vogue reports.

With Porsche taking a controlling interest in VW Group later this year, a fierce discussion has ensued about whether the conglomerate (which also owns the Volkswagen, Audi, Bentley, and Lamborghini brands, among others) even needs the Bugatti name. If the company does not start turning a profit, VW Group could sell it off, or just shutter its doors permanently.

Source Men's Vogue

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The Bugatti Veyron Fbg par Hermes car emblem is displayed at the Battery Garden, on the harbor on Wednesday, April 2, 2008 in New York.   (AP Photo/Jin Lee)
Emarati visitors check a Bugatti Veyron 16.4 %u2014 retail price $1.7 million %u2014 during the first day of the 9th Middle East International Motor Show in Dubai in November 2007   (AP Photo/Kamran Jebreili)
The Bugatti Veyron Fbg par Hermes on display at the Battery Garden, on the harbor on Wednesday, April 2, 2008 in New York.   (AP Photo/Jin Lee)
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