Volkswagen AG (VOW)’s ultra-luxury Bugatti division presented a new special edition of its Grand Sport Vitesse model priced at 2.28 million euros ($3 million) before taxes to complement its high-end sports car offerings.
The carmaker will produce three of the new Jean Bugatti racer, named after the oldest son of founder Ettore Bugatti, the Molsheim, France-based company said in a statement released yesterday at a Frankfurt press conference. The special edition is based on the Bugatti Veyron 16.4 Grand Sport Vitesse, which features an 8-liter, 1,200-horsepower W16 engine. It accelerates to 100 kilometers (62 miles) per hour in 2.6 seconds.
Volkswagen, Europe’s largest carmaker, plans to expand its range of premium vehicles to reap a larger share of the segment, where profit margins are richer than for mass-market models. Earnings from luxury brands helped Wolfsburg, Germany-based VW cushion the fallout from economic woes in Europe, where demand for new cars is falling to a 20-year low amid unemployment rates lingering near record highs.
The Bugatti presentation was part of a VW press event in Frankfurt yesterday displaying the range of the group’s offerings that was planned to upstage competitors before the opening of the International Auto Show, the industry’s largest in Europe this year. Following press-conference and supplier days, show is open to the public Sept. 14 through Sept. 22.
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