Facing Strong Competition, Bugatti Experiences Slower Sales

Published: Sat Feb 15, 2014 by Marko P.  |  Categories: Bugatti  |  Source: Bloomberg

The French brand shocked the world with the Veyron 16.4 in 2006, but after 8 years and ever stronger competition, the hypercar is becoming increasingly difficult to sell.

Bugatti planned an initial run of 300 Veyron coupes when it went on sale, but later announced plans to produce additional 150 convertible models. All coupes and about 100 convertibles were sold, but there are now 40 Veyron Grand Sports that the company is trying to sell as soon as possible. The company executives have said that there won't be a new Bugatti until all the current ones find a buyer.

To solve the issue, the company has put together four regional events around the U.S. this year, offering test-drives of the 1,200-horsepower Vitesse convertible, both on open roads and a closed airport runway.

In an interview with Bloomberg, John Hill, Bugatti sales director for the Americas said that "the Dynamic Drive Experience is attracting individuals who haven't been exposed to our brand before, other than possibly reading about it. We bring the car to a location near them."

The specifications of the Veyron Vitesse, the world's fastest open-top car at 254 miles per hour, are outstanding, but the wealthy now have other supercars to consider, like Pagani Huayra, Koenigsegg Agera or the trio of all-new hybrid supercars: McLaren P1, Ferrari LaFerrari and the Porsche 918 Spyder. Both the $1.4 million LaFerrari, and the $1.15 million McLaren P1 are already sold out, according to the respective companies.

While the Veyron represented the height of the automotive engineering in 2006, the next evolution of supercar technology has arrived and probably surpassed it.

Asked by Bloomberg why anyone would buy their cars now, John Hill said that the majority of individuals who purchase a Veyron are big collectors.

"They don't tend to buy one car versus another - they collect all of the great cars. Someone may buy the latest Ferrari or McLaren, but if they're not already an owner of Bugatti, they tend to buy Bugatti as well. It's not an either-or discussion."

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