Development continued throughout 2001 and the EB 16/4 Veyron was promoted to "advanced concept" status. In late 2001, Bugatti announced that the car, officially called the "Bugatti Veyron 16.4", would go into production in 2003. The car, however, experienced significant problems during development. Achieving the required high-speed stability was difficult - one prototype was destroyed in a crash and another spun out during a public demonstration at the Monterey Historics event in Mazda Raceway at Laguna Seca. Production of the Veyron was delayed pending resolution of these and other issues. Piëch retired that year as chairman of the Volkswagen Group and was replaced by Bernd Pischetsrieder. The new chairman promptly sent the Veyron back to the drawing board for major revisions. Neumann was replaced as Bugatti president by Thomas Bscher in December 2003, and substantial modifications were made to the Veyron under the guidance of former VW engineer, Bugatti Engineering head Wolfgang Schreiber.
Each Veyron is being sold for 1,100,000. Prices for the UK or the US are about over £800,000, or 1.2 million American dollars. The production costs of the car are approximately £4 million per vehicle. As Bugatti and, therefore, Volkswagen are taking such a loss, it has been compared by automotive journalist Jeremy Clarkson to the supersonic jetliner Concorde in that both were huge engineering achievements, but the car will probably, like the plane before it, be discontinued after proving to be an economic failure. It will be several years before Volkswagen will be able to see if their investment in developing ground-breaking technology has paid off. One key measure is how much (if any) of the technology developed for the Veyron finds use in mass-produced cars.Source: Wikipedia.