Bugatti Unveils 'Fastest, Most Luxurious Production Car In The World'

SAN FRANCISCO (CBS SF) -- French automaker Bugatti unveiled its latest supercar at the Geneva International Motor show Monday -- the Chiron -- dubbing it "the most powerful, fastest, most luxurious and most exclusive production super sports car in the world."

The Chiron replaces the Veyron, introduced in back in 2005 as the world's fastest production car.

So what does that mean?

It means 1,500 horsepower and 260 mph (420 km/h) in Top Speed mode, which has been "limited for road use." Those numbers not only beat the Veyron, they set a new industry standard.

Company president, Wolfgang Dürheimer says the "Bugatti has tested the limits of physics" this time.

The price tag? $2.6 million.

Only 500 of these beasts will be produced and according to the manufacturer, there are already advance orders for a third of them.

The first Bugatti Chiron is slated for delivery in August.

CBSSF.com writer, producer Jan Mabry is also executive producer and host of The Bronze Report. She lives in Northern California. Follow her on Twitter @janmabr.