Following an interview with Dutch site autotelegraaf Dr.. Franz-Josef Paefgen, CEO of Bugatti has confirmed the new model will be coming in either 2011 or 2012.

The current Bugatti Veyron will only have a production run of 300 units and with 230 of these already spoken for, we can expect a successor to be well into its planning stages by now. Following an interview with Dutch site autotelegraaf Dr.. Franz-Josef Paefgen, CEO of Bugatti has confirmed the new model will be coming in either 2011 or 2012.

Details of the successor are still very scarce, but it will definitely follow in the Veyron's footsteps and there will be no radical change of direction from the historical brand. This clearly leaves a great deal of speculation open, the original Veyron is an engineering masterpiece with its 987hp 8.0-liter quad-turbocharged W16 engine and politics demands a meaner machine for the next generation.

Recent rumours have pointed towards a targa version featuring a detachable roof and even a four-door sedan variant, but maintaining the Veyron's awesome performance is unlikely to be achievable with the weight and aerodynamic disadvantages of either of these

Bugatti's balance sheet is expected to finally return to a profit in 2010 and Paegen admitted this could then lead to a venture into the world of motorsport – although he is quick to point out it would not be with a Veyron based sports car.

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Bugatti Veyron Successor to Arrive by 2012