Company is investigating methods for funding the new model, although it's not clear when the new car might appear.
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Bugatti is reportedly keen on a more affordable and practical model for its range, which currently only consists of the Chiron and its many limited edition derivatives.

Stephan Winkelmann, Bugatti's CEO, has told Bloomberg the company wants to add a second model to its range.

According to the Bugatti boss, the new car would be a four-seat model with the ability to do some off-road driving or, basically, a crossover.

Winkelmann ruled out an electric version of the Chiron declaring there's "still a lot of time for internal combustion engines".

He did admit if Bugatti introduced a less expensive and more usable vehicle, it would likely feature a hybrid drivetrain of some description. Pricing for the new model will likely be around the US$1 million ($1.5 million) mark.

Quite how Bugatti will fund a new model line to complement the megabucks Chiron is unclear. Winkelmann said the super-luxury car maker was looking at "sexy" finance options to help kickstart development of the car.

Despite growing economic headwinds, demand for Bugatti's vehicles remain strong, with almost all of the 30 US$3.9 million ($5.7 million) Chiron Super Sport 300+ models spoken for.