The $3 million Bugatti Chiron just set a new speed record

We all know the Bugatti Chiron is capable of some truly incredible performance. Business Insider recently had the chance to drive to a Chiron and can confirm that a 0-120 mph run for the Bugatti is about as effortless as a jog over to McDonald's for some McNuggets would be for Usain Bolt. Needless to say, there are a few more gears left to explore.

On Monday, Bugatti once again demonstrated the awesome capabilities of its newest car with a record setting run that saw the Chiron accelerate from a standstill to 400 kph (249 mph) and then come to a stop in just 41.96 seconds.

In the process, the Chiron became the fastest production vehicle to ever complete this type of run.

Bugatti conducted the test in August with former Formula One, IndyCar, and NASCAR star Juan Pablo Montoya at the controls of the $3 million, 1,500 horsepower beast. (Our Chiron test car had about $500,000 worth of options which pushed the price up to $3.5 million.)

According to Bugatti, Montoya needed just 32.6 seconds and a little over 1.6 miles to get the Chiron up to 249 mph. Another 9.3 seconds and 1,600 feet later, the Bugatti was back at a standstill. In total, the Chiron's 0-249-0 run required just a tad over 10,000 feet of real estate.

The Bugatti Chiron is powered by an 8.0 liter, 1,500 horsepower quad-turbo W-16 engine hooked up to a seven-speed twin-clutch gearbox and all-wheel-drive.

The Chiron has an electronically limited top speed of 261 mph. Bugatti hasn't yet unleashed the car on the outright speed record of 267 mph that's currently held by its predecessor, the Veyron Super Sports. But that will likely change at some point.

According to the company, Bugatti and Montoya wanted to make the record-setting run under real world conditions. Hence the jeans.

Apart from the timing equipment, the Chiron used for the test looks to be virtually stock.

The Chiron's innovative two-stage turbocharging system virtually eliminates turbo lag and deliver peak torque across a wide portion of its power band.

According to Bugatti, the force generated by the Chiron's braking system while stopping from 249 mph is similar to those experienced during the launch of the space shuttle.

According to Dürheimer (right), 300 of the 500 Chirons Bugatti plans to build over the next 10 years have already been sold.