What Festival of Speed would be complete without a star turn from the 253mph Bugatti Veyron? You’ve heard all about it, you’ve seen it on the timesonline website, you’ve read about its incredible 1001bhp, but this is the first time the Veyron will be put through its paces in public.

Spectators at Goodwood will be able to see the car up close in the Sunday Times Driving Supercar Paddock before its massive W16 engine is fired up and it joins rivals such as the Ferrari 599 and Lamborghini Murciélago on the famous hillclimb. And who will be the lucky driver behind the wheel? Step forward festival host Lord March.

There had been suggestions a future GT version of the Bugatti might be even faster (272mph) but Thomas Bscher, the company’s chief executive, last week dismissed the rumours. Instead, Bscher is focusing on speeding up production of the €1.1m (£757,750) car following a flood of orders from wealthy enthusiasts.

“Demand has massively outstripped expectations,” said Bscher. “People drive the car and they want to own it. “Waiting times now run almost until the end of 2007 so we want to increase production from 50 cars a year to 70.”

Even a £69,000 price increase, introduced in April to help VW, which owns Bugatti, claw back some of the massive costs of developing the supercar, has not dented demand.

There are now 18 Veyrons on the road, although Bscher remains tight-lipped about the owners. The Sunday Times has revealed the only known names. The first customer was the wife of Ferdinand Piëch, former VW chairman, who requested chassis number 007. Ralph Lauren, the fashion designer, bought one in black, and Bob Manoukian, who has a family fortune of £300m, dodged the waiting list by buying his Veyron for £1.1m at a charity auction in London last month. Bugatti plans to expand its line-up to include a second model, possibly a four-door saloon inspired by its 1930s Royale, by 2010.

So does Bscher’s job entitle him to a Veyron as a company car? He probably deserves it. Having been parachuted into Bugatti at a time when many thought the Veyron would be an embarrassing failure, he rescued the struggling project. Naturally he was one of the first on the waiting list but ceded his place to a succession of buyers. After a long wait, he is due to get his own Veyron in September. “I hope!” he sighs wistfully.