This $19 million custom Bugatti is now the most expensive new car ever sold

• Bugatti unveiled a one-of-a-kind hypercar called La Voiture Noire at the 2019 Geneva Motor Show on Tuesday.
• The custom-built hypercar was created to commemorate Bugatti's110th birthday.
• At $18.89 million, it's the most expensive new car ever sold.
• La Voiture Noire is powered by a 1,480 horsepower, 8.0-liter, quad-turbocharged, W16 engine.

On Tuesday, Bugatti unveiled its latest creation at the 2019 Geneva Motor Show. It's a one-of-a-kind custom-built hypercar called La Voiture Noire.

It was created to commemorate the 110th anniversary of the brand's founding.

At $18.89 million, it's also now the most expensive new car sold eclipsing the record set by the $13 million Rolls-Royce Boat Tail in 2017.

"Bugatti arouses passion and emotions throughout the world," company president Stephan Winkelmann said in a statement. "Customers expect us to continually surprise them and to raise the goalposts beyond the limits of their imagination. We have just succeeded in doing so with 'La Voiture Noire.'"

Read more: Bugatti boss reveals what kind of people buy its $3 million hypercars.

La Voiture Noire, French for the black car, is an homage to a Type 57 SC Atlantic of the same name designed by Jean Bugatti, the son of company founder Ettore Bugatti, in the late 1930s.

The company did not identify the car's buyer, only saying it was purchased by a Bugatti enthusiast who was fascinated by the original Type 57 La Voiture Noire.

Power for La Voiture Noire comes from Bugatti's now world-famous 8.0-liter, quad-turbo W16 engines. Here, it produces 1480 horsepower.

Read more: 18 hot cars we can't wait to see at the 2019 Geneva Motor Show.

Aesthetically, the front end of the hypercar is dominated by Bugatti's iconic horseshoe grille while its rear end is highlighted by six exhaust outlets and a continuous LED tail light bar.

According to Bugatti designer Etienne Salome, every component of the car is handcrafted while its body is made of exquisitely finished carbon fiber.