Bugatti, Volkswagen AG’s supercar brand, and Fiat S.p.A.’s Ferrari have sold out of their most-expensive models as demand for luxury vehicles roars back.

All five of Bugatti’s $2.7-million World Record, the globe’s fastest serial-production car, have been reserved. Chief Executive Officer Franz-Josef Paefgen showed the car, which has a top speed of 258 miles per hour, at the Paris Auto Show this week.

“The reports of luxury’s death have been greatly exaggerated,” said Rebecca Lindland, an analyst at IHS Automotive in Lexington, Mass. “People still want those luxury vehicles. Once you’re in luxury, it’s awfully hard to get out of it.”

Buyers hoping to purchase the Ferrari SA Aperta are also out of luck. Ferrari isn’t making any more of the 80 SA Apertas that it’s already sold. The model costs $552,000 and was built to honor car designers Sergio and Andrea Pininfarina.

“We are sorry for many Ferrari collectors, but we cannot do more,” said Ferrari’s chairman, Luca Cordero di Montezemolo, in an interview in Paris yesterday. Ferrari is predicting double-digit growth in earnings and may end 2010 with close to record profit, he said.