Car parts made of carbon fiber have been used for decades in $1-million-plus European supercars, from the likes of Ferrari and McLaren. But for the first time, a handful of 2016 models sold in neighborhood car dealerships will feature ultralight yet expensive carbon fiber materials. The new BMW 7-series sedan, which starts at about $80,000, as well as the similarly priced Alfa Romeo 4C and Chevrolet Corvette Z06 sports cars, use carbon fiber elements.

But don't let this fool you into thinking that carbon fiber cars are on the cusp of the mainstream. While the cost of carbon fiber materials and production has declined in recent decades, it remains prohibitive for anything but limited applications in niche vehicles. Though rising fuel efficiency standards have undeniably motivated the auto industry to pursue the technology, it's only going into production when carmakers believe the material can bring some supercar-style appeal to an expensive model.

Carbon fiber is a flexible fabric-like material that, when combined with a polymer, can be molded into the shape of a car part that is stronger and lighter than today's steel and aluminum parts. The higher cost is based on the fiber material itself, as well as longer production times. Metal parts can be stamped in seconds, but it can take several minutes for a carbon fiber part to be molded and cured.