Carbon fiber is up to five times as strong as steel, twice as stiff, and one-third the weight, which is why it has been widely used in aerospace applications and in the construction of racing cars.
Production models make use of this material as well; that is, if you consider a McLaren MP4-12C, a Pagani Huayra or a Ferrari Enzo a regular “production car". Carbon fiber is very expensive and takes a lot of time to produce, but those companies can afford to price their products accordingly.
The problem is that, so far, no manufacturer or supplier has managed to reduce its cost to a level that would make it suitable for regular, mass production vehicles.
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