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Weekly Recap: Geneva's splendor reflects growing demand for ultra-luxury cars

Geneva is one of the most glittering auto shows in the world, but the list of high-powered and bespoke luxury cars was decadent this year even by the rich standards of the Swiss exhibition. It's great for enthusiasts to revel in the flame-throwing Aston Martin Vulcan, the racing-inspired elegance of the Bentley EXP 10 Speed 6 concept and the insane performance of the Lamborghini Aventador LP 750-4 Superveloce, but there's a reason for all of this opulence: the luxury market is big business. And it's growing. IHS Automotive forecasts that so-called ultra-premium sales will nearly triple this decade from 123,000 to 353,000 units around the world. The estimate includes brands like Aston Martin, Bentley, Ferrari and Rolls-Royce, but doesn't count BMW, Mercedes and Audi, which offer less expensive models in addition to their high-end flagships. Though IHS includes Porsche and its relatively large volume in the study, the ultra-premium segment is still set grow at about the same rate, even without the German automaker's figures. So what is propelling all of this growth in the most expensive segment of the auto industry? Put simply, there's more rich people. IHS Automotive principal analyst Tim Urquhart pointed to economic expansion in China, market recovery in the United States and a surge in the lucrative technology sector as contributing factors. This dovetails with a research report by UK-based Oxfam, an international relief organization, which found the world's richest one-percent owned 48 percent of global wealth in 2014, and it's expected to increase to more than 50 percent by 2016. View 17 Photos Carmakers are moving quickly to capitalize with new products, expanding their portfolios with low-volume speedsters like the 800-hp V12 Vulcan at Geneva, and plans to enter new segments, like Rolls-Royce's strategy to make an SUV. "Ultra-premium carmakers are looking to explore ways of growing their product offerings, and thus their bottom lines, in this most potentially profitable of segments," Urquhart wrote in a report on the Geneva show. In a nutshell, there are more choices for people with more money. It's a good time to have expensive taste. Other News & Notes 2016 Mazda MX-5 Miata production launches It won't be long now. The 2016 Mazda MX-5 Miata arrives later this year, and it's officially in production. Mazda announced this week that the roadster began rolling off the assembly line at its Ujina factory in Hiroshima, Japan.

Aston Martin says Alabama is 'obvious choice' for US plant

Aston Martin is gearing up to be the next foreign automaker to build an assembly plant in the United States – and it looks like it'll be in Alabama. Speaking with Automotive News Europe, company CEO Andy Palmer said that he and his team will make a decision on the prospect of building its second factory, and that the Yellowhammer State was the "obvious choice" for its location. The possibility first came up on our radar last month, after Aston reportedly held discussions with representatives of state governments in the South. The plant would be earmarked to handle production of the DBX. Slated to be the company's first crossover, it was previewed in concept form at the Geneva show in March. "Our principal customers will be in the United States and China," Palmer said to ANE. However, the US would apparently be preferable to building a plant in China, from which it would be more difficult to export vehicles to other markets and where Aston would need to form a joint venture with a local manufacturer. The prospect of building its plant in the same state where Mercedes builds its SUVs would offer certain advantages as well: Aston has inked a deal with the German automaker to supply some systems and components. The British automaker has also long-been rumored to be considering building a crossover based on the same platform as the GL-Class (soon to be redubbed GLS), although that may or may not take the form of the DBX. Aston Martin is working toward ramping up production from the 4,000 units it sold last year to as many as 15,000. "If we went to three shifts" at the current plant in Gaydon, said Palmer, "we would be at 15,000 a year, so theoretically we could do it but you'd have no room for stoppage for maintenance. Related Video:

Alfa Romeo 8C and GTV: Classic names revived as high-powered hybrids

BOLOCCO, Italy — There were grand plans for Alfa Romeo at FCA's last five-year plan. By 2018, we were supposed to get eight new products, including a new "specialty" vehicle. In reality, we've gotten the Giulia and Stelvio. At this year's follow-up, Alfa Romeo brand head Tim Kuniskis called the last plan ambitious, but he offered a new vision that was both more realistic and more far-reaching. Beyond doubling down on utility and electrified vehicles, by 2022 Alfa has plans to revive both the 8C and GTV names as high-performance hybrids. Since 2014, Alfa sales are up 160 percent, with an estimated 170,000 vehicles to be sold in 2018. The North American market counts for 16 percent of that, up from nothing back in 2013. Future products will focus on Alfa's current strengths: styling and performance. Look for new compact and full-size utility vehicles to slot on each side of the Stelvio. Plans for a larger sedan seemed to have been nixed, though a long-wheelbase version of the Giulia will make it to the ever-increasing Chinese market. The most exciting news obviously comes from the return of the 8C supercar and GTV sports car. We have few details, but what we do know looks promising. The 8C will use a carbon-fiber chassis with a mid-mounted twin-turbo V6. More than 700 horsepower will be sent to all four wheels thanks to an electrically-driven front axle. The car should hit 62 mph in fewer than 3 seconds. The GTV will be slightly more tame, though Alfa is promising more than 600 horsepower from its hybrid powertrain. The four-seater will also have all-wheel drive, torque vectoring and a 50/50 weight distribution. The brief teaser image shows a car that looks like a two-door Giulia, though it's unclear if we'll actually get a new coupe. Electrification, autonomy and connectivity are coming, too. Obviously, the 8C and GTV will get electrified powertrains, but look for each Alfa Romeo model to have some sort of electrification available. Look for six plug-in hybrids with all-electric ranges of more than 30 miles. Level 2 and 3 autonomous systems are coming, too. Related Video: Design/Style Earnings/Financials Green Alfa Romeo Aston Martin Coupe Crossover SUV Hybrid Luxury Performance Supercars FCA alfa romeo 8c