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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.

NHTSA, IIHS, and 20 automakers to make auto braking standard by 2022

The National Highway Traffic Safety Administration, the Insurance Institute for Highway Safety and virtually every automaker in the US domestic market have announced a pact to make automatic emergency braking standard by 2022. Here's the full rundown of companies involved: BMW, Fiat Chrysler Automobiles, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volkswagen, and Volvo (not to mention the brands that fall under each automaker's respective umbrella). Like we reported yesterday, AEB will be as ubiquitous in the future as traction and stability control are today. But the thing to note here is that this is not a governmental mandate. It's truly an agreement between automakers and the government, a fact that NHTSA claims will lead to widespread adoption three years sooner than a formal rule. That fact in itself should prevent up to 28,000 crashes and 12,000 injuries. The agreement will come into effect in two waves. For the majority of vehicles on the road – those with gross vehicle weights below 8,500 pounds – AEB will need to be standard equipment by September 1, 2022. Vehicles between 8,501 and 10,000 pounds will have an extra three years to offer AEB. "It's an exciting time for vehicle safety. By proactively making emergency braking systems standard equipment on their vehicles, these 20 automakers will help prevent thousands of crashes and save lives," said Secretary of Transportation Anthony Foxx said in an official statement. "It's a win for safety and a win for consumers." Read on for the official press release from NHTSA. Related Video: U.S. DOT and IIHS announce historic commitment of 20 automakers to make automatic emergency braking standard on new vehicles McLEAN, Va. – The U.S. Department of Transportation's National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety announced today a historic commitment by 20 automakers representing more than 99 percent of the U.S. auto market to make automatic emergency braking a standard feature on virtually all new cars no later than NHTSA's 2022 reporting year, which begins Sept 1, 2022. Automakers making the commitment are Audi, BMW, FCA US LLC, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Maserati, Mazda, Mercedes-Benz, Mitsubishi Motors, Nissan, Porsche, Subaru, Tesla Motors Inc., Toyota, Volkswagen and Volvo Car USA.

Driving the 2020 Bentley Continental GT V8 'home' to Brooklands

BROOKLANDS, England – ‘Continental GTÂ’ embodies an idealized dream of carefree, trans-continental drives to the French Riviera or glamorous Swiss ski resorts. In reality and spirit, a long, long way from a gray January day in what is now a grocery store parking lot in a nondescript London suburb. But this place, or specifically the moss-covered concrete banking surrounding it, is as important to BentleyÂ’s identity as 1930s playboys racing express trains across France, amateur heroes triumphing at Le Mans or the image of luxurious sedans crunching the gravel driveways of stately English homes. In the modern age of Bentley, the racing history at Brooklands, and its expression through hardware supplied by its Volkswagen owners, is what underpins the brand. IÂ’ve got 1,000 miles at the wheel of the latest V8 Continental GT to find out if that Brooklands tradition has been carried forth; to see if this Bentley is still a Bentley. ItÂ’s an interesting moment to be driving a Continental GT, too. For all the British heritage this car embodies, it's dependent on the centralized resources and manufacturing muscle of parent Volkswagen. The same goes for the Group's other brands defined by tradition and local price: Lamborghini, Porsche and even Audi. Yet, IÂ’m enjoying this car just days before Britain formally quits the European Union. The implications are still to be fully understood but it puts Bentley in an especially perilous position, given it depends on overseas production and the free movement of parts from the continent to keep its factory running. Sure, Bentleys are meant to be expensive. But if that margin is suddenly consumed by tariffs on bodies from Volkswagen, engines from Porsche and gearboxes from ZF, the business case looks even shakier than it has been  in the recent past. Nobody knows how itÂ’ll shake out but one answer for VW would be to relocate the whole business to Germany rather than keep building them here. YouÂ’d still have cars branded as Bentleys if that happened. But would they still be Bentleys? We talk about intellectual property. Arguably here weÂ’re talking about emotional property. And the Englishness that makes the cars what they are.   Because more than anything, a Bentley is a feelgood car, even when your reality is grimy winter roads and a coating of salt on your fancy paint.