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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.

Nissan Leaf ends 2013 with best sales month ever, but can't catch Chevy Volt

Nissan and Chevrolet both ended 2013 with solid sales figures for their plug-in vehicles, the first two that were released (all the way back at the end of 2010) from major automakers. As has been the story for most of 2013, December sales for the Nissan Leaf and the Chevy Volt were roughly the same. When we left the year-to-date running tally at the end of November, the Volt was at 20,702, while the Leaf was at 20,080. As you can tell from the image above (if you've been noticing the trend in these EV sales monthly flash-reports), the Leaf outsold the Volt, but was it enough to put the Nissan on top for the year? In 2013, Nissan sold 22,610 Leafs, more than twice as many as in 2012. Almost. The Leaf made a valiant attempt, and did have its best month ever with 2,529 units sold. That means that for 2013, Nissan moved a total of 22,610 Leafs, more than twice as many as in 2012 (that year, Nissan sold only 9,819 Leafs in the US) and actually more than 2012 and 2011 Leaf sales combined (which was 19,493). Nissan continues to see the effects of its price drop and expanded sales areas, with Georgia rapidly becoming a Leaf hotbed. Nissan's Paige Presley said that Atlanta was once again the Leaf's number one market and that, "sales are expanding deeper into Georgia markets such as Macon and Columbus." The Volt saw a boost upwards from a November slump and sold 2,392 units in December. That puts the plug-in hybrid's annual total at 23,094, just down from the 23,461 sold in 2012. For all of 2013, though, the Volt outsold the Leaf by 484 vehicles. In a competition like this, we'll count that as a win for both sides. We will our more detailed monthly green car sales report, which covers more of the fuel efficient vehicles on the market, up soon. News Source: GM, Nissan Green Chevrolet Nissan Electric Hybrid PHEV ev sales hybrid sales

Recharge Wrap-up: U of M wins Solar Challenge, family attempts record-breaking e-bike ride

The University of Michigan Solar Car Team has won the 2014 American Solar Challenge. It is the team's eighth national championship, its fifth in a row, and its first using Siemens' product lifecycle management (PLM) software. The race took place over 1,722 miles and seven days traveling across eight states. The team's car, called "Quantum," outpaced the nearest competitor by four hours. Looking forward, Michigan Solar Car Project Manager Pavan Naik says, "The switch to Siemens tools will give us the ability to model and simulate everything and truly allow us to optimize the performance of our new vehicle. As we start on our quest to win the World Solar Challenge in 2015, we'll be leveraging a full complement of PLM solutions." Read more in the press release below. The EcoCar3 competition, in which teams will convert Chevrolet Camaros into hybrid electric cars, begins in September. The various college teams will have four years to lessen the car's environmental impact as much as possible while maintaining performance and, of course, that cool Camaro design. EcoCar3, which is put on by the US Department of Energy and General Motors, kicks off with a workshop in Novi, Michigan from September 16 - 18. Read more at the DOE website at the dedicated EcoCar3 site or watch the announcement video at our previous post. Zap and Jonway Auto are shifting to a high rate of EV production. Zap already has two lines creating the Urbee EV to met demand, and is switching over a third to make electric minivans and SUVs. The company aims to produce 30,000 EVs by 2015 for the Chinese market. Zap says it has a backlog of 25,000 Urbee orders. Read more in the press release below. A family of four hopes to make a world record-breaking, 6,000-mile electric bike journey this fall. The family, which recently drove from Argentina to Montana in a pickup with a camper, will ride from Montana to Maine, then down the East Coast to Florida in an attempt to break the record for longest electric bicycle ride. They'll use two bikes. The Father, Thomas, will ride one of the bikes carrying one of the children, while the rest of the family rides in a support vehicle, with the mother, Dylan, riding the second bike when they can find others to drive. They have started a crowdfunding campaign for some of the equipment needed to document the trip. See the video below or read more at Treehugger.