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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.

Next Chevrolet Malibu to have 'groundbreaking,' 'passionate' design

In our First Drive of the Chevrolet Malibu after its redesign in 2013 we wrote, "Chevy has quickly worked up a host of changes for its ever-important midsize sedan, and will be launching this 'there, we fixed it' 2014 Malibu like it's an all-new product." Still, no one cared. The Malibu has been mentioned in eight posts this year, all but two of them dealt with recalls, and one of those two was about a 2011 Malibu university science project. It came up in precisely zero posts from November 2013 to March 2014. That's why, according to a report in Automotive News, Chevrolet honchos are "hustling" to have a new Malibu ready in a year. Mark Reuss, General Motors' head of global product development, said it will have "groundbreaking design" and "groundbreaking technology," and asked investors who were showed a picture of it, "When is the last time you saw a [midsize] car this distinctive and this dramatic from General Motors?" Doubling down on the bullishness, Reuss said, "We've got our act together here on the midsize-car segment." Then, throwing every last chip on the pile, global design head Ed Welburn said the next Malibu's design will "make a significant statement" with "a very passionate design." Based on the number of comments Malibu posts get, we figure a fair few number of you would love for this to be the case; yet this is a lot of braggadocio to slather on a car that probably hasn't made "a significant statement" since Elton John had a number one record with Honky Chateau. That was 1972, if you're trying to remember. No matter the looks, the AN report says the new 'Bu will make a profit statement, selling for more money while costing less to produce. Alongside the Cruze, GM figures the pair will bring in an extra $800 million in variable profit in 2016. Which, in case it ends up being another 'butterface,' isn't bad for a silver lining. Featured Gallery 2014 Chevrolet Malibu: First Drive View 36 Photos News Source: Automotive New - sub. req. Design/Style Chevrolet GM Sedan

This 450-hp electric Lotus Evora is powered by Tesla and Chevrolet

When someone mentions an electric Lotus, the first thing that comes to mind is the Tesla Roadster, the California-based automaker's first vehicle. That car started life as an Elise before being heavily massaged and adapted by Tesla's engineers. In a similar spirit, the people at Onpoint Dyno are close to finishing Blue Lightning, a track-ready all-electric Lotus Evora. Blue Lightning uses a Tesla drive unit and a Chevrolet Volt battery pack, both mounted in the middle in place of the Evora's 3.5-liter Toyota V6. It's putting down about 450 horsepower at the wheels. The car was built for time attack sessions, so power is fed through custom forged wheels and super sticky Pirelli PZero Trofeo R tires, the same ones found on the last Chevrolet Camaro Z/28. There is a custom digital instrument cluster in place of the Lotus gauges. There's also a regen paddle on the left side of the steering wheel. With a full charge, Blue Lighting should go about 120 miles. While the car runs under its own power, it's only about 90 percent complete. It has no power steering, no firewall in between the seats and the motor and battery pack, no A/C, and a large hole where the shift lever used to be. Other final touches include fine-tuning the brakes and suspension. There is also a custom rear bumper coming that should make it look more like the new Lotus Evora 400. Onpoint Dyno expects the car to hit the track in the next month or so. Related Video: