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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.

Sunday Drive: Trucks and SUVs of all shapes and sizes

The American automotive marketplace is dominated by trucks and SUVs, and so was the last week of coverage on Autoblog. By far, the most popular story of the week was our First Drive of the 2018 Lincoln Navigator. It may look like an old-school lumberer, but in reality Lincoln's flagship is a thoroughly modern, turbocharged-V6-powered, three-row, luxury people mover. The Jeep Wrangler is the world's most recognizable vehicle. So it's no surprise that the next version looks a whole heck of a lot like the last one, and the one before. It's all in the details, which is why we were so excited when Jeep decided to unleash a trio of images showing both two- and four-door Wranglers for us to dissect ahead of the SUV's official debut at the L.A. Auto Show later this year. Past that, spy photos of the next Chevy Silverado and Ram 1500 were predictably popular. See both of those below, and the cap it all off, check out the entire week's worth of SEMA coverage – including the bonkers Hennessey VelociRaptor 6x6 – in our mega image gallery at the bottom of this post. Enjoy! As always, tune in to Autoblog next week for a front-row seat to all the happenings worth following in the automotive industry. 2018 Lincoln Navigator First Drive | From black sheep to flagship 2018 Jeep Wrangler revealed: First photos released before L.A. Auto Show debut 2019 Chevy Silverado looks slim and clean beneath the camo 2019 Ram 1500 gets vertical touchscreen infotainment system 2017 SEMA Show Mega Photo Gallery Chevrolet Jeep Lincoln RAM Truck SUV recap sunday drive

GM laying off 500 workers to slow Chevy Sonic production

Due to slow sales of the Chevrolet Sonic and Buick Verano, General Motors is cutting a shift at the Orion Township plant that builds the pair. The move lays off about 500 workers, but most of them are expected to get offers to transfer to other factories, Automotive News reports. The move came just a day after GM announced adding 1,200 employees to the Detroit-Hamtramck plant. GM has been trying all year at the Orion Township factory to align production of the Sonic and Verano with their demand. The automaker first attempted idling the plant several times and eventually resorted to laying off about 100 workers. It also reduced the production rate there. With the huge rise in popularity of crossovers, demand for the plant's small cars is on the downturn. According to Automotive News, there's currently a 116-day supply of Sonics and 100 days of Veranos to sell. Delivers tell a similar tale because the Chevy is off 35.2 percent from January to September, and the Buick does little better with a 27.2 percent drop from the same period last year. While the situation at Orion Township might look rough now, big things are on the horizon. Soon, the new Chevy Bolt electric vehicle will be built there when it hits the market around 2017. Plus, the plant will also get a $245-million upgrade and 300 new jobs for another, unannounced vehicle.