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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.

2015 Chevrolet Cruze spied on its home turf

The next Chevrolet Cruze isn't set to go into production for about another year, and we're just now seeing prototypes of the new compact running around here in the States. Not much more has been revealed since we saw the car blasting through the snow in Europe, but we can still clearly see new design elements like the larger grille, slimmer headlamps and redesigned taillamps.
Our spy photographers worked up a composite image of this Cruze prototype alongside the current model, and here, we can clearly see some big visual changes are in store for the new model. The 2015 Cruze's hood slopes downward more dramatically, the windshield is more heavily raked, and the roofline looks more fluid overall. The next-generation Cruze will ride on the new global Delta platform that will also underpin other General Motors vehicles like the Chevrolet Volt and Equinox.
As for what's under the hood, we expect the normal range of gasoline four-cylinder engines (both naturally aspirated and turbocharged), and the compact's new turbodiesel four should carry over, as well. Have a look at the full brace of spy photos in the gallery above.

GM's European Opel division may eventually go all-electric

General Motors' Opel division in Europe may transform itself into an all-electric vehicle maker by 2030. Granted, a lot can happen between now and then, including a potential buyout by French automaker PSA Group. Regardless, Opel appears to view its electric future beyond the Ampera-e, which is the sister vehicle to the Chevrolet Bolt, and more like Tesla. Opel CEO Karl-Thomas Neumann indicated that focusing on electric drivetrains would be a superior strategy to expanding its EV technology while pushing forward with conventional drivetrains, says Automotive News Europe, citing comments Neumann made to German publication Manager Magazin. General Motors could make the decision to move towards an all-electric vehicle line for Opel as soon as May. Of course, that depends on whether Opel is bought out by PSA, the parent country to Peugeot and Citroen. PSA is in talks to buy General Motors' Opel and Vauxhall divisions, though government and labor representatives in Germany have expressed concerns over potential job losses from the proposed buyout, Reuters says. Regardless, GM has hinted at expanding its electric-vehicle line far beyond the Bolt, which has a 238-mile single-charge range and debuted late last year. Mary Barra, in an interview with CNET, said the Bolt's all-electric platform could be applied to a "huge range of vehicles," though wasn't specific about additional EV models. Opel first showed off its Ampera-e at the Paris Motor Show last fall. The name of the model raised some eyebrows because the Ampera badge had been previously used by Opel for the sister version of the Chevrolet Volt extended-range plug-in. Either way, Opel is looking to take on Renault for electric-vehicle sales supremacy across the Pond. Related Video: