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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.

REWIND: Watch the GMC Hummer EV live reveal right here

It has been a long wait to see the GMC Hummer electric pickup truck, which was teased way back at the Super Bowl in February of this year. And that wait ends tonight at 8 p.m. eastern time when GM pulls the covers off the truck. You can see the whole reveal right here, or during the World Series on Fox or "The Voice" on NBC. For everything we know about the truck, go to our reveal post here. The truck should be impressive. GMC has previously announced it will have up to 1,000 horsepower, and it will have a variety of fun features such as removable roof panels and four-wheel steering that can move the truck sort of sideways with "Crab Mode." The GMC Hummer will also be available in pickup and SUV forms. So be sure to tune in tonight for one of the biggest (figuratively and literally) vehicle reveals of the year. And keep an eye on Autoblog for all the latest on the Hummer and other vehicles.

GMC teases rugged 2021 Canyon AT4 pickup

GMC promised every model in its lineup would get the AT4 treatment by 2021. Having introduced AT4 versions of the Sierra, Acadia and Sierra HD already, that leaves the Canyon, Terrain and Yukon waiting their turn for the procedure. During a press even for the Sierra HD in Jackson Hole, Wyoming, GMC teased Canyon AT4 as next in line to receive upgraded off-road chops. The automaker had a camo'ed prototype Canyon AT4 in a trailer hooked up to a Sierra HD. When Sierra occupants pulled up the feed from the trailer-mounted camera on the infotainment screen, said occupants got a view of the masked midsize pickup between two walls reading, "The first ever Canyon AT4" and "Coming early 2020." The main mysteries are how extensive the pickup's AT4 transformation will be, and when it will go on sale. The AT4 kit changes depending on model. The Sierra AT4 upgraded performance and looks, with features like a two-speed transfer case, locking rear differential, a two-inch lift and Rancho monotube shock absorbers, skid plating, black-chrome grille and body-colored grill surround. The 2020 Acadia AT4 is mostly about looks, pairing standard all-wheel drive with black trim and wheels, and all-terrain tires. The Canyon's expected to weigh in on the Sierra end of the overhaul, and slide into the lineup between the SLT and top-tier Denali trims. The mods will put it beyond the current All Terrain trim being phased out across the lineup, but leave space between the Canyon AT4 and its Chevrolet sibling, the Colorado ZR2. GMC VP Duncan Aldred said, "They’re going to have different capability levels. The ZR2 is extreme capability. AT4 isnÂ’t positioned as extremeÂ… not intended to rival the ZR2." And the Colorado gets the even chunkier Bison version on top of that. The Canyon AT4 is predicted to join the lineup for the 2021 model year, so although it's "coming early 2020," it might not go on sale until much later in the year. GM's midsized pickup twins will be endowed with changes so mild that neither brand will classify the work with the term "midcycle enhancement." Figure a refining around the grille and lights and a few minor fillips otherwise. Next-generation models of the Canyon and Colorado aren't due until 2023, and there's apparently debate inside GM about an interior refresh for both trucks before then. The Terrain should mirror changes to the Acadia, and it would be a pleasant surprise to see the all-new Yukon also due in early 2020 get serious off-road teeth.