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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.

Lamborghini Aventador SV Roadster spied testing undisguised

Lamborghini typically does more versions of its V10 models than it does with its V12s. Just look at how many model variants the Gallardo spun off over its many years of production, compared to the few the Murcielago did. But with both now retired, and the Aventador on the market longer than the Huracan, it's the larger of the two that's beefing up the Raging Bull's product portfolio. We're looking at and referring to the upcoming Aventador SV Roadster. Lambo has already confirmed that the Superveloce Roadster was in the works, and we even saw a heavily camouflaged prototype undergoing testing near the Arctic Circle. But this time it's completely undisguised, without a shred of camouflage to keep it from our prying eyes. It isn't hard to guess at the technical details here, since it combines the best attributes of two existing versions: namely the LP 700-4 Roadster and the LP 750-4 Superveloce. So look for a 6.5-liter V12 channeling 740 horsepower to all four wheels through the company's proprietary seven-speed ISR transmission, just like the SV coupe. It'll be a bit heavier with its removable carbon-fiber roof panel and the requisite extra bracing, but it's doubtful the slight weight penalty will actually translate to any substantial drop in performance. Noticeably absent, however, is the big rear wing that adorns the back of the SV coupe. We'll have to hold tight to find out if the production version will get the spoiler or not, and there's little precedent to go by here since Lambo has never really offered a convertible Superveloce before. With the wing or without, the Lamborghini Aventador LP 750-4 Superveloce Roadster will likely debut at the Frankfurt Motor Show come September, with production already confirmed to be limited to 500 units – or 100 less than the existing coupe that's already sold out.

Valet Crashes Lamborghini Outside Of Hotel

Security cameras were rolling as a valet at a swanky hotel in India crashed a Lamborghini Gallardo while trying to pull forward into a crowded driveway. In the video, the $187,000 supercar lurches forward and hits several cars and a hotel worker before careening into a wall. The hotel worker was taken to the hospital for minor injuries and released the same day, according to The Telegraph. Police are investigating the crash to determine if the hotel or the valet owes the car's owner damages. This seems like an egregious error in judgement, but valets are people too and they make mistakes. Earlier this year, a valet forgot to put the parking brake on a vehicle, which allowed it to roll into the ocean. Another valet accidentally allowed an SUV to roll down a ramp and into a wall in a parking garage. Related Gallery These Pricey Rides Are Among The Best Of The Best Weird Car News Lamborghini Safety valet