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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.

Aston Martin will call the AM-RB 003 the Valhalla

Aston Martin has announced the proper name of its upcoming "AM-RB 003" hypercar: It will be called the Valhalla. The name continues the tradition of Aston Martin model names beginning with the letter V, and it ties neatly into Norse mythology. As Aston Martin CEO Andy Palmer said: "In following the Valkyrie, we knew the Aston Martin Valhalla needed to make a strong statement of its own, yet also offer continuity and a clear connection. Norse mythology contains such powerful language and rich storytelling, it felt only right that the AM-RB 003 should follow the Valkyrie's theme." Witness, then, the available specs of the Valkyrie's upcoming relative. There will be a 500-car production run, and the Valhalla will feature a turbocharged V6 with a hybrid system. The car is all carbon fiber, and it will have an advanced, Vulcan-style sealed oil system that enables quick changes and reuse of the engine oil. The variable airfoil on the rear wing benefits from NASA-level FlexFoil technology, with the ability to adjust the car's downforce without changing the airfoil's angle. No power figures or more specific information has yet been announced. Valhalla production is slated to begin in late 2021. Regarding the Valkyrie, Aston Martin has announced it will race at the 24 Hours of Le Mans in 2021. The year coincides with the 100th anniversary of Aston Martin first racing at the Circuit de la Sarthe.

Aston Martin's front-engined sports cars getting big upgrades for 2023

On an investor call in March 2021 to go over financial results for the year 2020, Aston Martin CEO Tobias Moers told listeners that the automaker's range of front-engined cars were going under various knives to get a "full refresh." At last, thanks to voluminous commentary provided at the launch of Aston Martin's AMR22 Formula 1 car, we have some idea of what Moers' meant. When Autocar spoke to carmaker CEO Lawrence Stroll, he told the outlet the DB11, DBS, and Vantage were going to be like "all-new cars" after receiving upgraded powertrains, suspensions, and infotainment systems. It sounds like there could be design tweaks in store as well, the honcho claiming, "There's no similarity at all to the current cars" save for "some carry-over" in the rear quarters. Autocar believes the AMG-sourced M177 twin-turbo 4.0-liter V8 in the DB11 and Vantage will get more power, both of those coupes furnished with 503 horses from that mill at the moment. Meanwhile, the AMG GT 63 S four-door coupe is getting 630 horses from the same engine, more than the 600 hp Aston Martin elicits from its in-house, 5.2-liter V12. It will be interesting to see if the V12 is pushed further in order to retain the same daylight between it and the V8. Alongside this, Stoll told Bloomberg the next 18 to 24 months will bring us electrified versions of the entire model portfolio. The DBX will likely come first, in the next 18 months, with performance that will match or exceed the recently launched DBX707. The hybridized "front-engine program" will follow on its quad pipes. The interiors will take a luxurious step up thanks to the arrival of touchscreens. Before the English firm's tie-up with AMG, it used Volvo-sourced infotainment screens, a necessary cost-saving measure but one that wasn't up to the standards of the brand. Moving to the Mercedes-based system improved the perception, but Aston Martin had to agree to using three-year-old Mercedes technology, another move that didn't fit the standards of the brand. As Stroll asked rhetorically yet rightly, "How can you have an Aston Martin that sells for GBP150,000 with three-year-old technology?" To be clear, we're still taking about underlying Mercedes tech, but the up-to-date stuff that, furthermore, will issue directives with "a proper English accent." The results of the upgrade program are anticipated to reach dealer in 2023, perhaps as 2024 models.