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Aston Martin has a second mid-engined car coming

Aston Martin is expanding its exotic car horizons beyond GT cars into the realm of mid-engined sports cars. We're not talking about the upcoming Valkyrie hypercar, though. Instead, we're talking about a more mainstream mid-engined supercar designed to take on the Ferrari 488, Lamborghini Huracan, and McLaren 720S. Andy Palmer, CEO of Aston Martin, stated this specifically when discussing future product plans with Auto Express. According to Auto Express, Palmer said the car will be a competitor the 488, and will launch in 2020 as part of a plan to release a new model every year from now until 2023. Before the mid-engined car will be the rest of Aston's new GT line and the DBX crossover, and following the Ferrari fighter will be a pair of Lagonda models and the DB12. The 2020 launch date is a full year sooner than we were expecting for a sub-Valkyrie mid-engined car. Palmer cites a few reasons for going mid-engined. He explained that it's the segment standard, and that it's ideal for weight distribution. He also noted that going mid-engined will help bridge the gap between the top-tier Vanquish GT car and the Valkyrie. That's a gap with loads of room for another model, too, since the Vanquish will likely be comparable to the Ferrari F12berlinetta, which costs a bit over $300,000. The Valkyrie, on the other hand, will go for $3 million and have performance comparable to the LaFerrari and the Koenigsegg One:1. Related Video:

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.

King Charles' electric I-Pace goes to auction next month

Never mind the Bentley State Limousines, the Aston Martin DB6 Volante that Queen Elizabeth II bought him on his 21st birthday, or the Rolls-Royce Phantom VI valued at more than $600,000. The car of the moment, if we’re talking about the garage of King Charles III of England, is a far more ordinary — and all-electric — Jaguar I-Pace purchased in 2018 by His Majesty “for his personal use." The royal Jag is set to be auctioned off March 2 at the famed Ascot Racecourse; estimated selling price is as high as $88,000. If you miss out on the auction of a president's former ride, here's one from a king. The SUV, notable as the first all-electric vehicle to be embraced by the royal family, is the range-topping I-Pace EV400 HSE all-wheel-drive luxury five-seater that the king — prince of Wales at the time — bought in September 2018 for $75,000. According to the auction site, the Jag was "purchased with his own money." Charles had Jaguar install a fast charger at Clarence House, his residence. The vehicle was returned to a Jaguar dealership after two years — itÂ’s not clear if it had been leased — with only 3,000 miles on the clock. Subsequently, the SUV was sold to one Karen French of Oxfordshire. She said in a statement offered by Historics Auctioneers, “This I-Pace was exactly what I was looking for and pretty much on my doorstep. It was only when I agreed to buy it that I discovered its extraordinary history — I was absolutely thrilled. Having driven it over 30,000 miles,” she added, ”I decided in the New Year that it was time for a change.” Noted by the auctioneers in typical British understatement, the high-specification car was uniquely finished in Loire Blue and remains the only I-Pace “to be painted in this colour, whilst those inside the car enjoyed a sumptuous, contrasting leather interior in, fittingly, Light Oyster Windsor.” A revised Jaguar I-Pace is scheduled to arrive next year. Regarding the KingÂ’s affection for automobiles — British automobiles — he reportedly overseas a fleet worth more than $17 million. And while heÂ’s fond of driving conventional vehicles, he told the BBC some years ago that “my old Aston Martin, which I've had for 51 years, runs on — can you believe this — surplus English white wine, and whey from the cheese process.” Essentially the classic had been converted to run on E85 bio-ethanol. "The engineers at Aston said, 'Oh, it'll ruin the whole thing,'" Charles shared with The Telegraph in 2018.