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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.

Bentley SUV given green light by VW board

The "will they, won't they" saga over Bentley's SUV plans appears to finally be over. They will. That's according to the German business newspaper Handelsblatt, which is reporting that the controversial SUV will be built after receiving the go-ahead from Volkswagen's board.
Known internally as "Falcon," the still-unnamed Bentley SUV will be based on the EXP 9 Concept that received wildly mixed reviews at its 2012 Geneva Motor Show unveiling. Since the EXP 9's unveiling, there have been a steady stream of leaks and rumors suggesting that the bold-faced vehicle will get a redesign prior to going into production, but it remains unclear how different the final vehicle will look.
According to Automotive News, Bentley is itself stopping short of confirming the green-light report, though it does admit that the SUV's production outlook appears "very positive." Production will likely take place in Slovakia at a plant owned by parent Volkswagen.

Bentley EXP 10 Speed 6 coming, but not before hotter CUV

Bentley appears closer than ever to giving the green light for production to the curvaceous EXP 10 Speed 6 concept, but expect to see a hotter, more stylish crossover before the coupe arrives in showrooms. During the Bentayga launch, company CEO Wolfgang Durheimer hinted that both models would be perfect additions to the luxury brand's lineup, according to Car and Driver. The EXP 10 Speed 6's shapely design received glowing reviews when Bentley unveiled it at the 2015 Geneva Motor Show, and customers prodded the automaker to manufacture the coupe. "We want to build on this and make it a reality," Durheimer told Car and Driver about the positive buzz, but the boss said he couldn't put a production date on the two-seater yet. Durheimer has made positive statements about the EXP 10 Speed 6's production chances before, but it might be 2020 before the coupe goes on sale because the company's board still needs to approve the model. Rumors suggest the possibility of an electric version with 400 to 500 horsepower from tech similar to the Porsche Mission E concept and a more traditional variant with a 600-hp twin-turbo V8. In the nearer term, we could get the first look at Bentley's high-performance crossover as a concept at the 2016 Geneva Motor Show in March, according to Auto Express. The model allegedly shares the Bentayga's platform but features a revised body with an arching, coupe-like roofline. The company would also add more power to the twin-turbo W12 to match the exterior's more aggressive look. Related Video: