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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's next continuation car is its 1929-30 Le Mans winner

Bentley's Mulliner division will resurrect the Speed Six as its second continuation project. Announced on the sidelines of the 2022 Goodwood Festival of Speed, the born-again classic will be nearly identical to the cars that won the 24 Hours of Le Mans in 1929 and 1930. Continuation cars remain a significant source of controversy among enthusiasts; Ralph Lauren is one of the high-profile collectors who wrote an angry letter to Bentley after the firm announced plans to make 12 replicas of the four 1929 Team Blower models. The criticism didn't dent the model's popularity; all 12 units were spoken for in record time, and this success encouraged Bentley to bring the Speed Six back to life. Why the Speed Six? It's one of the most important models in Bentley's history, according to the company's archives department, largely due to its success at Le Mans. It was an evolution of the 6 1/2 -Litre model whose 6.5-liter straight-six engine was tuned to develop about 180 horsepower, a huge number in the 1920s. It was offered with three different wheelbases, and 182 examples were made between 1928 and 1930. Only a small handful of those were modified for racing; they were built on a 132-inch wheelbase and fitted with a 200-horsepower six. Bentley started the continuation project by sourcing two of the original cars. One is the third of three units that raced at Le Mans in 1930, and it's been nicknamed Old Number Three. It's in private hands. The second is a 1929 model that's part of the carmaker's collection and that has previously received a full restoration. Mulliner has completed a 3D CAD model of the Speed Six using those cars and period documents. Pricing for the Speed Six continuation car starts at GBP1.5 million, a sum that represents about $1.8 million at the current conversion rate. Production is limited to 12 units, and collectors scooped up the entire batch before the project was announced to the public. Bentley will begin building the first car, which is not part of the 12 and which will be used as a testing and engineering mule, in the second half of 2022.   Featured Gallery Bentley Speed Six View 12 Photos Bentley Automotive History Convertible Luxury Racing Vehicles Performance Classics Goodwood Goodwood Festival of Speed

Bentley recalls 27,640 Continental, Flying Spur models

Even the world's most luxurious automakers aren't immune to recalls. Bentley is proving this point with a campaign on 27,640 of its posh models worldwide for a loose battery cable connection, Reuters reports. The problem affects all examples of the Continental GT, GTC, and Flying Spur with build dates between February 2011 and June 2014, and there are 7,778 of them in the US, according to company spokesperson Erin Bronner to Autoblog. "On a limited number of cars, a bolted connection for a battery cable joint could be loose where it passes through the front bulkhead," Bentley said in a statement. According to Bronner, there were four incidents were this electrical joint overheated, but there have been no reports of any injuries. As a repair, dealers will install a new connection system, which will take around two hours. Scroll down below for the entire statement. Related Video: Bentley Statement: Bentley Motors is conducting a precautionary voluntary recall of all Continental GT/GTC/Flying Spur and new Flying Spur models built between February 2011 and June 2014. On a limited number of cars, a bolted connection for a battery cable joint could be loose where it passes through the front bulkhead. To address this, we will replace the components with a new connection system for all vehicles, which will take approximately two hours per car. All Bentleys built outside of these dates, and all Mulsanne models, are unaffected. The safety of our customers is Bentley's foremost priority and we pride ourselves on the highest standard of quality and service. We are working quickly to ensure that all vehicles are checked and resolved efficiently and effectively. Customers are being contacted by their local Bentley dealer to arrange an appointment. This is a voluntary recall and is in no way connected to any other recalls from other automotive manufacturers.