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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.

Next Corvette ZR1 to get 700 horsepower?

Word has it General Motors may offer as much as 700 horsepower in the C7 Corvette ZR1. Motor Trend reports the next Corvette Z06 will continue to rely on its naturally aspirated 7.0-liter V8 engine for thrust, but the lump will deliver substantially more power. How much more? MT says the engine could deliver up to 600 ponies. That's a jump of 95 horsepower over the current Z06, though no figures have been finalized as of yet. Right now, GM is reportedly waiting to see what sort of grunt it can glean from the next ZR1.
The automaker has already made it clear it will resurrect the LT5 name for the new supercharged V8, and if GM is already pulling 600 from the Z06, the big dog ZR1 would theoretically offer 700 horsepower. Either way, the range-topping Corvette will be suitably insulated from its less potent siblings. Stay tuned. We aren't likely to see the Z06 for at least a year, with the ZR1 trailing along at some point there after.

Recharge Wrap-up: Tesla sells Model S 85 and 70D in Malaysia, Chevy Spark EV built using clean energy

Tesla will send Model S 70D and Model S 85 EVs to Malaysia for leasing to government-linked companies. Only those companies will have access to the models as a two-year lease, which will be imported and leased by Malaysian Green Technology Corporation. The plan is part of an initiative by the Ministry of Energy, Green Technology and Water to allow government officials and other influential people to get to know the electric vehicles and the benefits that come along with them. Most of the 120 vehicles available will be the 70D model, and the lessee companies will have the option to purchase the cars at the end of the two years. Read more from Paul Tan's Automotive News. Wanxiang is hosting students from Delaware in China as part of a program to learn Mandarin and visit schools and science and technology sites. Wanxiang, the auto parts company that acquired Fisker (which had manufacturing based in Delaware) and battery maker A123 Systems, will give the students tours of its solar technology facilities, among other places, and see what daily life is like for families in the region. The program helps students interested in science and technology to foster marketable skills — like learning a foreign language — that will help them get jobs in industries around the world. Read more at Delaware Online. The Chevrolet Spark EV's electric motor (pictured) and drive unit are manufactured using clean energy. The e-motors building of the General Motors Baltimore Operations complex has a new rooftop solar array and uses LED and CFL lighting, helping the building recently earn LEED Silver certification. The landfill-free facility also takes advantage of the 1.23-megawatt solar array on the grounds, helping it source six percent its energy from renewable sources. The plant has reduced its energy intensity by 15.5 percent in three years, and continues to work toward reducing consumption and sourcing clean energy. "We believe reducing our environmental footprint is good for the climate and good for our business," says GM Executive Director of Global Public Policy Greg Martin. Read more in the press release below. Spark EV Motor Plant Fueled by Green, Clean Energy ENERGY STAR®, USGBC and Maryland state agency recognize facility's efforts WHITE MARSH, Md. – Chevrolet recently began selling the Spark EV to Maryland commuters able to take advantage of the state's robust charging infrastructure.