1964 Chevrolet El Camino 383 Cu. Stroker Complete Rebuild/rare With Factory Air on 2040-cars

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Officially Official: Chevrolet replaces Daewoo name in Korea

Chevrolet Camaro in Korea - Click above for high-resolution image

There once was a time when Daewoo was one of the biggest companies in South Korea. It was larger than both LG and Samsung, and second only to Hyundai. But these days the name is all but gone.

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.

Junkyard Gem: 1986 Chevrolet Sprint Plus

General Motors sold second- and third-generation Suzuki Cultuses with Geo or Chevrolet Metro badging in the United States from 1989 through 2001 model years, and we've all seen plenty of those cars on the street over the years. The first-generation Cultus was sold here as well, with Chevrolet Sprint badges, and I've found a rare example of the Sprint five-door hatchback in a Northern California car graveyard. The Chevy Sprint first appeared on the West Coast as a 1985 model, then became available everywhere in the United States for the 1986 through 1988 model years (in Canada, it was sold as the Pontiac Firefly). It was available here as a hatchback with three or five doors; for 1986 only, the five-door was badged as the Sprint Plus. Soon enough, The General would be selling many more Asian-built cars with Detroit badges here. Isuzu I-Marks were sold as Chevrolet/Geo Spectrums starting in the 1986 model year, while Daewoo provided the Pontiac LeMans two years later. Under the hood, a 1.0-liter three-cylinder rated at 48 horsepower. The five-door Sprint cost $5,580 in 1986, which was $200 more than the three-door (those prices would be $15,445 and $14,891 in 2023 dollars). I've documented seven discarded Sprints prior to this one (including an extremely rare Turbo Sprint), and all of them were three-doors; we can assume that price was the most important factor for Sprint buyers. Gasoline prices were crashing hard during the middle 1980s, but memories of gas lines and odd-even-day fuel rationing from 1979 remained strong. What cars competed with the '86 Sprint on sticker price? Well, there was no way to undercut the hilariously affordable (and terrible) Yugo GV, which cost $3,990. The much bigger (but still pretty bad) Hyundai Excel listed at $4,995, while Toyota would sell you a sturdy (but zero-fun) Tercel starting at $5,448. Even the wretched Chevy Chevette — yes, it was still available in 1986 — cost $5,645. The original buyer of this car was willing to shell out an extra $395 to get an automatic instead of the base five-speed manual. That's about $1,093 in today's money. This car must have been slow. By the end, the doors were held shut with duct tape, but it still stayed alive until age 37. 53 miles per gallon on the highway! It does everything. The camels of the highway.