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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.

Chevy Bolt will go into production in Michigan in 2016 [UPDATE]

While nothing official has been announced, it appears that General Motors may actually put the all-electric Chevy Bolt into production next year. That's the rumor that Reuters is reporting, citing two sources at suppliers for the upcoming $30,000 EV (although that $30,000 number bears some scrutiny). This rumor does fit in with earlier comments that the Bolt would arrive on the market in 2017. If it gets built, the Bolt will share more than a similar-sounding name with the Chevy Volt: the EV will be put together in metro Detroit. Reuters says the 200-mile electric car (and an Opel version) will be made in "an underused small-car plant north of Detroit," which means the Orion Township plant. GM could make between 25,000 and 30,000 Bolts a year there, if what the suppliers are saying is true. We have asked GM for a statement on this story and will update it if we hear back. UPDATE: General Motors manager of electrification technology communications, Kevin Kelly, told AutoblogGreen that, "Bolt EV Concept is just that – a concept. We're currently evaluating the vehicle program, but do not have any production announcements to make at this time."

2018 Autoblog Technology of the Year finalists

After months of prepping and several days of testing, we narrowed the field for Autoblog's 2018 Tech of the Year award to the Nissan Rogue with ProPilot Assist semi-autonomous driving system, the Lexus LC 500h and its new hybrid powertrain, and the Chevy Colorado ZR2 and its trick Multimatic spool-valve off-road shocks. Three very different cars with very different technologies duking it out for the award. Look for news of our winner at the 2018 Detroit Auto Show. We hand out this award every year to the technology or feature that we feel moves the bar forward for the automotive industry. Read more here on how our testing process works. We discuss, debate and count up score sheets, judging each vehicle and technology on a few different criteria. Is its purpose noteworthy? Does it work well? Does it advance the industry? The Nissan Rogue with ProPilot Assist was actually a prototype, as the technology will first debut in the 2018 Nissan Leaf. Still, we're here to test the tech and not the car. ProPilot Assist combines adaptive cruise control system combined with lane-keeping assistance. The system uses sonar, radar and a number of cameras for some light semi-autonomous driving and enhanced safety. While these systems aren't new individually, Nissan's system is affordable, intuitive, and coming to a mainstream product — democratizing the tech in a novel way, if you will. That's why it's here. The Lexus LC 500h uses a new powertrain that Lexus has dubbed the Multi-Stage Hybrid System. Basically it combines two types of transmissions — a CVT and a four-speed automatic — in a single unit mated to a naturally aspirated V6. That's complex and unorthodox technology, and Lexus engineered it to give drivers the efficiency of a CVT without sacrificing driving enjoyment. The package is subtle, working in the background to create a nearly seamless driving experience. It's engaging in a way most other hybrids can only dream of. The fact that it's wrapped in such gorgeous sheetmetal only makes things better. The Multimatic spool valve shocks in the Chevy Colorado ZR2 might seem low-tech compared to ProPilot Assist and the Lexus Multi-Stage Hybrid, but they represent a completely novel application of a technology that several years ago was so expensive that it was reserved for top-tier race cars. Like the LC 500h, these shocks really change your perception of how a vehicle like this should drive.