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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 to resume engine-building program for 2015 Corvette Z06

One of Chevrolet's most popular and unique customer features is set to return for 2015, as the company has announced that the Engine Build Experience is back. Interested owners will be able to screw together their engines beginning in March. The $5,000 option (which does not include the cost of travel) will give future owners of the 2015 Corvette Z06 the chance to screw together their car's actual 6.2-liter, supercharged V8. Available on each of the Z06's three trims, the Engine Build Experience includes a day at the Performance Build Center, instruction from an engine assembly tech, photographs of the experience and a personalized engine plaque. Once the build process is completed, the engine will (eventually) be fitted under the hood of the customer's personal Z06. "Chevrolet recognizes the passion customers have for Corvette and the Engine Build Experience offers them a truly unique opportunity for hands-on involvement in the creation of the heart of their new car," Corvette product manager Harlan Charles. "It's important for customers to understand their engine won't be installed the day after they built it. It will flow into the scheduling process for vehicle assembly, which depends on a number of logistical variables." Scroll down for the official announcement of the Z06's Engine Build Experience, available below. Exclusive Corvette Engine Build Experience Returns Program renewed for supercharged LT4 engine at new Bowling Green build center 2015-01-07 BOWLING GREEN, Ky. – Chevrolet announced today it is resuming the exclusive Engine Build Experience for Corvette Z06 customers – the only program of its kind for supercar customers. Starting in March 2015, Corvette Z06 customers will be able to assemble the 650-hp supercharged LT4 engine for their cars at the new Performance Build Center inside the Bowling Green Assembly Plant. "Chevrolet recognizes the passion customers have for Corvette and the Engine Build Experience offers them a truly unique opportunity for hands-on involvement in the creation of the heart of their new car," said Harlan Charles, Corvette product manager. "It's a chance to bond with their new car." The Engine Build Experience is selected with order code PBC and is offered on all Z06 trim levels.

Why the Corvette is Chevrolet's billion-dollar baby

Edmunds has worked up a piece that tries to figure out just how much the global Chevrolet Corvette economy is worth, a spitballed guesstimate putting the number at more than $2.5 billion with the proviso that the number is probably low. It starts by taking Corvette's new car sales of 14,132 units last year, which would equate to $714,725,900 (including destination) assuming ever car sold was a base coupe with no options. In the final tally, a little extra padding gets that number up to $750,000,000.
But that's not all. Consider this: Many of the almost 1.4 million Corvettes produced over the model's history are still on the road. There are new parts being produced and aftermarket companies like Mid-America Motorworks deaing business, that single Illinois company doing more than $40 million a year in sales. There are the Corvette events large and small, restorers who do nothing but Corvettes, salvage yards that deal only in used Corvette parts and the Corvette magazines where owners find all this stuff.
And then there are the Corvette-themed tchotchkes, every single one of which provides a tiny contribution to the huge licensing royalties that General Motors collects every year. The article admits there's no way to come to an accurate number, but it just goes to show how valuable one specific model can be to a company.