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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.

"Turbo" Chevrolet Camaro is a 700-HP fantasy car come to life [w/video]

For a concept car built to promote an animated movie about a snail that wants to go racing, this thing ain't half bad. The outsized monster you see before you started life as a Chevrolet Camaro ZL1, and then went through a big-time Hollywood makeover before being positioned on the Chevrolet stand here in Chicago.
This 2013 "Turbo" Camaro Coupe is getting the promotion machine ratcheted up for a new DreamWorks tale by the name of, you guessed it, Turbo. Coming this summer, the movie will follow one snail's quest to become a race driver worthy of making the cut at the Indy 500. Like many DreamWorks vehicles before it, we're guessing that the petrolhead snail will star in a movie that adults (especially racing fans) with have no trouble watching with their kids. Check out the trailer below to see if you agree.
As for the car, we're told that it is "instrumental" in transforming Turbo from snail into racer. Helping the beastly pony car in this mighty task, is an ankle-cracking front splitter matched by a ungodly huge rear wing out back, a COPO hood and a supercharged (yes, supercharged) V8 engine making more than 700 horsepower. 24-inch wheels all the way around - 10-inches wide in front and 15-inches wide in back - should allow the "Turbo" Camaro to hook up with ease, as well.

Will Chevy Bolt get Opel badge in Europe?

General Motors' European plug-in vehicle name may go from A to B. That's because the Chevrolet Bolt could be sold under GM's Opel brand across the Pond, Automotive News Europe says, citing people familiar with the process that it declined to identify. The Ampera, the European version of the Volt extended-range plug-in vehicle, is being phased out due to poor sales. While the Ampera won the European Car of the Year in 2012, its sales have trended well below expectations. That the Bolt would be sold as an Opel hints to us that GM expects to distribute the electric vehicle in far smaller numbers than in the US. The Bolt, which was introduced in January in its concept version at the North American Auto Show in Detroit, will have a single-charge range of about 200 miles. GM representatives didn't immediately respond to a request for comment from AutoblogGeen on Friday afternoon. The car will also have a price tag in the US of about $30,000, factoring in federal-government tax incentives. That's if those tax incentives are still around in 2017, when the Bolt is expected to debut stateside. Related Videos: Featured Gallery Chevrolet Bolt EV Concept News Source: Automotive News Europe-sub.req. Green Chevrolet GM Opel Electric Chevrolet Bolt bolt