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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.

2014 Chevrolet C7 Corvette wastes no time zooming into Jay Leno's Garage

Where else would you expect the 2014 Chevrolet Corvette Stingray to show up first? Although this time it isn't exactly in Jay Leno's Garage, Leno instead playing an away game at Brown's Classic Auto in Scottsdale, Arizona. Nor does Leno drive the car, instead taking an 11-minute walkaround of the new American sports car with General Motors design head Ed Welburn, the same man who recently brought by a string of classic Corvettes to the talk show host's California compound.
It is, admittedly, a love-fest for the American sports car now featuring 450 horsepower and 450 pound-feet of torque, but one that also features admissions about previous Corvette seats like "they were kinda rough," and the explanation that labeling the coupe "Stingray" means not having to call it "the base Corvette." On top of that, Welburn also explains the proper application of the term "dashboard." You can watch it all in the video below.

Recharge Wrap-up: BMW cars to share i tech, Jordan to build solar EV charging network

Jordan is looking to promote EVs and build a solar charging network. The country is waiving import tariffs on electric cars, and is spending $120 million on solar chargers. It plans to build 3,000 charging stations, along with 30 MW of solar power. Some chargers will be powered by solar canopies, while others will get electricity from nearby solar farms. Jordan's solar plan should also help to lessen the amount of energy it needs to import from nearby countries. Read more from Navigant Research, or at Green Car Reports. BMW's mainstream cars will benefit from technology borrowed from the i3 and i8, according to BMW sales head Ian Robertson. In an interview with Automotive News, Robertson said that next-generation cars will use carbon fiber more extensively, and that more cars will get plug-in technology. He said that about half of i3 buyers opt for the range extender and added that it is incorrect to refer to a range-extended electric vehicle as a plug-in hybrid. Read more at Automotive News. The ethanol market should remain healthy despite falling oil prices. While cheap oil could drive down ethanol prices, demand still remains due to the federal biofuels standard. Additionally, ethanol producers may find it cheaper to ship their products as domestic oil production drops and railroad shipping opens up. Ethanol byproducts like distillers grains continue to sell, and foreign demand continues as other countries impose their own renewable fuel standards. Read more at Yahoo News. Via Motors will launch the production of an electric Chevrolet Silverado. The company will convert the pickups into range-extended EVs at its assembly line in Mexico, near GM's Silverado plant. Via has the capacity to produce 10,000 vehicles per year at its Mexico facility. Via Motors Chairman (and former GM Vice Chairman during the early days of the Chevrolet Volt project) Bob Lutz wants to help make EVs mainstream in America, and believes that requires electrifying pickups and SUVs. Read more in the press release below. Bob Lutz to Announce Production Launch of the Electrified Chevy Silverado BY VIA Motors Media access to Bob Lutz, former Vice-Chairman of General Motors and father of the Chevy Volt Bob Lutz is now Chairman of VIA Motors who builds the "Volt Style" extended range electric drive system for the Silverado, the Express Van and is working on the SUV's (Tahoe, Suburban) 5 years in development. Now production Launch and Consumer Sales in 2015.