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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.

GMC Hummer EV pickup reveal postponed

We’re pretty excited about the all-electric Hummer pickup coming from the GMC brand. GM is too, enough to spend Super Bowl money on an ad teasing it. Today, we received an update from GM about the Hummer EV, with good news and bad news. The bad news: GM has announced that it is postponing the May 20 reveal for the Hummer. With the coronavirus throwing the proverbial wrench into a number of vehicle operations, including reveals, we canÂ’t say weÂ’re surprised at all. The good news, GM assures us, is that development continues “undeterred.” GM understandably hasnÂ’t provided a new debut date for the GMC Hummer EV, but it did provide us with the new short teaser video above. WeÂ’ve seen other details in previous teasers, as well. We were lucky enough to see the Hummer EV in person last month just before the pandemic began causing the world to grind to a halt. At GMÂ’s EV Day at its Warren, Mich., campus, the Hummer pickupÂ’s exterior was on full display. ItÂ’s a big, off-road-ready pickup complete with giant all-terrain rubber and tow hooks. It features removable roof panels for access to the open sky, which appears to be depicted in the teaser above. It features sail panels behind the C-pillars, similar to those on the Chevy Avalanche and Honda Ridgeline. Its bed was concealed with a tonneau cover, but it sported GMCÂ’s MultiPro tailgate that we first saw on the Sierra Denali. Interior photos showed a spacious interior with blocky shapes, squared hourglass vents that mirror the look of the taillights and a lunar theme that incorporates the topography of the Sea of Tranquility into things like the floor mats and speaker covers. It also has a large infotainment screen as well as a digital instrument panel. The Hummer pickup will be offered with a number of electric powertrain options, the most powerful of which will provide 1,000 horsepower and a 0-60 mph time of less than three seconds. Like the rest of the next generation of GM EVs, it will use the automakerÂ’s new Ultium modular battery and powertrain technology. While we donÂ’t have further details about a potential reveal date, we also know a Hummer electric SUV based on the pickup will follow at some point. It, too was on display at GMÂ’s EV Day. It looks exactly like the Hummer pickup from the rear doors forward, but with a shorter wheelbase and enclosed cargo area in the rear. It also sported a liftgate-mounted spare.

Detroit 3 to implement delayed unified towing standards for 2015

Car buyers have a responsibility to be well-informed consumers. That's not always a very simple task, but some guidelines are self-evident. If you live in a very snowy climate, you generally know a Ford Mustang or Chevrolet Camaro might not be as viable a vehicle choice as an all-wheel drive Explorer or Traverse, for example. If you want a fuel-efficient car, it's generally a good idea to know the difference between a diesel and a hybrid. But what if it's kind of tough to be an informed consumer? What if the information you need is more difficult to come by, or worse, based on different standards for each vehicle? Well, in that case, you might be a truck shopper.
For years, customers of light-duty pickups have had to suffer through different ratings of towing capacities for each brand. For 2015 model year trucks, though, that will no longer be a problem. According to Automotive News, General Motors, Ford and Chrysler Group have announced that starting with next year's models, a common standard will be used to measure towing capacity. The Detroit Three will join Toyota, which adopted the Society of Automotive Engineers' so-called SAE J2807 standards way back in 2011.
The standard was originally supposed to be in place for MY2013, but concerns that it would lower the overall stated capacity for trucks led Detroit automakers to pass. Ford originally passed, claiming it'd wait until its new F-150 was launched to adopt the new standards, leading GM and Ram to follow suit. Nissan, meanwhile, has said it will adopt the new standards as its vehicles are updated, meaning the company's next-generation Titan should adhere to the same tow ratings as its competitors.