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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.

GM recalling 54k Cadillac SRX, HD pickup models

There are more recalls to report General Motors, but these latest actions pertain to newer examples of the Cadillac SRX, Chevrolet Silverado HD and GMC Sierra HD. With so much scrutiny on the company's recall strategy, GM is under increasing pressure to call in defective models more quickly, and it appears to be doing so here.
Here in the US, the automaker is recalling 50,571 Cadillac SRX crossovers from the 2013 model year fitted with the 3.6-liter V6 because the transmission control module programming can cause a three- or four-second lag in acceleration at low speeds. The explanation filed with the National Highway Traffic Safety Administration states, "if the following sequence occurs within two seconds: during an upshift from first to second gear (8-10 mph), the driver then brakes the vehicle to less than 5 mph, and then accelerates again," the delay can occur. According to Automotive News, the recall effects 56,400 vehicles worldwide, and the company is not aware of any crashes caused by the problem. The fix consists of a transmission control module (TCM) reflash.
In a separate recall, GM is repairing 51 Chevrolet Silverado HD and GMC Sierra HD pickups from the 2015 model year in the US. In vehicles with diesel engines and dual fuel tanks, the nuts that connect the fuel pipe to each side of the transfer pump between the tanks may be improperly torqued, which could cause a fuel leak. Obviously, this could be a fire hazard. The remedy is simply tightening the hardware. According to GM spokesperson Alan Adler, there have been no fires actually caused by the potential leak. "Only 21 of the trucks are in customer possession and they can be fixed anytime because there are no parts involved. The others are being fixed at dealerships," Adler said in an email to Autoblog.

MotorWeek looks back at 1995 Chevy Tahoe, GMC Yukon

MotorWeek's Retro Review series gives us a nostalgic look back at some of the best sports cars and luxury sedans available in the 1980s and '90s. For its latest clip, the show shifts gears to remember the 1995 Chevrolet Tahoe and GMC Yukon. Similar to the success of crossovers today, SUVs were tallying big sales and making big money for automakers in the mid-'90s. The Tahoe and Yukon filled slots in the market as steps down from the larger Suburban. These twins weren't wanting for space, though, with plenty of room to haul around a family. MotorWeek came away generally impressed too, and called the models some "of the better riding sport utilities we've ever experienced." This review comes with some jazzy, electric guitar licks to enjoy in the background.