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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.

2018 GMC Terrain loses the V6 and gains a diesel for an all-turbo lineup

You may have noticed that compact crossovers are kind of a big deal these days. After eight years on sale, GMC is finally getting a new version of its littlest ute, the Terrain, for 2018. And it can't arrive a moment too soon. The 2018 GMC Terrain made its debut tonight on the eve of the 2017 Detroit Auto Show. The 2018 Terrain looks to be completely new, and is now built on GM's D2XX platform. It again shares a platform and major components with the Chevrolet Equinox; like the 2018 Equinox, the Terrain will offer three engines, including two turbocharged gas four-cylinders and a turbodiesel four. The base 1.5-liter gas four makes 170 horsepower and 203 pound-feet of torque, while the 2.0-liter inline-four puts out 252 hp and 262 lb-ft. (The 2.0 basically takes the place of the 3.6-liter V6 offered in the outgoing Terrain.) GM's 1.6-liter diesel four will also be available, making 137 hp and 240 lb-ft of torque in this application. Both gas engines will be paired with nine-speed automatic transmissions, while the diesel gets a six-speed auto. No fuel-economy claims have been made, but we expect the new models to outdo the current versions, with the diesel reaching around 40 mpg on the EPA highway cycle. View 14 Photos The new Terrain's design is equally fresh and does a good job of differentiating it from the related Equinox, with details very reminiscent of the new GMC Acadia. The lighting elements are even more intricate here, with LEDs used for the daytime running lights and taillamps. GMC designers gave it the floating-roof look, which is successful aside from the odd placement of a trim badge at the base of the D-pillar. Terrains will again be available in SL, SLE, SLT, and range-topping Denali trim, with the latter featuring the signature satin chrome grille, chrome accents, and monochrome paint scheme GMC uses on all of its top-trim models. The interior sees an upgrade in materials and a more-thoughtful layout, with a new version of GM's Electronic Precision Shift gear selector using buttons and switches instead of a lever to open up more space on the center console. Both front- and all-wheel-drive models get a Traction Select system that will tune the shift points and throttle points for specific driving conditions via a knob at the rear of the console. On models equipped with all-wheel drive, a front-drive mode disconnects the rear axle to improve fuel economy.

GMC reveals updated 2016 Sierra

It was just the other day that Chevy revealed the face of the new 2016 Silverado. And as might have been expected, sister brand GMC has followed up by unveiling its version in the facelifted 2016 Sierra pickup – just two and a half years since the current all-new model was rolled out. Though details released thus far remain few and far between, GMC has revealed more images of the new Sierra – in SLT, Denali and All Terrain trim levels – than Chevy did of the updated Silverado. It's got new headlights, fog lamps, and C-shaped daytime running lights and taillights, all using LED elements. It's arguably a more muscular look than the Chevy version, and with more chrome than the toned-down Silverado. That is, at least, in SLT and Denali trims. The All Terrain version looks more in line with the similarly off-road-focused Silverado Z71 and its color-keyed treatment. The changes ought to help GMC keep up the momentum that has seen its sales rise year-over-year every month over the past twelve. The interior shots indicate that the new Sierra will incorporate Apple CarPlay like GM is installing in so many models across its various brand ranges. But we'll have to wait a little while longer for all the details. Related Video: 2016 GMC Sierra Unveiled 2015-07-15 DETROIT -- GMC's best-selling truck has great momentum coming off its best June since 2006 and 12 consecutive months of year-over-year sales gains. With exterior styling as its top reason for purchase, the new truck adds key design elements: LED "C-shaped" signature daytime running lights and LED headlights; new front fascia and grilles for each trim level; new LED fog lamps; new bumpers; and new "C-shaped" LED taillights. The new Sierra will be available in the fourth quarter of this year, with additional details and information on the new model released in the coming months.