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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.

Mazda's Tokyo concepts have us wishing for more Mazdaspeed

It's been a while since we've seen any new Mazdaspeed machinery, and we're sorry to report that today isn't the day the wait ends. But if you want to see what they might look like based on Mazda's latest models, the Tokyo Auto Salon will be the place to be in a couple of weeks. Turns out the Zoom-Zoom brand has a whole raft of performance models in store for the aftermarket expo. Most intriguing to our eyes is the trio of Racing concepts – one based on the MX-5 Miata roadster, one on the CX-3 crossover, and one on the Mazda6 sedan. Each is done up in black with full aero kit, new rolling stock, and Alcantara interior. An adjustable suspension is the big change to the MX-5 – known simply as the Mazda Roadster in Japan – which also features red trim. As does the CX-3, while the Atenza (which we know as the Mazda6) goes for a more monochromatic, murdered-out appearance. The rally-prepped Mazda2 (known domestically as the Demio) focuses on a stripped-out interior with bucket seats, racing harnesses and a roll cage. There's a spec racing MX-5 in white livery with roll cage and tow hooks as well to join the Global Cup roadster we've already seen. That also goes for the RX-Vision and LM55 Vision Grand Turismo concepts which have already made the rounds but will be on display at the Tokyo salon as well. But it's those three Racing concepts that leave us salivating for production performance models to come – and hopefully come to North America in the process. Related Video:

Mazda recalls 1.37 million older vehicles for ignition switch short [UPDATE]

UPDATE: Mazda has confirmed to Autoblog that NHTSA's figures and list of effected models are accurate. Mazda is recalling 1,368,500 older vehicles in the US that date as far back as the late '80s because a potential short circuit in the ignition switch could cause a fire. According to the National Highway Traffic Safety Administration, the models include: 1990-1995 323 1993-1998 626 1993-1995 929 1989-1998 MPV 1993-1997 MX-6 1992-1993 MX-3 1990-1998 Protege Mazda reports that over time the grease around the switch's contact points can carbonize and become conductive, which can eventually lead to a short circuit. In some cases this results in smoke, but it could also lead to a fire. According to company spokesperson Tamara Mlynarczyk to Autoblog, there're no accidents, injuries, or fires in the US. Once the vehicle is running, the potential fault also doesn't affect drivability. Documents from NHTSA (as a PDF), indicate there was a fire in one of these vehicles in Japan in 2002 that could have been linked to this issue. The recall should begin in December. In its announcement of the issue below, Mazda reports 1.2 million vehicles affected and includes the 1990-1996 323/Protege. Autoblog has reached out to the company to understand the discrepancy. Related Video: RECALL Subject : Ignition Switch may Overheat Report Receipt Date: OCT 19, 2015 NHTSA Campaign Number: 15V674000 Component(s): ELECTRICAL SYSTEM Potential Number of Units Affected: 1,368,500 All Products Associated with this Recall Vehicle Make Model Model Year(s) MAZDA 323 1990-1995 MAZDA 626 1993-1998 MAZDA 929 1993-1995 MAZDA MPV 1989-1998 MAZDA MX-6 1993-1997 MAZDA MX3 1992-1993 MAZDA PROTEGE 1990-1998 Details Manufacturer: Mazda North American Operations SUMMARY: Mazda North American Operations (Mazda) is recalling certain model year 1989-1998 MPV, 1990-1995 323, 1990-1998 Protege, 1992-1993 MX-3, 1993-1995 929, 1993-1997 MX-6, and 1993-1998 626 vehicles. In the affected vehicles, grease applied to the contact points inside the ignition switch may become conductive and overheat. CONSEQUENCE: If the ignition switch overheats there would be an increased risk of a fire. REMEDY: Mazda will notify owners, and dealers will replace the ignition switch, free of charge. The recall is expected to begin December 15, 2015. Owners may contact Mazda Customer Experience Center at 1-800-222-5500, option#6. Mazda's number for this recall is 8715J.