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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.

VW Q3 Financial Woes, 2015 Tokyo Motor Show | Autoblog Minute

Consumer Reports pulls its Tesla recommendation, the U.S. Copyright Office offers a ruling affecting car owners, VW gets hit hard with third quarter losses, and lots of exciting news from Tokyo. Autoblog's Senior editor Greg Migliore reports on this Autoblog Minute Weekly Recap. Tokyo Motor Show Mazda Subaru Suzuki Tesla Toyota Concept Cars Autoblog Minute Videos Original Video Tokyo 2015

Mazda RX-3 restomod makes Leno scream, us cheer

The Mazda RX-3 Savanna was the rotary-engined version of the Mazda 808 Grand Familia. Sold in the US from 1971 to 1978, the little Japanese fastback earned a reputation as an excellent racecar, winning events all over the world. A racing connection is how a fantastic 1973 restomod example owned by Savant Young made its way to Jay Leno's Garage. Young said that when he was a boy his uncle used to street race an RX-3, and Young liked how the RX-3 sounded and the fact that a tiny import could go up against and beat big V8s of the time. Leno admitted that he has no connection to the RX-3, saying it's not the kind of car he typically likes. But he liked Young's custom update so much that when he saw the coupe sitting outside the Petersen Museum in Los Angeles, he waited for the owner to show up. Young's changes over the 15 years he's owned the car include dropping in the rotary engine and running gear from the second-generation Mazda RX-7, bridge-ported and methane injected. At 15 pounds of boost he says it's putting out about 400 horsepower. The rear end comes from a Toyota Hilux half-ton pickup, to help put all that power down in a car that weighs maybe 2,100 pounds. The color is taken from the Lamborghini palette. Disc brakes all around, 14-inchers up front, control the velocity. Nothing controls the gas mileage, said to be "maybe 12 mpg." And nothing could stop Leno from whooping it up during the driver. Check out the fun in the video above.