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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.

2019 Mazda CX-5 to get 2.5-liter turbo and revised G-Vectoring

The 2019 Mazda CX-5 is getting Mazda's 2.5-liter turbocharged four-cylinder engine if this supposed internal document from Reddit is correct. The user claims a salesperson showed him the document in question. In addition to the availability of the turbo engine, Apple CarPlay and Android Auto appear to be added onto every trim level. Do take note that the document says it's from Mazda Canada at the bottom, so that's why the trim levels don't have the same names as they do in the U.S. Another interesting mention in there is G-Vectoring Control Plus. We've had Mazda's G-Vectoring Control technology for a little while, but never has a car come out with the Plus moniker on there. Our best bet is Mazda has revised its original G-Vectoring system for 2019; we'll have to wait for official information to see what exactly changed though. At the top of the page Mazda lists "substantial visual changes to the interior" as one of the highlights. The biggest change we can find related to that is a seven-inch LCD display added to the gauge cluster on what would equate to the Grand Touring trim in the U.S. At least Canada — and maybe we too — seems to be getting a fourth trim level called "Signature." This will probably consist of more expensive materials used throughout and maybe a few bonus tech features over the Grand Touring. The page shared looks plenty legitimate, but it's still best to maintain some healthy skepticism. It's also from Canada, so there could be some slight variations between how those cars are equipped versus those coming stateside. We're excited to see the 2.5-liter turbo in the smaller CX-5, though. It should give that car the extra punch it needs to fend off faster rivals in the ever-expanding crossover segment. Featured video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Which car companies are creating new jobs in America?

Since January, automakers have announced investments totaling $9.5 billion in U.S. plants, creating or retaining more than 12,000 jobs. Some of those companies have yet to announce just how many jobs will be created given their investments, with the location of many of those jobs still to be determined. Specifically, the 4,000-job Toyota-Mazda joint venture plant still hasn't announced its location, with numerous states jockeying for it. Hyundai has plans to invest $1 billion but has not announced a jobs number yet. And likewise Ford is investing $1.2 billion in Michigan without specifying a number of jobs. Volvo this week announced plans to add a second line to its factory under construction in South Carolina, spending another $500 million and adding 2,500 jobs to the 2,000 it was already trying to fill. Then Thursday, Daimler announced a $1 billion expansion to its facility in Tuscaloosa, Ala., to produce EV batteries and electric SUVs, a move that will add 600 jobs to its hiring this year. Above, we've created a handy pie chart showing you which companies have announced new jobs and how many there will be. Reporting by Paul Lienert in Detroit News Source: Reuters Plants/Manufacturing BMW Chrysler Ford GM Honda Hyundai Mazda Mercedes-Benz Toyota Volvo jobs