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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.

Opel's version of the Chevy Bolt will confuse people at Paris Motor Show

Two things are now official. First, Opel will reveal the Ampera-e, or the European version of the Chevrolet Bolt, at the Paris Motor Show in October. Second, General Motors has outdone itself in brand confusion, topping the Bolt/Volt ridiculousness. Opel isn't giving a single-charge range for the Ampera-e but the company is promising a "significantly longer range" than other electric vehicles. The Bolt is estimated to have a 200-mile range on the EPA scale, so whatever the Opel achieves on the European cycle will be done with the same batteries and motor as the Chevy. Opel is also looking to appeal to the auto enthusiasts with other factoids, which are basically just Bolt stats translated into metric. For instance, the Ampera-e will be able to go 0 to 50 kilometers per hour (which is 31 miles per hour to us Americans, but we're talking Europe here) in just 3.2 seconds. And for those looking to stay connected, as many as seven mobile devices can attached to the car's wireless hot spot. GM said in February that the European of the Bolt would be available across the pond next year, so the most recent bit of news isn't shocking. Still, General Motors continues to create confusion between all-electric Bolt and the extended-range plug-in Volt. It's already been reported that the Korean symbol and pronunciation of what is "B" in English is identical to the English "V," meaning that there is no difference between "Bolt" and "Volt" in that country (though there are no plans to sell the Bolt in South Korea as of yet). Now, in Europe, they're taking the name they used to use for the European of the Volt — Ampera — and merely adding an "-e" at the end of it. For those looking to be less confused, take a look at Opel's press release here. Related Video: Featured Gallery 2017 Opel Ampera-e: Paris 2016 View 11 Photos News Source: Opel via Hybrid CarsImage Credit: Live photos copyright 2016 Drew Phillips / Autoblog Green Paris Motor Show Chevrolet GM Opel Electric Chevy Bolt volt ampera opel ampera-e ampera-e

GM to invest $150 million in Flint to boost heavy-duty pickup production

FLINT, Mich. — General Motors President Mark Reuss said on Wednesday that the automaker is investing about $150 million at its Flint Assembly plant in Michigan to boost production of heavy duty trucks by another 40,000 vehicles a year. Reuss announced the investment at the Flint truck assembly plant wearing a United Auto Workers pin. The Detroit automaker had announced back in February it was adding 1,000 jobs in Flint to build a new generation of heavy-duty pickup trucks. GM did not say that the latest investment would add more jobs at the plant, but Reuss said there could be opportunities to add workers as the launch of the automaker's new trucks progresses. GM has been under pressure from President Donald Trump and lawmakers of both parties to add jobs in the United States after it said last November it would idle the Chevy Cruze assembly plant in Lordstown, Ohio, and likewise had no new products for three other U.S. manufacturing plants. The Flint investment will include upgrades to the plant's conveyors and other new tooling, and will be completed in the first half of 2020. GM has invested more than $1.6 billion in the plant since 2013. Last month, GM said it would invest $24 million to increase truck production at its assembly plant in Fort Wayne, Indiana, which makes Chevrolet Silverado and GMC Sierra models. Sales of heavy-duty pickups in the United States have grown to more than 600,000 vehicles a year, up more than 20 percent since 2013, according to industry data. Prices for luxury models can easily top $70,000. GM's Chevrolet and GMC brands have long trailed Ford's F-series heavy duty trucks in the lucrative segment. The new Chevrolet and GMC heavy duty trucks have been re-engineered to tow heavier trailers, and keep pace in what has become an arms race among the Detroit Three automakers to claim superior torque and towing capability. Related: Silverado HD vs. 2019 Ram, Ford heavy duty trucks: How they compare on paper