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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.

NHTSA ends GM steering investigation without seeking a recall

DETROIT — U.S. safety regulators have closed an investigation into sticky power steering on thousands of older General Motors SUVs and will not seek a recall. The National Highway Traffic Safety Administration says GM in 2014 issued “special coverage” to fix the problem on the Chevrolet Equinox, GMC Terrain and other models. The coverage replaced a steering gear with an improved one. The agency said a recall isn't needed because of the coverage and low complaint and warranty repair rates. The agency opened the probe in June of 2020 into steering problems affecting an estimated 781,000 of the SUVs from the 2010 through 2012 model years. Increased friction could make it feel like the steering wheel is stuck. But GM said the SUVs could still be turned, although with more effort than usual. “In view of the special coverage, low rate of failure and low potential hazard to drivers, this preliminary evaluation is closed,” the agency wrote in documents posted Wednesday on its website. Government/Legal Recalls Chevrolet GMC Safety

2020 GMC Acadia AT4 priced just a little more than the SLT trim

Cars Direct has seen the order guide pricing the 2020 Acadia AT4 at $42,495 after destination; that means a $41,300 MSRP plus $1,195 for shipping and handling. GMC has left a lot of pricing room between the rugged, all-wheel drive AT4 and the dressed-up, top-shelf Acadia Denali with AWD, the latter costing $49,495, a $7,000 difference. The spread's blown out some by what appears to be an $800 increase for the 2020 Acadia Denali with all-wheel drive. The 2019 model costs $48,695. On the other hand, it looks like the 200 Acadia SLT trim has gone down in price. Cars Direct says that model will run $41,995, which is $300 less than the 2019 version that goes for $42,295 after destination. The new price leaves a $500 gap between the SLT-1 model with all-wheel drive and the AT4 trim, a figure that's a no-brainer to justify for any buyers trying to get a more butch curb appeal.     The Acadia AT4 package comes standard with all-wheel drive and the 3.6-liter V6 with 310 horsepower and 271 pound-feet of torque, puts black chrome on the grille, and nabs a set of exclusive 17-inch wheels on all-terrain tires. The other two engines in the lineup are a new turbocharged 2.0-liter four-cylinder with 230 horsepower and 258 pound-feet of torque, and cylinder deactivation. That motor will be the standard kit on the SLT and Denali trim levels, supplanting the 3.6-liter that's standard on the 2019 models. The entry-level engine carries over, a naturally aspirated 2.5-liter four-cylinder making 193 horsepower and 188 pound-feet of torque.