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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.

Bentley will race Pikes Peak for the first time — in a Bentayga SUV

Bentley is throwing its hat in the ring for the Pikes Peak International Hill Climb first time, saying it's targeting a new SUV race record with its Bentayga. The British luxury marque will enter the W12 version, not the slightly less-powerful V8 version that it recently unveiled, when the Race to the Clouds takes place June 24. The brand's motorsports department in Crewe, England, is working to develop the vehicle for the 12.42-mile assault under the direction of motorsports director Brian Gush. They'll be working with a 2017 model and its 6.0-liter W12 engine, which makes 600 horsepower and 664 pound-feet of torque and goes 0 to 60 in 4 seconds, its all-wheel-drive transmission, four-mode adjustable air suspension and its 48-volt active anti-roll system. A driver will be announced later. Bentley's motorsports efforts have mostly focused on GT3 versions of its Continental GT coupe, which have a 4.0-liter twin-turbocharged V8 powering the rear wheels and goes on sale in June, and on special-edition models like the Continental 24. So it'll be interesting to see how the motorsports crew tunes the Bentayga, which debuted back in 2015 as the brand's first production SUV and the fastest, most powerful entrant in its segment. The Broadmoor Pikes Peak International Hill Climb is a grueling race up the famed mountain near Colorado Springs, featuring 156 corners and a finish line at 14,115 feet above sea level. This year will be the event's 96th running.Related Video: Featured Gallery 2016 Bentley Bentayga: First Drive View 36 Photos Image Credit: Bentley Motorsports Bentley SUV Luxury Performance pikes peak bentley bentayga Sport Utility

Bentley Continental GT3 grows wings to conquer the Pikes Peak Hill Climb

Apparently, this is a Bentley. That may not be obvious at first glance on account of the … everything, but this winged beast does have a Bentley logo on it. You see, Bentley is headed on back to Pikes Peak for a third (and final) time. The companyÂ’s first two visits saw the production SUV record achieved with the Bentayga W12 and the outright production car record taken with the Continental GT. This time, Bentley is targeting the “Time Attack 1” record, and the Continental GT3 Pikes Peak is its steed of choice. Leading the car's superlative features is what Bentley claims to be “the biggest rear wing ever fitted to a Bentley.” We heartily approve. The aerodynamic package is fully in vogue with other cars built specifically for Pikes Peak. Maximum downforce is generated with the huge wing, a gigantic diffuser, two-plane splitter and aggressive dive planes. ItÂ’s more track rat than elegant race car with the numerous scoops and venting throughout. The exhaust cutouts just aft of the front wheels complete the hooligan package. This Continental may have Bentley lights on it, but the similarities between it and the road car donÂ’t go much further. Details about the engine are limited, but Bentley says itÂ’s a 4.0-liter turbocharged V8 racing engine, not a production V8 or W12. Modifications were made to make it more powerful for this Pikes Peak run, but Bentley also made adjustments for the fuel it will be running in the car. Instead of running this Continental on race fuel, itÂ’s going to be using biofuel-based gasoline. WeÂ’ve heard Porsche make waves about the potential of greener biofuels helping to drastically reduce emissions, and now Bentley is making some noise about the tech, too. In coordination with Porsche (all in the same VW Group house), Bentley is researching how it could use biofuels and “e-fuels” to potentially power both past and future Bentley cars. As of today, Bentley is saying that using these fuels could result in greenhouse gas emissions reductions of up to 85%. Put simply, thatÂ’s huge, if it can be made to work at a large scale. Bentley expressly states that this research into biofuels doesnÂ’t affect its plan to become an electric-only automaker by 2030. Instead, Bentley sees it as a way to allow the brandÂ’s past and current gasoline-powered vehicles to be driven far into the future — just over 80% of all Bentleys ever built are still on the road, according to BentleyÂ’s internal tracking.