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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 Finds CO2 'Irregularites', SEMA Recap, and More | Autoblog Minute

Volkswagen's diesel emissions scandal gets a new wrinkle, US regulators hit Takata Corporation with a substantial fine, and we head to Vegas for a look at tuner paradise at the 2015 SEMA show. Autoblog Senior Editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Acura Chevrolet Honda Mazda Mitsubishi Toyota Autoblog Minute Videos Original Video Acura Legend

Franchitti, Kanaan, and Dixon prank young IndyCar driver

The 20-year-old Sage Karam is a rising star in racing after scoring the 2013 Indy Lights Championship and taking ninth place in the 2014 Indianapolis 500. He's now competing for Chip Ganasi Racing, one of the top teams in the IndyCar Series, and counts this year's pole sitter Scott Dixon and former winner Tony Kanaan as teammates. Of course, being so young and a new member of the squad, some lighthearted hazing is to be expected. Dixon, Kanaan, and three-time Indy 500 winner Dario Franchitti decided to play a little prank on Karam. While ostensibly detailing his Chevrolet Camaro, the three joking racecar drivers turned it into the Karamo. Check out the video above to see exactly what that means. After some scary crashes going into this year's event, it's refreshing to watch some cheery things happening at Indy.