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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.

2016 Chevy Colorado Duramax makes 369 lb-ft for $3,730 premium

Since announcing the new Chevrolet Colorado in late 2013, there has been absolutely no secret that the 2.8-liter Duramax diesel would wind up under the hood of the midsize pickup truck for the 2016 model year. It has been a long wait for those wanting the oil-burner, but thankfully, the anticipation is nearly at an end. Chevy is finally officially unleashing details about the four-cylinder, which churns out 181 horsepower and 369 pound-feet of torque. The diesel is available in both LT and Z71 Crew Cab trims, and there's the choice of two- or four-wheel drive. All come with a six-speed automatic gearbox with a standard automatic-locking rear differential. An electronically controlled two-speed transfer case comes on four-wheel drive models, as well. The Z82 trailering package also arrives on all of the Duramax pickups and includes an exclusive integrated trailer brake controller. The first shipment of diesels arrives at dealers this fall with a price of $3,730 on top of a comparably equipped version with the 3.6-liter V6. Customers opting for the Duramax are getting more capability from the Colorado. With a 7,700-pound tow rating on two-wheel drive examples (7,600 pounds with four-wheel drive), drivers can haul 600-700 pounds more behind the truck than its petrol V6 counterpart. Fuel economy numbers haven't been announced yet, but are expected to top the gasoline versions. The engine is also B20 bio-diesel compatible. Beyond being just a good hauler, Chevy is throwing cutting-edge tech into these models. For example, this is the company's first application of a Centrifugal Pendulum Vibration Absorber on the transmission's torque converter. The device is a dampener that cancels out torsional vibration from the engine for a more comfortable ride for occupants. There's also a driver selectable exhaust brake system that uses engine compression to help slow down the truck and reduce brake wear. You can read more about the nuts and bolts of the diesel in Chevy's press release below. Chevrolet Introduces Colorado Duramax Diesel All-new turbo-diesel expands lineup with unparalleled capability, efficiency DETROIT – The fastest-selling truck in the market now offers an available turbo-diesel engine. The 2016 Chevrolet Colorado Duramax diesel takes midsize truck capability and efficiency to unprecedented levels.

How real is the Chevy Bolt EV and will it really cost $30,000?

"This is us bragging that we can do this kind of car." That's how Michael Simcoe, GM's executive director for NA exteriors, described the Chevy Bolt EV concept, which made a surprise appearance at the Detroit Auto Show today. While there was talk of a 2017 production debut, this is for sure a concept vehicle. But that means the ideas behind the vehicle are perhaps more important than the details. For example, no one is talking about what size battery might appear in a production Bolt, but Simcoe would talk about how rapid progress in battery improvements made it possible for GM to make the bold Bolt declaration that promises 200 miles and a price tag of around $30,000 (after incentives). But if the Bolt makes it to market, it won't be until 2017 (as rumored) or later, is it really fair to promote the car as being available with a federal tax credit? For one thing, credits for plug-in vehicles may change in the next few years, but if the laws stay the same, each manufacturer is limited to 200,000 vehicles before the credits start to decline. GM is justifiably proud that it's sold over 70,000 Volts thus far, but with a new model coming out later this year and a few years to go until the Bolt potentially arrives, GM could be pushing right up against that 200,000 limit when the Bolt goes on sale. But Volt executive chief engineer Pam Fletcher told AutoblogGreen that, "We're just trying to take some of the confusion out." "Think about talking to the average consumer," she said. "First, going through the explanation of how the federal tax credit was set up, how it's being used and so on. [In the industry, we] have the luxury of understanding the nuances of that regulation, but right now people who aren't in the marketplace, they don't have the luxury of all that. It's already hard to communicate the details so we gave them data in a way that is what they're used to seeing." There was one question that drove the two-year Bolt gestation and design period, Simcoe said: What does a better battery offer a vehicle designer? "We've got a number of spaces we play in for powertrain technology and obviously electrification is one of them," he said. "With Volt 1 and then the Spark EV, with that development and batteries getting better for us, we started doing some practical packaging to deliver a vehicle which was not the traditional aero form which you see around electric vehicles.