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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.

GM uses wind power to build SUVs, trucks

This week started with a chill, as the Intergovernmental Panel on Climate Change issued a dire report with scientists warning, "The world we know today is not the world we will see in 50 years," with temperatures rising at their current rates. In the meantime, the trend toward purchasing more SUVs and crossovers continues. Most automakers, though, have set goals toward more sustainable production. That includes General Motors, which, somewhat ironically, plans to use wind power to produce many of its vehicles, including pickups and full-size SUVs. As the Detroit Free Press reports, several wind farms are coming online to support cleaner production as part of a partnership between GM and energy producer CMS Enterprises. At the beginning of October, the 100-megawatt Northwest Ohio Wind Farm began producing energy, supplying GM operations in Ohio and Indiana, where manufactured vehicles include the Chevy Cruze, Chevy Silverado and GMC Sierra. Hilltopper Wind Farm in Illinois will begin producing another 100 megawatts for GM manufacturing in the region. In Texas, where GM builds the Chevrolet Tahoe, Chevrolet Suburban, GMC Yukon, GMC Yukon XL and Cadillac Escalade, the automaker is getting 50 megawatts from Cactus Flats Wind Farm beginning October 9. Using wind power isn't just about being green, but also for the sake of price stability. As Rob Threlkeld, GM's global manager of renewable energy told the Free Press, "You don't get the price spikes this way, like you do with fuel, and it reduces the environment footprint of the vehicle you're driving." Threlkeld said that renewable energy has already meant "millions of dollars in savings" for GM. GM plans to power all of its global operations with renewable energy by 2050. This week, the automaker was ranked 76 on the EPA's "National Top 100 List" of green manufacturers. It was the only automotive company listed. Related Video: News Source: Detroit Free Press, GM, EPAImage Credit: GM Green Plants/Manufacturing Chevrolet GM GMC Truck SUV wind power sustainability

Why does the Corvette Stingray have so many vents? Here's why

Just looking at the new 2014 Chevrolet Corvette Stingray, it's not hard to see that the car's design was created with aerodynamics at the forefront, but Chevrolet designers point out exactly what went into designing the iconic coupe in a pair of recently released videos. The videos show the Corvette going through early design phases, including clay models and wind tunnel tests, as well as talking to the car's chief engineer, Tadge Juechter.
Both videos help explain various aspects of the C7 Corvette, but it's the aero tuning of the car that is most interesting. This includes extra attention paid to the lower air dam and vented hood to help reduce drag and lift, while the rear quarter inlets are for differential and transmission cooling. Juechter said that some of these aero-tuned elements were inspired from GM's involvement in racing.
If you have about five minutes and you can't get enough information about the new 'Vette, then check out the videos posted below.