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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.

GMC looks to space with the Hummer EV Omega Edition

The Hummer EV is nothing if not outlandish. Everything about it is over the top, from its size to its weight, but the folks at GMC felt it needed something more to stand out. Enter the 2024 GMC Hummer EV Omega Edition, an enormous matte blue vehicle with unique features and an exclusive price tag. The special edition builds on the 3X truck and SUV models with a unique Neptune Blue Matte paint color and black exterior trim pieces. It also brings an off-road package, exclusive 18-inch wheels, the MultiPro tailgate with a Kicker audio system, unique interior carpeting, and a transparent roof. In addition to the wheels and 35-inch mud-terrain tires, the off-road package brings underbody skid plates and additional off-road camera views. GMC said it took inspiration for the Hummer EV from the “endless expanse of space,” which is likely true since the vehicle is about as efficient as a Saturn V rocket. Interestingly, the automaker is using the Miami Grand Prix as the launchpad for the EV, offering 0-60 sprints to invited attendees at the event. The Hummer EV Omega Edition Pickup gets a 24-module battery and starts at $149,995, while the SUV gets a 20-module battery and a $139,995 starting price. The hard-to-get EV is exceedingly rare in its standard form, and the Omega Edition is only available to existing order holders, so itÂ’s unlikely any of us will see the unique blue 'ute anytime soon. Despite its ridiculousness, the Hummer EVÂ’s wait list extends into multiple years for some buyers. GMC took thousands of orders and only built 1,000 units in March, so you can see how wait times quickly pile up. That said, production nearly doubled between February and March, giving hope to impatient order-holders. ItÂ’s not possible to place an order at this time, so if you donÂ’t have a reservation already, it might be time to look at a different EV. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2022 GMC Yukon AT4 to offer 6.2-liter V8

A year ago, GM said it was considering making its 6.2-liter V8 available outside the flagship trims of its full-sized SUV trio of Chevrolet Tahoe and Suburban, and GMC Yukon. There has been a year of gnashing teeth on GM forums since the automaker decided to meditate on the issue, but GM Authority reports The General has finally made the call — the 2022 Yukon AT4 will offer the 6.2-liter. This follows last week's news that three 2022 Chevrolet Tahoe and Suburban trims would also add the 6.2-liter as an option. With the Yukon Denali already in the 6.2-liter camp, only the Yukon SLE and SLT will be left out. Those latter two levels will continue to offer the 3.0-liter Duramax diesel as the optional engine, which the AT4 trim cannot take advantage of because the AT4's front fascia and skid plate interfere with the diesel's plumbing. The 5.3-liter V8 that's the standard engine makes 355 horsepower and 383 pound-feet of torque. The 6.2-liter makes 420 hp and 460 lb-ft. As has been pointed out, the 5.3-liter can tow 200 pounds more than the 6.2, but fuel economy is a wash — the 5.3 only gains 1 mpg in the city over the 6.2. This is a pure power play. For the moment, it looks like Yukon AT4 buyers won't need to do anything other than check a box to get the 6.2-liter. That's the opposite of what some Tahoe and Suburban buyers will face when trying to get the 6.2-liter for their rigs; outside of the Premier trim, Chevy put the engine behind a paywall of option packages. Since GMC hasn't revealed pricing for the 2022 lineup yet, we don't know what the surcharge will be for the big engine. The GMC Sierra AT4 pickup charges $2,195 to go from the 5.3 to the 6.2, so that's probably in the ballpark. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.