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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.

2022 Chevrolet Silverado and GMC Sierra now cost more, again

GM Authority put Chevrolet and GMC pickup truck prices under the microscope, spying the same macroscopic issues none of us can avoid seeing: Price increases. The 2022 Chevy Silverado 1500 and 2022 GMC Sierra 1500 have been hit with their third price increases this year. The Heavy Duty versions of those same trucks have been given their fourth price increases this year. Starting with the light-duty options, they've been rung up for another $900 across the board, which breaks down to $800 added to the MSRP and $100 added to the destination charge. The mandatory cost for shipping a truck from the factory to the dealer is now $1,795. That destination fee is now more than 5% of the purchase price of the least expensive 2022 Silverado, the Regular Cab Work Truck trim with a Standard Bed and 2.7-liter turbocharged four-cylinder retailing for $36,395 after destination. And that price is $3,200 more than the initial list price from last December. At the other end, the Silverado ZR2 is up $3,400. Average that out, and the Silverado's MSRP has gone up by nearly $700 every month since initial pricing came out. On the GMC side, the bidding starts at $37,195 for the Regular Cab Pro trim with a Standard Bed, a $4,700 increase over pricing announced last October.  Stepping up a tow rating or two, the Silverado HD is now $1,100 more expensive — $1,000 tacked onto the MSRP, the destination charge plumped another $100 to $1,795. The Silvy 2500 HD now starts at $41,295. The Sierra HD turns the screw a few more degrees, going up by $2,100 after the $100 increase for destination. The low bar for the Sierra 2500 HD is $41,995, a $4,100 rise over the price when it hit dealer lots last summer. Whew. Anyone know where the exit is for this "new normal?" Related video:

2016 GMC Canyon Diesel Quick Spin [w/video]

The 2016 GMC Canyon Diesel and the 2016 Chevrolet Colorado Diesel are basically the same truck. This isn't really news – the two midsize pickups have been discussed side by side since their inception. If you stop reading right now, go to our First Drive story from last week, and replace "Colorado" with "Canyon," you won't miss a beat. Samesies. Looks-wise, the Canyon is a bit more polished overall than the Colorado on which its based. The front fascia has a more upscale, yet tough aura, the squared-off headlamps mimic those of the Sierra, and the alloy wheels – especially those on this SLT tester – are a premium touch. Inside the cabin, it's all carryover stuff from the Chevy truck, just with different badges and some unique color/trim combos. So it's a Colorado Diesel with a Canyon treatment. It's the typical GMC updo. But that's fine by me; this thing's a real sweetheart. Driving Notes Talk about smooth operator. This is one of the least harsh diesel engines I've ever tested, with low levels of vibration. Credit for that goes to the fancy German torque converter, as our own David Gluckman detailed in the Colorado First Drive. There's there's also very little in the way of turbo lag in this truck, aiding the silky character. I kind of miss the "turbo moment" woosh of power, but I'll happily trade that for total overall refinement. GMC hasn't released official fuel economy figures just yet, and my drive route wasn't exactly great for testing the ol' miles per gallon rating. I spent about 45 minutes slogging through traffic in Manhattan (perfect place for a diesel pickup, right?), before getting out onto the highway for another 45 or so. The combined trip returned numbers in the mid-20s, but I have to believe this truck can do better. The steering is vague, the body rolls – it drives like a pickup. That said, even though it's on the larger side of midsize, the Canyon is easy to maneuver, sight lines are great, and it's a generally pleasant-handling truck. The 2.8-liter Duramax diesel engine adds about 200 pounds to the Canyon's overall curb weight, but you don't notice from behind the wheel. Braking feel is smooth and solid, and the truck doesn't feel especially nose-heavy. Despite the anti-aero shape, the Canyon delivers a quiet ride with very little wind or road noise. Credit this to all the sound deadening material added to keep unpleasant diesel chugga-chugga-chugga noises out of the cabin.