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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.

2023 Lamborghini Urus Performante revealed: less weight, more power

The name and design of the Pikes Peak record-setting Lamborghini Urus have finally been revealed. The 2023 Lamborghini Urus Performante is the new range-topper featuring aerodynamic improvements, lighter weight, new suspension and a dash of extra power for good measure. Together, the improvements make it the best performing Urus yet. The design changes are subtle, but noticeable, which is ironic for what's arguably the least subtle SUV on the market. The front bumper, hood and rear bumper have all been redesigned and feature more carbon fiber. The hood has an air extractor, too. A new front splitter and a rear wing have been added. The fenders have been widened, too to accommodate wider wheels and tires. Overall, downforce has been increased by 8%, and though no number was given, Lamborghini says drag has actually been decreased. Lamborghini also made some  Weight has been decreased by a sizable 104 pounds in total. The increased use of carbon fiber parts is part of that equation, and another part is the standard Akrapovic titanium exhaust system. The Urus Performante drops the standard SUV's air suspension for fixed steel springs that have a stiffer spring rate and lower the SUV. It still has electronically adjustable shocks, four-wheel steering, rear torque vectoring and multiple drive modes. Tuning on all of these have been updated for the Performante, and a Rally mode has been added for tail-happy dirt driving. Horsepower from the twin-turbo V8 is slightly increased, as well, to 657 horsepower (or a hellacious 666 CV in European units) and 627 pound-feet of torque. All of these changes allow the Urus Performante to get to 62 mph in 3.3 seconds, an improvement of 0.3 over the regular model. Its top speed remains at 190 mph. So it's slightly slower to 60 mph than a Porsche Cayenne Turbo GT, but has a higher top speed. And of course, it holds the Pikes Peak record for a production SUV at 10 minutes 32.064 seconds. The previous record holder was the Bentley Bentayga Speed with a 10-minute 49.902-second time. Lamborghini will begin delivering Urus Performantes by the end of the year. Pricing without destination starts at $260,676. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

This is Lamborghini's evil-looking new racecar

As a part of the festivities to launch its Aventador Roadster model, Lamborghini has announced that is returning to racing with the new Gallardo GT3 FL2 and its in-house race team, Lamborghini Squadra Corse. The new race-spec Gallardo, co-developed with Reiter Engineering, will initially compete in motorsports series such as the Italian GT3 Championship, Asia Le Mans Series and the single-make Blancpain Super Trofeo Championship. Additional series will be announced later including races in the US next year - possibly as a part of the new Grand-Am/American Le Mans Series series.
Reiter Engineering has been building racing Lamborghinis since 2000, but this will be the first time it has worked in cooperation with the automaker to create a car.Other than the obvious aero changes such as the front splitter, rear diffuser and massive rear wing, the 2013 Lamborghini Gallardo GT3 FL2 also received some weight reduction, better brakes and engine cooling and, surprisingly, improved fuel consumption. The car dropped about 55 pounds compared to a standard Gallardo, and since it was designed to compete in endurance races, it was given "24-hour" brakes, although we don't actually know what changes were made.
Deliveries of the Gallardo GT3 FL2 will begin in March with a starting price of 320,000 euros, or around $430,000. Scroll down for more details about Lambo's newest racer.