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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.

Toyota Yaris iA, Mazda CX-3 sales show crossover formula isn't an automatic win

While 2017 was another watershed year for crossovers, in one interesting case, a crossover had its lunch eaten by its sedan counterpart. In the past year, Toyota sold nearly 36,000 Yaris iAs, a sedan that is identical to the foreign-market Mazda2 in everything but Toyota's ugly front bumper. In the same time frame, Mazda sold just over 16,000 CX-3s, a subcompact crossover based on the Mazda2. Not only that, but the Yaris iA saw an increase of around 8,000 units over 2016, and the CX-3 sold about 2,000 fewer units than in 2016. View 29 Photos There are a few reasons this is surprising. First of course is that the crossover market is surface-of-the-sun hot right now, so much so that primarily crossover-building brand Subaru saw its best sales year ever last year. Even Mazda's other crossovers, the CX-5 and CX-9 saw better sales in 2017 than in 2016. But on paper, the CX-3 has a number of advantages compared to the Yaris iA. The CX-3 has a larger 2.0-liter four-cylinder that makes about 40 more horsepower than the 1.5-liter engine in the Toyota. Also, while the cargo area behind the rear seats in the CX-3 is about one cubic foot smaller than the iA, it has the added flexibility of being a hatchback, and thus having more capability when it comes to large, bulky items. And of course, the CX-3 is quite a shapely machine compared with the awkward, angry-looking iA. That's not to say the iA doesn't have any of its own advantages. It gets 3 more mpg in the city and 6 more on the highway than the CX-3. It also costs roughly $3,000 to $4,000 less than a CX-3 and can be found at more dealers than the Mazda. But it's still surprising that a car, especially a sedan, can outsell a mechanically very similar crossover. Apparently the formula of adding more ground clearance and plastic fenders isn't foolproof. Then again, maybe it's not such a big deal to Mazda, since the CX-3's total sales were just over a tenth that of the Mazda CX-5. Related Video:

So, just how different are the Fiat 124 Spider and Mazda MX-5 Miata?

"We leveraged a great platform." That's how Bob Broderdorf, Jr., Fiat's North American director, summarizes the creation of the 124 Spider. We all know Fiat's new roadster shares its underpinnings with the fourth-generation Mazda MX-5 Miata, but there are a lot of key differences to keep them separate in the eyes of consumers. Mazda may have engineered the platform, but Fiat added many of its own touches. Here, we'll take a closer look at the spec sheets of the two cars, and summarize the major differences between the Japanese and Italian roadsters. If you need a refresher, read our full First Drive of the 2016 MX-5 Miata, and glance at all the Fiat 124 Spider details in this post. Design Fiat Chrysler design lead Ralph Gilles is super excited about this car. "I think it's going to change lives," he told the assembled media at an event in Auburn Hills, MI, earlier this month. Yes, it's definitely exciting to add a small roadster to any lineup, especially one that uses such a proven platform. But we're not sure people are going to get all that jazzed about it from a design standpoint. You'll either love it or hate it, and we're kind of leaning toward the latter. Every single body panel is new, and the design is "100 percent Italian." There are a number of creases and angles throughout the exterior, with a squared-off rear end and rectangular taillamps. Fiat trusts you'll be able to spot the similarities between the new 124 Spider and the original, but we're not so sure. We can see a bit of the old car's grille on the new car's face, and the dual hood blisters are a nice throwback touch, but that's about it. Trust us when we say that this car looks way better in photos. In person, it really didn't wow us. Of course, beauty is in the eye of the beholder. One colleague told us his wife, a long-time Miata owner, hates the look of the new one but will absolutely adore the Fiat. Good for her, and good for Fiat. But based on design alone, we'll take the Mazda every single time. What about you? Dimensions When Broderdorf said Fiat leveraged the Miata's platform, that means the Italians took it as-is. The two cars ride on an identical, 90.9-inch wheelbase. The front and rear tracks lengths are the same, at 58.9 and 59.1 inches, respectively. But that's where the similarities end.