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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.

Aston Martin DB5s from 'No Time to Die' sampled by Carfection

The excellent Henry Catchpole might have just made the most persuasive argument for restomods using one of the world's and pop culture's most celebrated classics. The Carfection host spent a day at Silverstone with no less than four takes on the Aston Martin DB5 — one of them the showstopping original in gleaming Silver Birch with the license plate BMT 216A, three of them stunt cars used in the next James Bond installment "No Time to Die." Catchpole starts off in the stock vintage two-door, its 4.0-liter straight-six sending about 282 horsepower and 287 pound-feet of torque to the live rear axle to move about 3,300 pounds. It's a thrill to run through apexes, but perhaps more for its pedigree than its prowess; at one point, Catchpole wonders, "How on earth he did some of those car chases with seats like this, I've got no idea." Of course, Bond only had to outrun a couple of even older Mercedes sedans in "Goldfinger." The host then slides into the shotgun seat of one of the ringers, with one-time Subaru-driving rally ace Mark Higgins behind the wheel. Higgins has been a stunt driver in four Bond films now, starting his tenure in a Land Rover Defender in "Quantum of Solace," working his way up to drifting the one-off Aston Martin DB10 at around 90 miles per hour through St. Peter's Square in The Vatican. Higgins explains a bit of what went into the DB5-looking stunt cars built for "No Time to Die," one of them built on a ladder frame chassis dressed in carbon fiber body panels, powered by a modern straight-six engine, suspended with Ohlins dampers. The directive was to get repeatability in tricky environments, and hey, more power and less weight is never a bad thing, either.  When Catchpole takes the track again behind the wheel of the stunt car, you'll want to turn on the closed captions. Even if you don't, Catchpole's barely audible exclamations and facial expressions make it clear which car he'd rather take home, and which he'd leave for the "misogynist alcoholic womanizer of a secret spy with really pretty unresolved violence issues." If all goes well, we'll see both in action — plus two more — when "No Time to Die" hits theaters in November. Related Video:

Aston Martin confirms Mercedes-AMG boss Moers to replace CEO Palmer

Aston Martin confirmed on Tuesday that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer, who stepped down on Monday. The Financial Times newspaper reported over the weekend that Palmer would step down, before he had been informed. A source familiar with the situation had also confirmed to Reuters the planned move. "The board has determined that now is the time for new leadership to deliver our plans," Lawrence Stroll, Aston Martin Lagonda's Executive Chairman said. The company said Moers, who will be based at its headquarters in Warwickshire, had built a reputation for transforming businesses in tough environments during his 25 years in senior roles at Daimler. Germany's Daimler AG owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines. "Under Tobias’ leadership, Mercedes-AMG has more than doubled its product portfolio and quadrupled the number of AMG units sold, with a clear pipeline of further expansion opportunities, especially in electrification of powertrains in the performance segment," Aston Martin said in a statement. "TobiasÂ’ focus on operating and manufacturing efficiency has delivered significant margin expansion. This strong financial performance was supported by the introduction of a clear brand management strategy, which delivered a measurable increase in brand value and awareness." Aston Martin has seen its share price plummet since floating in October 2018. The 107-year old British luxury carmaker earlier this month posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. "All of my and TobiasÂ’ energy will be dedicated to building on the CompanyÂ’s inherent strengths, its brand, its engineering prowess, and the skills of its people to enable Aston Martin to become one of the pre-eminent luxury car brands in the world," Stroll said. Related video: