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Aston Martin will call the AM-RB 003 the Valhalla

Aston Martin has announced the proper name of its upcoming "AM-RB 003" hypercar: It will be called the Valhalla. The name continues the tradition of Aston Martin model names beginning with the letter V, and it ties neatly into Norse mythology. As Aston Martin CEO Andy Palmer said: "In following the Valkyrie, we knew the Aston Martin Valhalla needed to make a strong statement of its own, yet also offer continuity and a clear connection. Norse mythology contains such powerful language and rich storytelling, it felt only right that the AM-RB 003 should follow the Valkyrie's theme." Witness, then, the available specs of the Valkyrie's upcoming relative. There will be a 500-car production run, and the Valhalla will feature a turbocharged V6 with a hybrid system. The car is all carbon fiber, and it will have an advanced, Vulcan-style sealed oil system that enables quick changes and reuse of the engine oil. The variable airfoil on the rear wing benefits from NASA-level FlexFoil technology, with the ability to adjust the car's downforce without changing the airfoil's angle. No power figures or more specific information has yet been announced. Valhalla production is slated to begin in late 2021. Regarding the Valkyrie, Aston Martin has announced it will race at the 24 Hours of Le Mans in 2021. The year coincides with the 100th anniversary of Aston Martin first racing at the Circuit de la Sarthe.

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.

Behold the Aston Martin SUV: Officially named DBX, coming in 2019

It's official. The Aston Martin DBX SUV is named and it's on its way, folks. Oh, and Aston really wants you to know it can drive on dirt. Every official photo we have of the thing shows it doing something off the pavement. In other definite news on the SUV, it will be revealed in the last quarter of 2019 and be built at Aston Martin's new St. Athan factory in the U.K. Everything else about the tall Aston will remain a mystery for now. But we finally have a decent look at what's coming. The most obvious feature is the V8 Vantage-style grille. It's the most outlandish and distinguishing styling element on the Vantage, but we're not so sure about it on the DBX. There's plenty that looks unfinished behind the fake grille-looking piece, so we wouldn't be prepared to say that the design is what we'll see on the production SUV quite yet. It looks like standard, boring SUV fare down the sides, but then it gets funky in the rear. To our eyes, it looks like there are two spoilers back there — one extending from the roof, then another ducktail-looking thing coming out of the hatch. Once again, the design doesn't strike us as fully-baked yet, so it's tough to say what the rear end is going to end up like. The little exhaust outlets poking out of the bumper are pretty cool, though. This prototype pictured is being put through a Welsh rally stage for testing purposes, one of many different environments in which Aston says it wants the DBX to excel. The other notable spot is the Nurburgring, but we'd expect an Aston Martin SUV to handle well. We don't think an electrified version is coming right away, but Aston is building it in the same factory it says will be the brand's "Home of Electrification." It's safe to assume a hybrid or fully-electric vehicle from Aston will be coming when we get to the next decade, especially with the way Aston is talking. Related video: Featured Gallery Aston Martin DBX prototype View 13 Photos Image Credit: Aston Martin Aston Martin Crossover SUV Luxury Off-Road Vehicles Performance aston martin dbx