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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 Bentley Continental GT Speed debuts with more power, big handling improvements

Fast news is coming out of the UK today in the form of a new Bentley Continental GT Speed. Similar to the previous generations of the Continental GT, this latest version is getting the Speed treatment. Bentley may be talking endlessly about its green future, but until that materializes, the British marque is continuing to pump out W12 master classes of luxury and speed. The idea is the same as all “Speed” versions of recent Bentleys. Add power, increase handling abilities, and make it look faster. Power from the 6.0-liter twin-turbo W12 increases to 650 horsepower (24 extra ponies), while torque remains constant at 664 pound-feet. The extra power comes from increasing the manifold pressure in the upper rev range, meaning the extra power is all the top. This results in a 0.1-second reduction in the 0-60 mph time, which is now down to 3.5 seconds. Top speed is a lofty 208 mph, which is a 1 mph increase from the non-Speed. See, itÂ’s speedier! While the power gains are admittedly small, the other performance improvements Bentley made look like theyÂ’ll be much more noticeable from behind the wheel. For one, the eight-speed dual-clutch transmission reportedly shifts twice as fast in Sport mode as it does in the regular W12 model. The engine and transmission calibration is also revised to make its upshifts higher in the rev band and downshift earlier. Bentley says the exhaust is much louder with greater “character” than the standard car, too. The chassis and drive system get significant updates for better handling. The car's big new party trick is four-wheel steering, which is becoming increasingly common for large luxury cars. As you might expect, the rear wheels turn opposite the fronts at low speeds for better agility, and the rears turn the same direction as the fronts at high speeds for better stability. This means the Continental GT Speed should feel more nimble and quick on its feet than lesser versions.  Additionally, Bentley says itÂ’s using a new all-wheel-drive torque split and traction control calibration “to provide a noticeable character shift” for the Speed. Basically, theyÂ’re loosening the reins a bit, which will ultimately result in the Speed feeling more tail-happy and eager to rotate in corners. Brake-based torque vectoring is implemented in the Speed for when you want to power through corners more efficiently, too.

VW makes $23K on every Porsche sold, more than Bentley or Lamborghini

It's a good time to be in the luxury car business. In Volkswagen Group's financial report for the 2013 fiscal year, it is revealed that that Porsche enjoyed an operating margin of 18 percent. That means the Stuttgart brand made on average about $23,200 per car sold, according to BusinessWeek. Bentley wasn't far behind, and Audi (which was combined with Lamborghini) posted a 10.1 percent margin. This compares to only around 2.9 percent for the Volkswagen brand.
"Luxury brands are on fire," said Dave Sullivan, an industry analyst at AutoPacific. He said that the average profit margin is between six and eight percent. Brands like Porsche and Bentley have the benefit of competing in rarefied markets. Buyers looking at one their vehicles have fewer models to shop against and don't care as much about price. They can also charge more for options, which further boosts income, according to BusinessWeek.
In a way, we should be more impressed by the continued success from Audi. Its models generally have direct competitors in every segment from the other premium automakers. Plus, their buyers aren't the captains of industry who are shopping for a Bentley. Still, the Four Rings is leading rivals in sales so far this year.