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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.

Nissan Frontier and a mid-engine Mustang | Autoblog Podcast #622

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale and Associate Editor Byron Hurd. They discuss news about the 2020 and 2021 Nissan Frontier, as well as a mystery Mustang and classic luxury coupes. After that, they talk about cars from the fleet including Chevy Silverados and the long-term Volvo S60 T8. Autoblog Podcast #622 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2020 and 2021 Nissan Frontier updates 1966 mid-engine Mustang prototype Personal luxury coupes Cars we're driving 2020 Chevy Silverado 1500 Trail Boss 2020 Chevy Silverado 2500 HD 2020 Volvo S60 T8 plug-in hybrid Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

GM opens official investigation into C8 Corvette transmission leaks

In March 2020, a month after Chevrolet began customer deliveries of the 2020 C8 Corvette, a GM dealer technician created a Reddit thread about a leaking gearbox in a Corvette with 32 miles. That car hadn't even been sold yet. Since then, as a search of "C8 Corvette transmission leak" shows, it's been tales of woe for some owners. Something in the Tremec TR-9080 transaxle in the back of the mid-engined Corvette doesn't work as it should, the fault able to cause codes that the transmission needs service, or that the driver needs to shift to park. In some cases, the battery would die because of follow-on issues after the initial transmission code, that code preventing the car from powering down. As Autoevolution reports, GM filed paperwork with the National Highway Traffic Safety Administration in August to look into what's going on. Between forum threads and GM's investigation document, there are several issues mentioned. The most common appears to be the dual-clutch transmission leaking fluid due to gasket failures like the one suffered by one owner at 858 miles, and another for an owner currently enduring a second leaking transmission. The Midengined Corvette Forum reported that Chevy engineers redesigned the TR-9080 pan, fitting Corvettes with the new unit at some point in the 2021 model year. The original pan was stamped steel unit affixed to the engine with two studs and 13 bolts, plus "reinforcement plates." The updated pan is said to be a cast aluminum unit affixed with two studs and 17 bolts, omits the reinforcement plates, and gets a new machined new groove around its edge to seat the gasket seal. The GM paperwork now at the NHTSA mentions a P1789 code, and says one reason for it could be "debris on the park position sensor magnet causing an incorrect position reading to the TCM." This might be caused by another issue mentioned in forums, which is clogged transmission filters. GM gives instructions for returning transmission filters to the company, and a poster on one forum said the Corvette tech at the dealer where he bought his Corvette told him the automaker "requires every used transmission filter to be returned to GM."  Whatever's going on, the problems haven't stopped, and they go beyond the P1789 code. Over the weekend, a 2022 Corvette owner posted on Corvette Forums that he got a check engine light on his car after just 850 miles.