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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.

First 2015 Chevy Corvette Z06 Sells For One Million Dollars

NASCAR team owner Rick Hendrick loves buying first-built Chevrolet models for charity. He paid $1 million to buy the first production 2014 Corvette Stingray Convertible and $650,000 to get the first 2014 Chevy Camaro Z/28. Hendrick's latest purchase happened at the Barrett-Jackson auction in Palm Beach where he got into a bidding war to pay $1 million to get the first 2015 Corvette Z06. The bidding came quick with the car reaching $100,000 within 3 seconds and hitting $500,000 in about 35 seconds. The money from the sale was donated to the Karmanos Cancer Institute. Related Gallery Harley Earl's Corvette Up For Auction

Vert-A-Pac train cars kept your Chevy Vega's price in check

Our apologies to those who've seen this before, but for the rest of the class, how awesome are these pictures of the Vert-A-Pac shipping system General Motors came up with to ship the Chevrolet Vega back in the 1970s? Developed along with Southern Pacific Railroad, GM was able to double the amount of Vega models it could ship by packing them into the unique storage cars vertically.
At the time, rail cars could fit 15 vehicles each, but Chevrolet was able to lower shipping costs by making it possible to ship 30 Vegas per rail car, in turn allowing the price of the Vega to remain as low as possible. Each rail car had 30 doors that would fold down so that a Vega could be strapped on, and then a forklift would come along and lift the door into place. All the cars were positioned nose down, and since they were shipped with all of their required fluids, certain aspects had to be designed specifically for this type of shipping, including an oil baffle in the engine, a special battery and even a repositioned windshield washer reservoir. See for yourself in our image gallery above.