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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.

GM Halts Sale Of Most Chevy Cruze Models

General Motors has told dealers to stop selling some 2013 and 2014 Chevrolet Cruze compact cars. But the company won't say why. Dealers say stop-sale orders are routine and almost always made to fix a safety problem. They received the order in an e-mail Thursday, but no reason was given. The move comes as GM deals with fallout from a delayed recall of 1.6 million older small cars to fix an ignition switch problem. The company says the switches can slip out of the run position and shut down the engine. That causes loss of power steering and brakes and disables air bags. GM says the problem has been linked to 31 crashes and at least a dozen deaths. Spokesman Greg Martin says he has no details on the Cruze. Related Gallery Chevy Impala Earns Highest Accolades From Consumer Reports Recalls Chevrolet GM Cruze

Fingers point to dragged-out NHTSA investigation after second death by ARC airbag inflator

Safety advocates have increased criticism of the federal government's National Highway Traffic Safety Administration after an exploding airbag inflator that's been under investigation for more than six years killed a second person.  On Wednesday, NHTSA posted recall documents filed by General Motors that revealed the second death, the driver of a 2015 Chevrolet Traverse SUV with an inflator made by Tennessee company ARC blew apart, spewing shrapnel. No details were given about where and when the death occurred. NHTSA has said that ARC Automotive of Knoxville has manufactured about 8 million inflators used nationwide in vehicles made by General Motors, Fiat Chrysler (now Stellantis), Kia and Hyundai. “NHTSA should have been all over this along time ago,” said Rosemary Shahan, president of California-based Consumers for Auto Reliability and Safety. “There's just no denying that itÂ’s a (safety) defect.” NHTSA, the agency charged with with keeping America's automobiles and roads safe, began investigating ARC inflators in July of 2015 after two people were injured by flying shrapnel. The investigation became more urgent in 2016, when a Canadian woman driving an older Hyundai Elantra was killed by metal airbag fragments. Public records show only a little progress on the probe. In April, the agency posted a memo in saying it was reviewing volumes of information it received from ARC. Safety advocates such as Shahan say that the dragged-out investigation is an example of the deadly consequences that can result from an understaffed and underfunded agency. The second death should not have happened, Shahan said, and vehicles with faulty ARC inflators should have been recalled faster. The agency, Shahan said, is “grossly underfunded," but it still should have sought recalls of the ARC inflators. She said historically NHTSA has taken little action during Republican administrations but has ramped up safety efforts when Democrats control the White House. Messages were left Wednesday by the Associated Press seeking comment from NHTSA and ARC. At this time, relatively few vehicles are effected. The GM recall covers only 550 Chevy Traverse SUVs from the 2013 through 2017 model years, as well as Buick Enclave SUVs from 2008 through 2017. The automaker said in a statement that the faulty front driver's airbag inflators were either installed at the factory or in replacement airbag modules.