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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.

Son surprises his dad by restoring his 1949 pickup for Christmas

Norman Meal, an 83-year-old retired farmer from Rushville, IN, nearly missed his big Christmas gift when his son, Kyle, first presented it to him. Norman was oblivious and was looking all over the garage floor until Kyle pointed out a satin black pickup with a bow on it parked inside. This wasn't just another case of a child buying a parent a dream vehicle; the '49 GMC sitting there was Norman's very first truck that was restored and ready to drive. According to Fox 59 WXIN, Norman's father purchased the GMC in 1949, and Norman bought it from him in the mid '50s to use on the farm. However, for about the past 13 years, the truck had been rotting away in the garage of one of Kyle's friends. As a perfect gift to his dad, Kyle took the pickup to a restoration shop to make the old vehicle roadworthy again. Practically everything was replaced – except for the horn. Thankfully, Kyle filmed his dad's reaction to getting the GMC. Check it out and watch them take a drive in the heartwarming video above.

2017 GMC Acadia adds four-cylinder and All Terrain model

General Motors has officially started the process of updating its long-in-the-tooth fullsize CUVs by unveiling the second-generation GMC Acadia at the 2016 Detroit Auto Show. While the Acadia is 700 pounds lighter, it's also shorter and narrower, which means it's not quite the people mover it used to be. You'll no longer be able to haul eight passengers, although there will still be five-, six-, and seven-passenger offerings. While families might not be thrilled with the loss of a seat, the lighter weight is a net win. Not only will the V6 model feel more powerful and efficient – in addition to the lower curb weight, there's a new, 310-horsepower engine – but it will also likely be more economical. GM estimates the front-drive V6 will return 25 miles per gallon on the freeway, compared to 24 mpg for the current front driver, but city fuel economy remains pegged at 17 mpg. In a move we're not entirely sold on, though, the Acadia will also adopt a four-cylinder engine, and no, it's not GM's highly regarded 2.0-liter turbo. Instead, you'll be able to order this 4,000-pound CUV with a 2.5-liter, 194-horsepower four-cylinder. What it won't be able to provide in straight-line speed, it will make up for with fuel economy. GM is wagering the front-drive, four-cylinder Acadia will net 22 mpg in the city and 28 on the highway. Both engines are paired with a HydraMatic 6T75 six-speed automatic. A new All Terrain model is said to be optimized for wet, snowy and icy conditions, and its drive mode selector removes the Off Road selection in favor of All Terrain. We have live images of both the new Acadia Denali, as well as the new-for-2017 All Terrain model, direct from the floor of the 2016 Detroit Auto Show. There's also a video of the full GMC press conference with reactions from our editors. Check them out. GMC Introduces All-New 2017 Acadia * 700-lb. lighter, more efficient crossover aimed at heart of midsize segment * Expanded range of available active safety features, including Front Pedestrian Braking and Surround Vision Camera * New powertrains include a 2.5L I-4, offering a GM-est. 28 mpg hwy, and an available est. 310-hp 3.6L V-6 * Acadia Denali with new, exclusive Continuously Variable Ride Control * New Acadia All Terrain with an advanced AWD system with Active Twin Clutch * On sale this spring DETROIT, Tuesday, Jan.