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The Lamborghini Huracan Performante lapped the Nurburgring in under 7 minutes

Lamborghini just released new footage of its Huracan Performante at the Nurburgring, and along with it some big news. The car managed to lap the 'Ring in a stunningly quick time of 6:52. That time puts it ahead of the Porsche 918 Spyder's record of 6:57 by a massive 5 seconds. It's also just 4 seconds shy of the Radical SR8LM, which barely qualifies as a street-legal car. Though the Huracan Performante isn't the first Lamborghini to crack the seven-minute mark at the Nurburgring, it's done it by the largest margin. The Aventador LP750-4 SV was the first Lambo under 7 minutes with a time of 6:59.73. Lamborghini hasn't released specifications for this new Huracan, but it reportedly produces 630 horsepower from a V10 engine, which is substantially less than its slower 740-horsepower Aventador SV sibling. Odds are it was helped on the track by lighter weight, and the reported active aerodynamics on-board. Check out the video above in its entirety. And then check back during the Geneva Show to see the full reveal of this monstrously fast Lambo. Related Video:

Driving instructor killed in Lamborghini crash at Disney racetrack [w/video]

We're saddened to report that a passenger was killed yesterday in a crash at Walt Disney World Speedway in Orlando, FL. The crash reportedly occurred at 3:30 PM on Sunday, when 24-year-old Tavon Watson of Kissimmee, FL, lost control of a Lamborghini he was piloting as part of the Exotic Driving Experience and struck a guardrail. Watson was taken to the hospital with minor injuries, but the instructor riding shotgun – 36-year-old Gary Terry of Davenport, FL – was pronounced dead at the scene. The attraction is operated by Petty Holdings, which released a statement expressing its condolences for the incident: "On behalf of everyone in the organization, it is with a very heavy heart that we extend our deepest sympathies to those involved in today's tragic accident in Orlando." The image above was shot by local news channel WFTV and appears to show a white Lamborghini Gallardo - one of the vehicles offered as part of the program alongside an Audi R8, Nissan GT-R, Porsche 911 and a pair of Ferraris. Though it took place on private property, the incident is reportedly under investigation by the Florida Highway Patrol. Just a couple of months ago, we reported that Disney was planning to close the speedway in order to make "transportation improvements" for the adjacent theme park. Though we doubt the facility could be blamed for the crash, we wouldn't be surprised to see Disney accelerate plans for the track's closure in the wake of this most unfortunate incident.

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.