Mercedes-Benz might be returning to the days when corporate executives and only the affluent could afford to roll down the street in German luxury.
That’s because a new Benz reached the average price of €72,900 ($76,590) in 2022, a 43% increase over 2019, Bloomberg Opinion Chris Bryant pointed out in a tweet.
“That chimes with the carmaker’s push even further upmarket by focusing on top-end models like the S-Class sedan to bolster profits. The company has been working through pent-up demand after chip shortages curbed production last year,” Bloomberg said.
The German automaker appears to be taking a different path versus the last decade of providing entry-level models for the average person.
Bloomberg also pointed out:
Mercedes isn’t alone. Around the world, manufacturers are reaping the benefits of selling fewer but more expensive cars. In the US, average monthly payments for a new car nearly doubled from late 2019. And as battery-powered vehicles tend to cost more than the average combustion-engine car, the shift to EVs may make the affordability crisis even worse.
Earlier this week, we said shiny new vehicles are out of reach for many Americans.
Tyler Durden
Sat, 02/18/2023 – 07:35
