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.