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Thursday, March 23, 2023

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Mercedes-Benz Hikes Vehicle Prices By 43% As Only Rich Can Afford

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

 

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