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First there was the Mercedes-Benz SLR McLaren. Then there was the Mercedes-Benz SLS AMG. Now we have the Mercedes-AMG GT, the latest halo car from the performance division of this storied brand, which was revealed Tuesday at AMG HQ in southern Germany.

The GT shares elements with the soon-to-be discontinued SLS – including the dual-clutch seven-speed transmission, front suspension system and front-mid engine/rear drive layout – but comes to market with a new 4.0-litre twin-turbocharged V-8, as well as a slightly smaller and lighter footprint.

At launch, there are two different versions, the GT and the GT S. The latter arrives to Canada in mid-April of next year, while the GT is scheduled to appear in 2016. The GT S is the higher-performing variant with 503 horsepower, an estimated 0-100 km/h time of 3.8 seconds and a top speed of 310 km/h. The manufacturer has also cited an impressive combined fuel efficiency rating of 9.3 litres/100 km.

The V-8 is reportedly the first sports car engine with turbochargers mounted inside the cylinder banks, a design called "hot inside V" that enables better response and a more compact design. While the current SLS AMG has a sticker price of $248,000, the Mercedes-AMG GT is expected to cost roughly half that in a bid to compete head-to-head with the Porsche 911.

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