$349,000 starting price for flagship performance car

Local pricing has been announced for the 2017 Mercedes-AMG GT R, which will start from $349,000 plus on-road costs when it launches in Australia this July.

That positions the AMG flagship supercar $50,000 above the current GT S, though the gap will also be filled with the GT C coupe and roadster in the third quarter.

Under the bonnet of the GT R is an uprated version of the 4.0-litre twin-turbo V8 used in numerous AMG models, developing 430kW of power and 700Nm of torque.

All that grunt is sent to the rear wheels via a seven-speed dual-clutch transmission.

AMG GT R; 2016; Landstraße; Exterrieur: AMG Green Hell magno; Kraftstoffverbrauch kombiniert: 11,4 l/100 km, CO2-Emissionen kombiniert: 259 g/km AMG GT R; 2016; country road; Exterior: AMG Green Hell magno; Fuel consumption, combined: 11.4 l/100 km, CO2 emissions, combined: 259 g/km

The GT R claims a 0-100km/h sprint in 3.6 seconds, on its way to a top speed of 318km/h.

In December the GT R joined the supercar elite by lapping the iconic Nurburgring race circuit in 7 minutes and 10 seconds, making it quicker around the 'Ring than the Dodge Viper ACR (7:12), Ferrari 488 GTB (7:21) and the Lexus LFA with Nurburgring Pack (7:14).

Helping the GT R achieve its impressive lap time is the more aggressive aero kit, inspired by the AMG GT3 race car, along with four-wheel steering and an active aerodynamics system concealed in the underbody in front of the engine.

Final specification and options pricing will be revealed closer to launch, so stay tuned for an update.

AMG GT R; 2016; Studio; Interieur: Leder Nappa/Mikrofaser Dinamica Schwarz, AMG Sportsitze; Kraftstoffverbrauch kombiniert: 11,4 l/100 km, CO2-Emissionen kombiniert: 259 g/km AMG GT R; 2016; studio; Interior: nappa leather / DINAMICA microfibre upholstery, AMG sport seats; Fuel consumption, combined: 11.4 l/100 km, CO2 emissions, combined: 259 g/km

In the meantime, you can catch the AMG GT R at the 2017 Bathurst 12 Hour over the weekend.