It is not a new model since it has been on sale in Europe since June 2011.
(After claiming the US would never get this, it looks like they changed their minds.)
Not pricing yet, but it should be a bit above the new A3 sedan which starts at $30 000.
The US model gets quite a long list of standard equipment:
-200HP 2.0 Liter Turbo (Less power than the same engine in the GTI or Beetle)
FWD is standard and Quattro is an option.
The whole thing looks Audi generic. A blend of everything else they make.
The new Mercedes GLA seems a bit roomier. And a much more original design in my opinion.
We will have to see how these 2 will be priced in the US.
As the A3 and CLA sedans are about the same price.