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My C55 was built in the crossover period when automatics were rapidly evolving- all other C class models had a 7 speed auto that was very clever and pretty abstemious with regards to fuel. The C55 has a four speed plus overdrive/maybe five speed box potentially made from girders and rivets from a bridge building supplier. Why? Because the engines torque destroyed the 7 speed in testing, whereas the ante-diluvian 4/5 speed coped fine. Thirsty mind.
Losses in the torque converter, mostly.
Also, autos tended to have fewer gears. No longer the case though.