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The superior formability and local ductility of the emerging class of third generation of advanced high-strength steels (3rd Gen AHSS) compared to their conventional counterparts of the same strength level offer significant advantages for automotive lightweighting and enhanced crash performance. Nevertheless, studies on the material behavior of 3rd Gen AHSS have been limited and there is some uncertainty surrounding the applicability of developed methodologies for conventional dual-phase (DP) steels to this new class of AHSS. The present paper provides a comprehensive study on the quasi-static and dynamic constitutive behavior, formability characterization and prediction, and the fracture behavior of two commercial 3rd Gen AHSS with an ultimate strength of 1180 MPa that will be contrasted with a conventional DP1180. The hardening response to large strain levels was determined experimentally using tensile and shear tests and then validated with 3-D simulations of tensile tests.