Greece: There are more Porsche Cayennes than tax payers who can afford them image

A weird situation has come to light in Greece and after the country is close to entering default, recent surveys have shown that there are actually more Porsche Cayenne SUVs locally than tax payers who can afford them, after millions of residents underreported their incomes so they don’t pay income taxes.

According to the guys over at jalopnik.com, who quoted a Greek economist named Herakles Polemarchakis, there are more Porsche Cayenne vehicles in the country than people who declared and paid taxes to an annual income of over 50.000 EUR.

“A couple of years ago, there were more Cayennes circulating in Greece than individuals who declared and paid taxes on an annual income of more than €50.000, a figure only slightly above the vehicle’s list price”, as Polemarchakis wrote in the recent Economic Research Institute bulletin.

After a quick research on the internet we found out that the highest rate of Porsche Cayenne is in an agricultural centre and national transportation hub, which is linked by rail and road to the Volos port, Athens and Thessaloniki, so in English, peasants love the German SUV.

As a reminder, the Porsche Cayenne is a five seat mid-size luxury crossover which is being produced by the German automaker since 2002, with North American sales beginning in 2003.

  • Marco

    hahahaha … no one pays taxes in Greece !