So much so that a massive number are willing to dodge the taxman so they can afford them. The Telegraph reports:

Jubilation about the German deal to save the euro could prove short-lived if fresh news of Greek tax evasion gains wider currency. There are more Porsche Cayennes registered in Greece than taxpayers declaring an income of 50,000 euros (£43,800) or more, according to research by Professor Herakles Polemarchakis, former head of the Greek prime minister’s economic department.

Those new Cayennes are, indeed, gorgeous and Porsche’s earnings are killing it due to the growing demand for them. But this is crazy – commit tax fraud for an SUV? Now if there were more 918 Spyders in Greece than taxpayers claiming 50k, that would impress me.


Source: Fast cars and loose fiscal morals: there are more Porsches in Greece than taxpayers declaring 50,000 euro incomes


Hat tip, @GSElevator