More Used Luxury Cars Being Exported From Greece, Ta Nea Reports

Greece’s recession, higher taxes and falling resale prices is leading to an increase in the export of used luxury cars from the country, Ta Nea reported, without saying where it got the information.

The fall in prices of used luxury cars compared with other European countries has spurred interest from foreign buyers, mainly from Belgium, with cars destined for resale in European and African countries, the newspaper said.

Many of the luxury cars being exported belong to Greek leasing companies with large fleets who have seen a decrease in demand, the Athens-based newspaper said.

To contact the reporter on this story: Tom Stoukas in Athens at astoukas@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net