Originally Answered: To afford entry level luxury car like Mercedes Benz in India, what should be average income ?
I have been selling Mercedes-Benz cars throughout my career, initially I used to sell to corporates, now I sell to Mercedes-Benz sales staff. (I train them technically to sell a Mercedes-Benz) which makes me eligible to answer this question.
A person whose Income Tax Return (ITR) is of around 15,00,000/- INR , can afford a down payment of 8,00,000/- INR, EMI of 79,632 and monthly cost Of ownership including fuel expense of 17,564 can afford a Luxury Car in India. I have elaborated the above figures in detail in this answer.
If we talk about entry level Luxury Cars, costing is somewhat similar…