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Australia's March new vehicle sales round out record Q1-VFACTS

From Reuters - April 4, 2018

SYDNEY, April 5 (Reuters) - Australian new vehicle sales enjoyed another strong month in March as sports utilities flew off the lots, setting the seal on a robust first quarter for the industry.

The Australian Federal Chamber of Automotive Industries VFACTS report on Thursday showed 106,988 new vehicles were sold in March, up 1.5 percent on the same month of last year. This March had one less selling day than in 2017.

The increase followed record sales in both February and January and took sales for the first quarter 4.4 percent higher than the same quarter last year, a promising omen for consumer spending.

To have the market at 4.4 percent ahead of last years record total is a clear vote of consumer confidence in the economys stability and low interest rates, both key factors which encourage private buyers and businesses into new vehicles, said FCAI chief executive Tony Weber.

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