The ABS ceased its new car sales report in December. However, the Federal Chamber of Automotive Industries (FCAI) still provides monthly sales data at the national level, which reveals that new car sales climbed to record highs in March, with Sports Utility Vehicles (SUVs) dominating passenger motor vehicles (PMVs):
A record March result of 106,988 sales delivered a strong 4.4 per cent first quarter growth for the Australian new vehicle market according to the motor industry’s official statistical service VFACTS.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
