New car sales are rebounding hard and fast

The Federal Chamber of Automotive Industries (FCAI) has released new car sales results for March, which continue to rebound hard from their October 2020 low.

Just over 100,000 new cars were sold in Australia in March, up 22.4% on March 2020 and the strongest March result since 2018.

This growth was driven by sales of SUVs (+32.0%) and Commercial Vehicles (+29.9%), which offset ongoing weak Passenger Vehicle sales (-1.9%).

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