16.01.201801:50:00UTC+00Australia New Vehicle Sales Jump to Record Highs in December

Sales of new vehicles in Australia soared by the most since 2012 in December to reach a record peaks for the month and the year, adding to indications of an acceleration in consumer spending following a prolonged lull.

According to Australian Bureau of Statistics data, sales surged 4.5 percent in December to a seasonally adjusted 103,743, a marked step up from the previous month's 0.2 percent rise and the strongest since August 2012.

Sales were up 7.6 percent than in December 2016, and a total of 1.9 million vehicles were sold in 2017.

Sport-utility vehicle sales increased 7.2 percent in December, from November, to hit another record high. Sales in the “other” sector which comprises mainly commercial vehicles also shot up 7.2 percent in a promising sign for business investment.

Over the year, SUVs increased 19.3 percent and other vehicles grew 19.8 percent, while passenger car sales dropped 11 percent.

The ABS said this would be the last release of the series, which is based on previously released figures from the Federal Chamber of Automotive Industries.

The results mirror data released by the Federal Chamber of Automotive Industries last week, which found SUV sales surpassed other car sales for the first time in Australia in 2017.

FCAI data shows that Australians had bought a total of 1,189,116 vehicles over the past 12 months, a rise of 0.9 percent in 2016.