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Australia new vehicle sales surge to record in Sept
SYDNEY Oct 15 (Reuters) - Sales of new motor vehicles in Australia surged by the most in 14 months in September to reach an all-time high, a sign consumers have the confidence to splash out on big ticket items even while being cost-conscious on retail spending.
Government figures out on Monday showed new vehicle sales rose by a seasonally adjusted 4.7 percent in September to 98,701, following an upwardly revised 4.3 percent rise in August. Sales were up a hefty 14.4 percent compared to September last year.
Sales of sports utility vehicles extended their meteoric run with an increase of 4.2 percent to a record peak of 27,818. Sales of passenger vehicles jumped 6.5 percent, while sales of other vehicles, including trucks, increased by 1.1 percent.
The robust vehicle numbers contrast with sluggishness seen in retail sales and suggest overall household spending is not as weak as some fear.
Industry data out earlier in the month showed new vehicle sales up 9 percent on September last year. Toyota retained first place on the sales ladder with 18.3 percent of the market in September.
Mazda jumped to second spot, pipping the Holden unit of General Motors. Hyundai took fourth spot while Ford fell back to fifth.
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