Rise in car sales

New vehicle sales in Australia rose 7.4% in March compared with February, according to industry data.

The VFACTS report showed total vehicle sales of 97,400 in March, up from 90,218 in February.

VFACTS is an industry sales report published by the Australian Federal Chamber of Automotive Industries that provides official vehicle sales figures.

The article says vehicle sales have been on a strong run that has grown faster than overall retail spending, meaning demand for new cars has increased more quickly than general consumer spending in retail.

Rising car sales are a snapshot of consumer demand in the automotive sector; everyday investors can use this industry data as one indicator when researching automotive-related companies or broader consumer trends.

The article describes the March rise as extending a 'strong run' in vehicle sales, indicating it is part of an ongoing period of stronger sales rather than an isolated one-month spike.

The figures come from the Australian Federal Chamber of Automotive Industries' VFACTS report, an industry data source commonly used to track vehicle sales, making them a credible input for research alongside other indicators.

Investors may want to watch upcoming VFACTS releases and retail spending reports to see whether the stronger vehicle sales trend continues and how it compares with broader consumer spending.