Record affordability drives Australian car sales

Australia's new light vehicle market rose 8% year-on-year in March to 105,054 units, marking a new record for the month and the seventh best month ever for the industry. SUVs and light commercial vehicles (LCVs) continue to propel the market, with sales up 15.3% and 10.1%, respectively, in March. A big part of the current industry momentum stems from affordability levels. According to CommSec’s Car Affordability Index, car affordability is the best it has been in the 40 years since the Index began.