Sale of automobiles in Australia surged by 3.7% in October as compared to the previous month, another sign which points to the improving consumer confidence and the fact that customers are now more ready for retail spending.
Official data shared by the Australian Bureau of Statistics recently has confirmed that for the month of October, 81,122 vehicles were sold, which is a substantial rise from the 78,243 units sold in September. Even September had recorded a 3.1% increase in motor vehicles' sale compared to August.
Sales of SUVs and passenger vehicles recorded a 3.7% and 1.2% increase respectively. 'Other' vehicles' sales rose by 10.6%.
Even in October of last year, when the country was still struggling with the global economic downturn, automobile sales recorded a 3.3% increase, a figure which led analysts to believe that the county's consumer confidence was never hurt too bad.
The demand for automobiles is steadily increasing, and experts believe that this could be a sign pointing to the possibility that Australia is not only out of the recession for good, but is also showing strong growth signs.
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