Australian new-car sales surge 4 months in a row

Earlier today, the Federal Chamber of Automotive Industries (FCAI), released new vehicle sales figures for February 2021.

Here are some details of the details released and the ASX automotive shares to keep an eye on.

Continued growth in new-car sales

Australian new-car sales have surged for the fourth month in a row.

The FCAI reported that a total of 83,977 vehicles were sold in February 2021. The positive result was 5.1% higher than the prior corresponding period when 79,940 vehicles were sold.

According to the FCAI, SUV sales dominated the result. This amounted to sales of 42,651 vehicles, representing 50.8% of the total market for February 2021.

The FCAI noted that growth in the market was driven by purchasers classified as…