SYDNEY — Australian auto sales have boasted their best May on record as cashed-up consumers splash out on big-ticket items, a hopeful sign spending had the resilience to weather a COVID-19 lockdown in the state of Victoria.
Some 100,809 new vehicles were sold in May, according to Thursday’s data from the Federal Chamber of Automotive Industries, a rise of 68% on last year during the depths of a pandemic recession.
Leading the pack were the pick-up trucks favored by sole traders taking advantage of generous tax breaks, pointing to another month of robust business investment.
Government data out on Thursday showed shoppers had already been out in force in …
Keep on reading: Australians splash out big on autos, keep economy ticking