Australia new vehicle sales up 8.4 percent in April

Sales of new motor vehicles in Australia surged 8.4 percent in April from the previous month, showing consumer resilience despite three interest rate hikes this year, boding well for retail spending.

Data from the Australian Bureau of Statistics on Monday showed that 90,935 vehicles were sold on a seasonally adjusted basis in April, up from 83,876 in March. That followed a 2.8 percent decline in March.

Sales were up 28.7 percent on April last year.

The data echoes strength shown in industry sales figures released earlier this month. Figures from the Australian Federal Chamber of Automotive Industries showed vehicle sales were up 27.3 percent in April from the same month a year ago as consumers splashed out on big-ticket items.