SYDNEY, March 3 (Reuters) - Australian new vehicle sales enjoyed another month of strong sales in February, a positive sign for economic growth as consumers remained confident enough to splash out on big-ticket items.
The upbeat industry data comes after government figures showed the economy surpassed expectations to grow 3 percent last year, led in large part by household consumption.
Australians spend around A$20 billion on vehicles annually, equal to almost 9 percent of household consumption.
The Australian Federal Chamber of Automotive Industries' VFACTS report on Thursday showed total sales were 96,443 in February, up 6.7 percent on a year earlier.
Sales for the year so far were 4.8 percent ahead of the same two months in 2015.
Demand for sports utility vehicles (SUVs) remained red-hot, with sales up 15.1 percent on February last year. Those gains have come partly at the expense of passenger vehicles which fell 3 percent in February.
Sales of light commercial vehicles jumped 12.8 percent, a second straight month of strong gains that could be a harbinger of firmer business investment. Sales of heavy vehicles also rebounded by 19.9 percent.
Toyota Motor Corp 7203.T retained first place on the sales ladder in February with a market share of 16.8 percent. Mazda Motor Corp 7261.T had another bumper month with a share of 10.6 percent.
Hyundai Motor Co 005380.KS took third place with 8.0 percent of the market, while the local Holden unit of General Motors Co (NYSE:GM) GM.N held 7.6 percent. Ford F.N trailed with 6.9 percent.
Details of the VFACTS report in original terms:
Feb
Jan
m/m pct
Feb/15 y/y pct
Sales
96,443 84,373 +14.3
90,424
+6.7
Sales by Type:
Feb '16/feb '15 Volumes
Change
Pct Change
Passenger Vehicles
-1,217
-3.0
Sports Utility
+4,826
+15.1
Light Commercial
+1,990
+12.8
Heavy Commercial
+420
+19.9