New vehicle sales in Australia hit a record high in March, totalling 109,647, surpassing the previous record set in 2018.

The first quarter of 2024 saw 304,452 sales, marking the best-ever first quarter and a 13.2% increase from 2023, according to the Federal Chamber of Automotive Industries.

FCAI CEO Tony Weber noted the industry's performance over the past 12 months, with nine record-breaking months.

SUVs accounted for 58.9% of sales, while passenger vehicles dropped 16.1%. Electric vehicle sales saw growth, comprising 23.5% of the market.

Concerns were raised about the upcoming New Vehicle Efficiency Standard and its impact on manufacturers and consumers.

Toyota led the market in March, followed by Ford and Mazda.