Aussies are buying Bentleys, Jaguars, BMWs and Mercedes in record numbers even as living standards fall in a sign that rising inequality seen across the developed world is spreading here as well.

Luxury car sales surged to a record 104,277 in the 12 months through July, a 15.7 per cent increase on the same period a year earlier, according to an index collated by CommSec, Commonwealth Bank of Australia's brokerage unit.

Local sales of BMW, Audi, Mercedes-Benz, Bentley, Jaguar and McLaren all hit record highs in the past 12 months, according to the bank.

Overall new vehicle sales last month climbed just 1.6 per cent on an annual basis, with SUV sales rising 6.9 per cent.