Police and Country Fire Authority crews received a call about 6.30 am on Sunday to reports of a car fire off Macfarlane Rd.
Seven CFA vehicles from Undera, Tatura, Toolamba, Shepparton, Merrigum and Mooroopna responded to the incident along with one Fire Rescue Victoria vehicle from Shepparton.
Crews worked to quickly bring the blaze under control, with the scene deemed safe just after 7.40 am.
Detective Senior Constable Josh Coombs said on Monday that the vehicle, which was completely destroyed during the incident, was yet to be identified.
CFA received another call on Sunday afternoon to a separate incident off Macfarlane Rd involving another vehicle.
Two CFA units from Mooroopna and one FRV unit from Shepparton attended the scene about 4.30 pm, and the blaze was quickly brought under control within 10 minutes.
CFA confirmed both fires were being treated as suspicious with police now investigating the causes.
Det Sen Constable Coombs said the incidents were being treated separately.
Anyone with information about either of the car fires or who witnessed any suspicious activity in the area at the time is urged to contact the Shepparton police station on 5820 5777.
Alternatively a confidential report can be made via Crime Stoppers, phone 1800 333 000.