A Fire Rescue Victoria spokesperson said a 000 caller reported the fire to authorities, saying it was well alight and close to the fence of a nearby house in Glory Way.
Two Fire Rescue Victoria crews turned out to the fire at 10.50pm, within seven minutes of the call.
On arrival, firefighters found the vehicle fully ablaze.
Wearing breathing apparatus, firefighters quickly attacked the fire, bringing it under control within minutes of arrival, the FRV spokesperson said.
Police said the vehicle had been parked on the street at the time of the fire.
The FRV spokesperson said the fire was “deemed suspicious”, and the scene was handed to police to investigate the cause.
Police said the owner of the vehicle had been notified and the cause of the fire was yet to be ascertained.
It comes only days after another car fire in Shepparton, with emergency services called to a car fire in Byass St at 3.30am on Friday, June 6.
In that case, the car appeared to have hit a power pole.
Police said the two fires were no cause for wider public concern.
Anyone with any footage of the fire or information about it, should phone Shepparton Crime Investigation Unit on 5820 5777 or Crime Stoppers on 1800 333 000 or www.crimestoppers.com.au