The automotive industry continues to rebound amid economic challenges here and abroad, as car sales in the country in the last month of 2022 posted a 33.8 percent uptick — the highest since 2017.

A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association showed that total new motor vehicle sales in December 2022 reached 37,259 units, equivalent to 33.8 percent growth, versus the 27,846 units recorded in the same period a year ago.

“The new motor vehicle sales of 37,259 units in December was the highest monthly performance recorded, which contributed to achieving full-year sales of 352,596 units,” CAMPI president Atty. Rommel Gutierrez said.

CAMPI-TMA sold 352,596 units year-to-date, equivalent to 31.3 percent growth compared to last year.

“With this, CAMPI-TMA sales alone have exceeded the total industry sales forecast of 336,000 units — strong evidence that the industry has recovered from the impact of the pandemic and other external challenges,” Gutierrez added.

He stressed that the 37,000-level figure was recorded in 2017, adding, “Achieving it again brings us renewed optimism for a better year ahead for the auto industry.”

“The continued expansion of the economy and creation of new jobs and opportunities is just as important as ensuring that no pandemic disruption occurs anew this year. Nonetheless, the industry will continue to capitalize on the growing market demand for new motor vehicles,” according to Gutierrez.