DRIVE THE GREEN ROAD welcome remarks

Today we celebrate the opening of our 3rd Philippine International Motor Show, the country’s flagship auto show.

Change, as they say, is in the air. And the Philippine auto industry is at the verge of major changes. For the first time, auto sales could surpass the highest sales ever achieved in 1996 of 162,000 units. We are growing at a rate of 37% so far. High consumer and business confidence continues. And the second half of the year is looking pretty good.

Global observers echo the same bullish sentiment. The economic growth forecast has been raised to 5.5%. Money sent home by OFWs is hitting a record high, at $18 billion. Meanwhile, banks continue to aggressively lend, giving auto buyers easy access to funds, to finance their purchases.

The momentum has turned positive, with expectations that our President Aquino can steer the economy in the right direction.

The local auto industry has shown remarkable resiliency. Despite the recent global recession, and the burden of auto smuggling, we have achieved growth year after year. Resilience, however, should not be taken for granted. Without smuggling, the growth could have been stronger; the increase in sales higher, and job creation, greater.

The auto industry is one of the Philippines’ few remaining major industries. What we have in common with our ASEAN neighbors, is the prohibition of imported used vehicles. Sadly, what sets us apart is the lack of the strict implementation of that ban. Without it, the auto industry cannot achieve its full potential.

A stop to smuggling is a green light to a bigger domestic auto market which in turn is a go for immediate job creation.

This then is our HOPE and a wish for a more vibrant auto industry, a bigger auto market, and for more employment.

Change is in the air. A brighter future for the auto industry, for its autoworkers, and for the economy can become a reality.

We are thankful that part of the President’s top priority includes job creation and a firm stand against all forms of corruption, including smuggling. As the President says, “Kung walang corrupt, walang mahirap.”

The timing could not have been better. Global demand is growing and the Philippines has an advantage. We can offer our underutilized assembly plants to serve both domestic and regional export needs. We have a growing domestic market with over 90 million car-loving Filipinos—with much room to expand, for both assemblers and distributors alike.

Asia is the auto market with the greatest potential. It is already the biggest—and the most profitable market in the world.

We have the capacity. We have the capability. We have the skills and engineering knowhow. And now, we have the right environment.

With the President’s clear direction of making the Philippines a predictable and consistent place for investments, things will only get better from here on. For the economy, for our workers, for the auto industry.

HOPE can finally be realized.

It is against this backdrop that we celebrate the 3rd Philippine International Motor Show, with our theme, "DRIVE THE GREEN ROAD. "

We aim to use the motor show as a platform to build an eco-driven community. Here, you will find exciting new models, the latest in green technology, alternative solutions to include electric vehicles, hybrids, clean-burning diesel-powered vehicles, as well as advanced fuel-efficient gas engines. Expect 20 global auto brands under one roof, with more than 100 vehicles on display.

This is more than just an exhibit of cars. It represents the nation's pride and joy of economic cloud and achievement.

With God's blessings, we are now on our 3rd year, putting together the country's very own Philippine International Motor Show - one which we, all Filipinos, can be proud of.

Thank you, and to God be the glory!

Ms. ELIZABETH H. LEE
President, CAMPI & COO, Universal Motors Corp.