Good morning everyone. Secretary Joseph Abaya, colleagues, industry partners, and friends from the media, thank you very much for joining us today.
It is my pleasure to formally launch this morning the much-anticipated 5th Philippine International Motor Show to be held on September 18 to 21 at the World Trade Center in Pasay City.
During our last motor show in 2012, we remember an overarching sentiment of anxiety due to the challenges that the industry faced on a national and global scale. But today, we stand on the premise of growth, milestones and bustling opportunities.
We’ve experienced double-digit growth for three consecutive years. From 11% in 2012, industry sales climbed by 16% in 2013 and we are ready to own 2014. Last June, we registered the highest monthly sales of more than 19,000 units from over 14,000 units sold in the same month last year, and for the first six months of 2014, CAMPI members already sold more than 100,000 units representing 25% year on year growth.
Last year, the industry soared beyond the 200,000 mark in total vehicle sales— something we have not achieved until today. We are putting our hopes even higher this year as we revise our 2014 forecast to at least 250,000 units, up 9% over the original 230,000 units announced in January.
The growth of the national economy bodes well for the automotive industry which accounts for 12% of the industrial sector output and 4% of the total GDP, according to industry estimates, hence, we chose “PROGRESS IN MOTION” as the theme for this year’s PIMS.
The industry has generated more than P120 billion in investments, and provided jobs for almost 500,000 workers in the auto industry and in ancillary and support industries. The industry also contributes to the national budget in terms of annual payment of duties and taxes of over P30 billion and recorded total exports of about US$3.4 billion in 2013.
Likewise, CAMPI has grown as an organization. We started 2012 with 11 members. And with the addition of our newest members, Mazda, Peugeot, and Volkswagen, CAMPI has become even stronger and continues to assert its role as the largest auto industry organization with members that are significant players in both local and global scale.
Together, we have developed “Vision 2020” where we aim to reach the 500,000 mark in the next six years. In reaching this target, we are guided by the growing domestic demand for automobiles fueled by a steady growth in income. The strong domestic market potential is shown by the fact that the Philippines with a population of 100 million has a vehicle ownership ratio of only 35 per 1000 population, much lower than those of its ASEAN neighbors. As the Philippines already reached a GDP per capita of US$2,790 in 2013, higher than the motorization threshold income of US$2,500, we are confident that this potential will translate to reality soon. This vision can only be achieved with the right policy direction and government intervention through the issuance of the much-awaited automotive industry roadmap.
Come September, 16 participating brands will showcase their best and latest motoring technologies which makes the 5thPIMS the largest gathering of car manufacturers and distributors the country has ever seen. With these, we can proudly say that progress is truly in motion.
There is no better time to celebrate the industry achievements than today. And you can be assured that CAMPI continues to be one with the nation in driving economic movement.
On behalf of the CAMPI Board and members, we thank you for your valuable support for the automotive industry. We request everyone to help us spread the good news that is the 5th Philippine International Motor Show, and we look forward to seeing you there.
Thank you and have a great day!