But Jonel Borromeo isn’t worried. In fact, his family just invested a fortune in a business he believes would make good in coming years.
The 31-year-old US-trained Borromeo is the eldest son of Max Borromeo, the owner of the dealership that sells cars in Alabang in Metro Manila and here in Cebu. His businesscard says he is general manager of Ford Cebu, a two-year-old dealership at the corner of Magallanes and P. Burgos streets in downtown Cebu City. Part of his responsibilities is to oversee the construction of his family’s P600-million gamble – a sprawling state-of-the-art showroom that stands to become the most modern car store in this country.
"I grew up here in Cebu and I know by experience that a modern car showroom will make it big in this city," Borromeo confidently says. "We are betting heavily on the Cebu boom. We believe that this economic crisis is just temporary. We are here for the long haul."
The Borromeos used to sell Honda and Isuzu vehicles in this city. More than two years ago, they opted to sell their dealerships for these two brands to take on Ford, known as the second-biggest name in automotive worldwide. Borromeo said his family believes that with Ford’s wider product range, their business would be better off.
Since starting on a building that was built the year Borromeo was born, the Ford Cebu dealership has sold more than 700 vehicles, averaging 30 a month. It sold mostly completely-built-up or CBU ones, namely Expeditions and Sport Tracs, and a small number of locally-assembled Lynxs and Rangers.
When The STAR and other Manila-based media outfits visited Borromeo to test the newly-launched Ford Escape in this city, they were supposed to view the new Ford Cebu showroom.
However, construction work is yet to be finished. The building – with two floors above ground and a basement – is still in the finishing stage, with workers scrambling to beat the November 15 opening date.
The showroom was designed from the ground up by noted Cebuano architect Ed Gallego. The Borromeos never spared a centavo in making sure that it would be totally different from what Filipino car buyers have seen and experienced.
Borromeo said they want to offer an interactive experience to customers. "We’re tired of seeing sport utility vehicles displayed in showrooms with granite floors. So we put up a building that is truly industrial in looks and feel. Every display will be different. There will be a mural in the background showing the kind of lifestyle that fits the vehicle," he said.
The STAR was given a tour of the new showroom. It opens up with the traditional reception desk that will have the blue Ford oval. Adjacent to it are the display areas where each Ford vehicle – from the Expedition down to the Escape – will be placed. Every vehicle will have a different background and displayed on a different surface. "We even want to bring in sand and rocks here. And yes, live grass too," Borromeo said.
A steel stairway similar to warehouses in America leads to the building’s second floor. There, one could find a gym where, according to Borromeo, employees and customers can "de-stress" themselves. There is also an audio visual room. And of course, the offices that will carry the same industrial look.
The building’s basement will have the service area. Since it is located underground, customers can have a noise-free atmosphere on the ground and second floors.
The media people invited to this City were given a taste of the Ford Escape. If the reaction of the Cebuanos to the small SUV – billed as "your first Ford SUV" – is to be the gauge, truly there is a future to the Borromeos’ gamble. Everybody on the road – from the jeepney and tricycle drivers who don’t know how to use their signal lights, down to the plain "Bay" and "Day" who while the time outside the malls (they’re afraid to go in) – seems to be wowed by the Escape’s small but rugged appearance.
If only the economy of this country will improve, they’re probably thinking, then we can buy such a vehicle. Well, ask Borromeo. He didn’t study in the US to bet on a loser.