EXHIBIT 2
                                                                     ---------


TO THE SHAREHOLDERS OF
DESC, S.A. DE C.V.


In compliance with Article 166 of the Mexican Corporate Law and bylaws of DESC,
S.A. de C.V., I submit my report and opinion regarding the accuracy, sufficiency
and fairness of the financial information submitted to you by the Board of
Directors, regarding the Company's operations for the year ended December 31,
2002.

I have attended the meetings of the Shareholders, Board of Directors and the
Audit, Planning and Finance Committees, and obtained from the Directors and
Management all of the information relative to operations, documents and records
that I deemed necessary. My review was performed in accordance with the auditing
standards generally accepted in Mexico.


I have also reviewed the individual and consolidated balance sheets of the
Company as of December 31, 2002 and the related statements of income,
shareholders' equity and changes in financial position for the year then ended,
which are hereby presented for your information and approval. In submitting this
report, I have also relied on the reports issued on such financial statements by
the independent auditors of the Company.

In my opinion, the accounting, reporting policies and criteria followed by the
Company and considered by management to prepare and present the financial
information are appropriate, sufficient and were applied on a basis consistent
with the preceding year; therefore, the financial information presented by
management accurately and fairly presents the individual and consolidated
financial position of DESC, S.A. de C.V. as of December 31, 2002, the results of
its operations, the changes in shareholders' equity and the changes in its
financial position for the year ended, in accordance with accounting principles
generally accepted in Mexico.



                                       EXAMINER

                                       /S/ C.P.C. JOSE MANUEL CANAL HERNANDO

                                       C.P.C. JOSE MANUEL CANAL HERNANDO







                                       6