Hyundai Says Pass to Tokyo Motor Show

South Korean carmaker Hyundai won't attend the Tokyo Motor Show that will take place in October. Even though the company hasn't mentioned a reason for this, the decision was most likely driven by economic reasons as more and more auto manufacturers are struggling to cut costs by pulling out of future shows.

The Tokyo Auto Show, which was often referred to as the largest car show in Asia, is getting less attractive for overseas carmakers and Hyundai is the latest company that cancels its presence at the event. The news was confirmed by Toyokazu Ishida, who administers the international exhibition for the Japan Automobile Manufacturers Association. He said in a statement for Autonews that Hyundai last week called and announced it won't attend the show.

Curiously, the South Korean firm already paid $122,000 in nonrefundable fees for a 4,300-square-foot exhibit, the aforementioned source noted, but the final costs for a stand at the show could go up to several millions.

Hyundai officials have not commented on the reports but its exit basically means the Tokyo Auto Show will host only two stands of foreign companies: German boutique manufacturer Alpina Burkard Bovensiepen and British sports-car maker Lotus.

The show will mainly consist of domestic carmakers, as Toyota, Honda and Nissan are projected to show their latest contraptions at the event. BMW, General Motors, Ford, Volkswagen, Mercedes and Lamborghini announced earlier this year that they will skip the show. The overall count of automakers dropping out of the show comprises more than 20 large Europe- and US-based carmakers.

The 2009 Tokyo Auto Show ill take place from October 24th to November 4th.