Seoul Motor Show Loses GM, Chrysler, BMW

The restless race for money, initiated by the economic crisis, makes car manufacturers fire workers, close down factories, scrap new models and sell assets. Undoubtedly, marketing budgets are also cut down to a minimum, as all struggle to cope with a reality most of them never saw coming.

The U.S. government already provided billions of dollars in federal loans to GM and Chrysler, but the status quo is far from being resolved. Both companies now look for new ways to at least save money, not to mention generate new cash. International motor shows are events manufacturers decided they can do without. This is also the case with the Seoul Motor Show. Set to start April 2nd, the eleven days lon show will not feature some of the most popular builders.

Nissan and Volvo had already announced they would not attend the event, but that was not the end. GM, Chrysler and BMW joined the club and informed the Organizing Committee for Seoul Motor Show they will decline their participation in the fair.

For both GM and Chrysler, the decision to scrap Seoul from the calendar comes after they already canceled their presence at the Tokyo Motor Show. All togheter, 11 foreign brands won't display their respective car models in Seoul.

"The number of exhibitors fell by roughly 10 per cent from the last gathering in 2007," an event official was quoted as saying by tradingmarkets.com.

Stretching over a total of 59,176 square meters (indoor : 53,541 square meters, outdoor : 5,635 square meters), the Seoul Motors Show is a biennial event, held at the Korea International Exhibition Center (KINTEX). Organizers hope this year's edition will bring some one million people to the Show.