"We have evaluated our participation at motor shows for 2009 to see how we can make the most out of our resources, and this year we decided not to participate at Tokyo," Volvo spokeswoman Maria Bohlin was quoted as saying by Autonews.
Volvo's parent firm Ford Motor Co. last week confirmed it will skip the Tokyo Motor Show, but representatives of the company denied to talk about Ford's Swedish brand.
And Ford isn't the only company not taking part of the upcoming auto event. General Motors and Chrysler, the other two struggling carmakers, also confirmed they are skipping the Tokyo auto show this year, while several other Japanese companies said they are still considering their options regarding this event.
All these announcement put the Tokyo Motor Show in doubt, so the Japan Automobile Manufacturers Association will take a decision in early February whether to cancel the show. The Tokyo show is held every two years so a potential postponement would bring the next exhibition in 2011, Toshihiro Iwatake, JAMA's executive director, told Autonews.
Tokyo isn't the first auto show that sees several automakers postponing their launches and exhibition stands. Rumors surrounding similar actions were spread on the web before Detroit too, with reports claiming that Chrysler, Honda and other companies won't show up at the 2009 NAIAS. However, Chrysler denied these rumors but admitted they will cut costs by reducing the services offered by their booth.
“There are many other ways we’re saving money so we can invest more in our future. We won’t be hosting the media at the Firehouse hall across the street from the auto show, as we have done in years past. We’ve informed our executives that they will have to purchase their own tickets to the annual charity ball held during the Detroit show,” Rick Deneau, Director of Product, Brand and Sales Communications, explained before Detroit.