Carmakers, suppliers absent from Guangzhou show

Shanghai, November 11 (Gasgoo.com) At least five automakers and three major tire suppliers have announced that they will not attend the upcoming Guangzhou International Automobile Exhibition starting 19 November, 2008, the Xinhua news agency reported Tuesday.

Zhengzhou Nissan Automobile Co, Chongqing Lifan Industry Group Co, Harbin Hafei Automobile Industry Group, Zotye Holding Group Chrysler LLC, as well as the Big Three tire makers -- Michelin, Goodyear and Bridgestone -- have confirmed their decision not to attend the auto show partly because of difficult financial situations stemming from global financial crisis.

Internal sources told reporters that amid a slowing market with weakening consumer demand, many automakers have decided to leverage all assets and recourses to promote sales figures before the end of the year, by taking measures such as price-cut or zero percent finance. Thus some of them are not well prepared for an immediate exhibition like the Guangzhou show.

The 6th China (Guangzhou) International Automobile Exhibition will be held on 19 ~ 25 November, 2008 at Pazhou Exhibition Hall (i.e. Guangzhou International Convention and Exhibition Center) of China (Guangzhou) Import and Export Fair, and November 18 will be a media day, or the first day open only to the media.