Hyundai to skip Tokyo Motor Show '09, for cost cuts

South Korea's top automaker Hyundai Motor Co. has decided not to participate in the Tokyo Motor Show next month, apparently as part of its cost reduction strategy, it has been learned.

Hyundai has already notified the organizer about its withdrawal from the auto show, which will start on Oct. 24 at the Makuhari Messe convention hall in Chiba, organizers said.

This year, the American "Big Three" and other major foreign automakers have also announced their absence from the event. With only two overseas companies -- German carmaker Alpina and British sports car manufacturer Lotus -- taking part in the upcoming show, organizers fear that it will lack excitement.

Amid the lingering global recession since last autumn, some Japanese commercial vehicle makers, such as Isuzu Motors, have also decided to pull out of the event. Compared to the previous exhibition in 2007, the number of participants this year is expected to decrease by half to a mere 100 companies.

The downsizing of Japan's major auto show may be the result of its contracting automobile market. The Auto Shanghai in China, on the other hand, is enjoying a growing popularity among western car manufacturers, as they expect constant growth of the Chinese market despite the slow economy.