General Motors and Chrysler continue their cost-cutting efforts.
The two automakers, which had already announced they will not be attending the Tokyo Motor Show, now announce they are cancelling their appearance at the upcoming Seoul Motor Show.
And they are not alone. Per Trading Markets:
GM and Chrysler, along with 11 other foreign brands, did not register for the biennial event in April, the biggest auto fair in South Korea, said an official at the Organizing Committee for the Seoul Motor Show.
“The number of exhibitors fell by roughly 10 per cent from the last gathering in 2007,” the official said.
Among those who will skip the event are BMW AG, Nissan and Volvo, according to the official.
More details can be found at the original article. Currently, only five automakers have announced they will be participating in the show.
It doesn’t sound like it will be much of a show. But I think it is a smart move on the automakers part. The cost of these shows sometimes out weighs the benefits, and in this case it’s most likely true.