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Update: Hyundai pulls out of Tokyo
30 September 2009
Hyundai has confirmed it will have a stand at the Tokyo motor show next month.
The Korean firm was the last major foreign manufacturer left at the show, after makers including BMW, Mercedes and the Detroit Three all confirmed they would not be attending earlier this year.
The only non-native manufacturers left at Tokyo are Lotus and Alpina.
Toyokazu Ishida, who administers the international exhibition for the Japan Automobile Manufacturers Association, said: “Hyundai called last week and orally confirmed their intent to cancel. It's unbelievable.”
Hyundai has reportedly paid a non-refundable deposit of around £75,000 for its 4300 square-foot stand. It’s not yet known if it will be left as empty floor space.
An official statement said: "Hyundai Motor Co. will not be an official exhibitor at the 2009 Tokyo Motor Show because of the global economic downturn, which has forced a more careful allocation of resources. This decision is also in line with other leading automakers who have cancelled their participation at this year's Tokyo show."
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