The economic downturn continues to have direct effects on the ailing automotive industry. Honda, which is considered to have one of the most profitable vehicle lineups in the North American market, recently announced it would forego its press conference at the upcoming 2009 North American International Auto Show.
"Normally we have a great TV moment with special effects to reveal a new model. That's a very expensive prospect," American Honda spokesperson Chris Martin said. "Given the economic times, we just didn't see that as appropriate this year."
Honda still plans to exhibit at the show. The debut of the production 2010 Honda Insight is still scheduled for NAIAS, and executives will still be available during press days for media interviews. Honda will also exhibit at the 2009 Chicago auto show, though no press conference is scheduled there, either.
The announcement from Honda is just another in a series of blows to the Detroit auto show, which is typically where the Detroit 3 make their most important debuts and announcements for the year. Yesterday, Nissan announced it would not participate in the show, following the leads of several other carmakers including Mitsubishi, Suzuki, Land Rover, and Rolls-Royce. Porsche was a no-show in 2008, and does not plan on returning for 2009.
Source: Bloomberg News