Volvo pulls out of the Tokyo Motor Show

Because of the continuing economic crisis, there have been some major pull outs from the Tokyo Motor Show last week including Ford, GM and Chrysler.

The latest to pull out from the show is Volvo, which made the JAMA, the association that runs the Tokyo Motor Show, close to deciding to cancel the show.

However, last week it announced that it was going to push through with the show with Japanese automakers showing commitment to participate, including Mazda which promised to be at the show. Mazda is closely associated with Ford which currently owns 13 percent of the shared of the Japanese carmaker. It was originally 33 percent but Ford sold off 20 percent for $540 million.

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