“Hyundai called last week and orally confirmed their intent to cancel,” said Toyokazu Ishida, who administers the international exhibition for the Japan Automobile Manufacturers Association. The call came Friday, Sept. 25. “It's unbelievable,” Ishida said.

The South Korean carmaker's exit leaves just two minor foreign manufacturers at the Oct. 24-Nov. 4 event: German boutique manufacturer Alpina Burkard Bovensiepen and British sports-car maker Lotus. The Detroit 3 were among the first to drop out earlier this year.

The Tokyo show, held every two years, was once the premier auto event in Asia. But it is being hit hard as international players sit out to save cash amid the global market slump.

It can cost millions to exhibit, and even some Japanese manufacturers had proposed that this year's event be canceled because of the slumping economy.

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