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Nissan Pulls Out Of Chicago And Detroit Auto Shows To Save Money

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Nissan says it is pulling out of the Detroit and Chicago auto shows as it cuts its marketing budget in the tight auto market.

The announcement comes after the No. 3 Japanese automaker made a splash at the Los Angeles Auto Show last week, where it unveiled the Nissan Cube, an updated 370Z and a low-priced Versa sedan. Its Infiniti line unveiled its G37 convertible.

The automaker now says it has no major product launches in the near future.

Nissan isn't the only automaker to pull out of the Detroit show. Over the weekend, The Detroit News reported Mitsubishi Motor Co. was withdrawing.

General Motors Corp. and Chrysler scaled back their presence at the L.A. show. They unveiled no new vehicles and held no press conferences while their CEOs were in Washington seeking $25 billion in federal loans.