Honda will not be part of this year’s Frankfurt Motor Show, according to Automotive News Europe, citing economic hardships and cost-cutting measures as grounds to desert the event. Instead, it will use the funds to research and produce environmentally products, Honda says.

On the heels of the announcement by Honda to pull out of Frankfurt, Toyota quashed rumors that it would not be attending, saying, “We are indeed planning to participate in the IAA 2009.”

Also not participating in the biennial show will be automakers Mitsubishi, Nissan, and Infiniti. Suzuki, on the other hand, says it will be at Frankfurt this year.

+ Automotive News Europe: Honda pulls out of Frankfurt show, Toyota stays