A cargo storage system has two panels (11) pivotally mounted above a base frame (2) for rotation between a closed position where the panels are generally co-planar and have inner longitudinal edges adjacent each other, the panels then cooperatively defining a generally flat surface, and an open position where the panels are generally parallel to each other and spaced apart from each other. The panels are pivotally mounted at opposite ends thereof adjacent outer longitudinal edges thereof. The cargo storage system further has spaced-apart foldable elements (26) between the panels to define storage areas between the foldable elements and the panels. A releasing mechanism is included for releasing the panels from their stored position. A spring or the like preferably then moves the panels to the open position automatically. The panels are connected to each other via an actuator mechanism for movement of the panels in unison.