The Geneva Motor Show was cancelled at the last minute and that has thrown the annual event into chaos.
In an announcement, organizers said they have decided to cancel the 2021 Geneva Motor Show which was slated to kick off in March.
They went onto explain a “majority of GIMS exhibitors who took part in a survey, stated that they would probably not participate in a 2021 edition … and that they would prefer to have a GIMS in 2022.”
Organizers went on to say automakers need time to recover from the coronavirus pandemic and it’s “far from certain” that an event in 2021 would be able to attract the hundreds of thousands of visitors who typically attend the annual motor show.
Besides cancelling the 2021 Geneva Motor Show, organizers announced plans to put the event up for sale. They want to sell the show to Palexpo SA, which hosts the event, and noted this is their preferred option as it would “ensure the regular organization of an International Motor Show in Geneva.”
Organizers explained that the sudden cancellation of this year’s show resulted in losses of approximately 11 million Swiss francs ($11.5 / £9.4 / €10.2 million). They approached the Canton of Geneva for financial support and were approved for a loan of 16.8 million Swiss francs ($17.6 / £14.3 / €15.7 million).
While that sounds like good news, organizers said the loan came with conditions they couldn’t agree too. The key objections were that organizers had to host a Geneva Motor Show in 2021 and make a repayment of 1 million Swiss francs ($1 million / £855k / €935k) as early as June 2021. Given those demands, the loan wasn’t accepted.
It remains unclear how things will play out, but it sounds like the Geneva Motor Show we know is over – at least for the time being.