In a drastic determination, the organizers of the Geneva Motor Show decided to also suspend the event in 2021, due to the coronavirus pandemic.
“The Foundation Committee and Board have decided not to organize an event in 2021: the majority of GIMS exhibitors who participated in a survey stated that they would probably not participate in a 2021 edition and that they would rather have a GIMS in 2022. The sector Automotive is currently going through a difficult phase and exhibitors need time to recover from the effects of the pandemic. In addition, it is far from certain that the current health situation would allow the organization of an event that would attract more than 600,000 visitors and 10,000 journalists next spring, “states a press release.
One of the main consequences of the cancellation has to do with the denial of a loan to the organizers:
“Immediately after the cancellation of GIMS in March 2020, the Foundation requested financial assistance from the Canton of Geneva to cover the losses caused by the cancellation of GIMS, estimated at 11 million Swiss francs, and to help prepare a new edition. In early June, the Grand Council approved a loan to the Foundation of CHF 16.8 million. The Foundation thanks the competent authorities of the Canton and the State of Geneva for their willingness to grant this loan to GIMS, but does not see the terms of the loan as a guarantee of the Foundation’s long-term financial stability in its current form. The reason for this is that the Foundation would be required to repay 1 million Swiss francs from June 2021, before having had the opportunity to generate additional funds, since the GIMS 2021 edition cannot take place. It is also considered inadmissible that a condition of the loan is that an event must be organized in 2021. Therefore, the loan is not accepted ”, they closed.