Various economic problems made its implementation impossible.
The Committee and the Council of the Foundation of the "International Motor Show" announced the Geneva International Motor Show (GIMS) or better known as the Geneva Motor Show, it was not held until the year 2022. Thus, confirmed the rumor that since The end of May circulated in the automotive industry. We recorded that this year's Geneva Motor Show had also been canceled, due to the Coronavirus pandemic.
Why won't there be a Salon until 2022?
The Foundation carried out a survey and several confirmed automotive brands that would not attend the 2021 event, at the same time that they would mark their preference to attend the 2022 edition. The reasons are that they are going through a difficult economic phase and will have time to recover from the effects of the pandemic. In addition, taking into account the current health situation, it would not be very convenient to bring the more than 600,000 visitors and 10,000 journalists who receive the exhibition year after year.
The financial situation of the Foundation is not the best either. As we discussed a month ago, the entity requested financial aid from the Geneva government, both for the losses caused by the cancellation of this year's event and by the completion of 2021. The loan, which was to be granted to them in the amount of USD 1.8 million, changed the requirement to comply with certain guarantees that were not the most convenient. Among the due requirements, a payment of more than USD 100,000 will be made by June 2021, something that will not be covered because the expected income for next year's event was not available. Precisely, the loan will also require the event to be carried out in 2021, so the Foundation did not accept the money.
Due to the crisis, the Foundation decided to sell the rights to the Hall to Palexpo SA, the company that owns the place where the GIMS is held and which will take command of the organization of the Hall by 2022.
According to the Geneva government, the exhibition has an economic impact of more than USD 20 million a year, no less.