Geneva Motor Show halted for 2021
01 Jul 2020|174 views
The Committee and Council of the Foundation 'Salon International de l'Automobile' has decided not to organise the Geneva International Motor Show (GIMS), the largest public event in Switzerland, in 2021.
The automotive sector is currently going through a difficult phase, and exhibitors need time to recover from the effects of the pandemic. Furthermore, it is far from certain that the current health situation would permit the organisation of an event attracting more than 600,000 visitors and 10,000 journalists next spring.
Immediately following the cancellation of GIMS in March 2020, the Foundation requested the Canton of Geneva for financial support to cover the losses caused by the cancellation of GIMS - estimated at $16 million - and to help prepare a new edition. However, the terms of the loan did not guarantee of the long-term financial stability of the Foundation in its present form due to an obligation to make a repayment of $1.47 million as early as June 2021, before having had the opportunity to generate additional funds, as the GIMS 2021 edition cannot take place.
The Foundation has therefore decided in favour of the sale of GIMS to event management and consultancy firm Palexpo SA. The aim is to find a solution that will ensure the regular organisation of an International Motor Show in Geneva in the future. The purchase of the assets would transfer all rights to the organization of GIMS to Palexpo SA.
A live press conference was held on 30 June 2020 in Room G of the Palexpo Congress Centre, and can be viewed here.
The Committee and Council of the Foundation 'Salon International de l'Automobile' has decided not to organise the Geneva International Motor Show (GIMS), the largest public event in Switzerland, in 2021.
The automotive sector is currently going through a difficult phase, and exhibitors need time to recover from the effects of the pandemic. Furthermore, it is far from certain that the current health situation would permit the organisation of an event attracting more than 600,000 visitors and 10,000 journalists next spring.
Immediately following the cancellation of GIMS in March 2020, the Foundation requested the Canton of Geneva for financial support to cover the losses caused by the cancellation of GIMS - estimated at $16 million - and to help prepare a new edition. However, the terms of the loan did not guarantee of the long-term financial stability of the Foundation in its present form due to an obligation to make a repayment of $1.47 million as early as June 2021, before having had the opportunity to generate additional funds, as the GIMS 2021 edition cannot take place.
The Foundation has therefore decided in favour of the sale of GIMS to event management and consultancy firm Palexpo SA. The aim is to find a solution that will ensure the regular organisation of an International Motor Show in Geneva in the future. The purchase of the assets would transfer all rights to the organization of GIMS to Palexpo SA.
A live press conference was held on 30 June 2020 in Room G of the Palexpo Congress Centre, and can be viewed here.
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