In a press release, the International Motor Show Foundation committee and Council explained that they “gave up organizing the event in 2021”.
"After a survey, most exhibitors indicated that they probably would not participate in the 2021 edition and were in favor of having the next edition in 2022", highlights the note, reported by AFP.
The organization also highlighted the fact that it is not guaranteed "that the health situation will allow the organization of an event that brings together more than 600.000 visitors and 10.000 journalists in the spring of 2021".
The Geneva Motor Show, which usually takes place in March, was canceled on February 28 due to the covid-19 pandemic.
After canceling this year's edition, the organization immediately requested financial support from the canton of Geneva to cover the estimated losses of 11 million Swiss francs (10 million euros), and to prepare a new edition.
In early June, the Geneva authorities approved a loan of CHF 16,8 million (EUR 15,7 million).
However, the fair's promoters decided to refuse this loan because they would not be able to meet the first payment deadline in June 2021.
In addition, this loan was also subject to the condition that the fair be organized in 2021, which will not happen.
The statement also expresses the organisation's intention to sell the Geneva Exhibition Hall (Palexpo).