No car event in Switzerland again next year. The organizers have decided to sell the show to the managers of the Geneva fair
The loan issue
Uncertainty over the number of participants in 2021 is combined with a financial issue. In fact, immediately after the cancellation of the 2020 edition (which took place on February 28 and with the start of the event scheduled for March 5), the Foundation of the show requested financial support from the canton of Geneva to cover the losses suffered with the cancellation that they have been estimated in the order of 11 million Swiss francs, around 10.3 million euros. At the beginning of June, the Cantonal Grand Council approved a loan of 16.8 million francs, 15.7 million euros. The loan, however, provided for various conditions such as the repayment of one million francs in June 2021 “before having the possibility of generating additional funds”. In addition, the Foundation considered it unacceptable that one of the terms of the loan was the organization of an event in 2021. For these reasons, the loan was not accepted on 26 June. The conditions required by the canton also include the transfer of the knowhow. The organizers therefore decided to sell the show to Palaexpo SA, the company that manages the Geneva fair. or the venue of the event. “The purchase of the business will transfer all organizational rights to Palexpo” reads the press release. The goal of this change of hand, the Foundation always explains in its note, is to ensure “the regular organization of a car show in Geneva”. The organizers also mentioned that the impact on the canton is around 200 million francs per year.
the salons crisis
The crisis in which the coronavirus pandemic has thrown the automotive sector is evidenced by the cancellation of the salons even if it must be added that the system of the great kermesse had been in trouble for some time and had recorded defections of big brands at each show for at least a couple of years . Then came Covid-19. In 2020, not only did Geneva have to capitulate but the kermesses were not held in New York, Beijing, Detroit. The Paris Motor Show has also been canceled, while the Frankfurt Motor Show, which runs biennially like the transalpine one, will not take place in 2021 in the historic venue, the immense fair, but will move to another city.
June 29, 2020 (change June 29, 2020 | 9:18 pm)
© RESERVED REPRODUCTION