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The Geneva Motor Show 2021 will not be held

2020-07-01T14:11:45.241Z


The Foundation: 'No to loan, better sell in Palaexpo' (ANSA)The Geneva Motor Show (GIMS) 2021 will not be held. This was decided by the Foundation responsible for organizing the event, motivating the choice with the financial consequences of the cancellation of the 2020 edition by the Federal Council due to the coronavirus pandemic. The Foundation also decided to sell GIMS to Palexpo SA. The Committee and the Foundation Board decided not to organize the 20...


The Geneva Motor Show (GIMS) 2021 will not be held. This was decided by the Foundation responsible for organizing the event, motivating the choice with the financial consequences of the cancellation of the 2020 edition by the Federal Council due to the coronavirus pandemic. The Foundation also decided to sell GIMS to Palexpo SA. The Committee and the Foundation Board decided not to organize the 2021 event because most of the exhibitors said in a survey that they probably would not have participated, preferring instead to return to the Show in 2022. The global automotive sector is, as it is known, 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 allow the organization of an event that attracts more than 600 thousand visitors and 10 thousand journalists for next spring. Immediately after the cancellation of GIMS in March 2020, the Foundation asked the Canton of Geneva for financial support to cover the estimated economic losses of 11 million Swiss francs and to prepare a new edition. At the beginning of June, the Grand Council approved a loan to the Foundation of 16.8 million Swiss francs against - explained well-informed sources - the transfer of know-how and the insurance of its performance in 2021. The Foundation, while appreciating availability, he decided not to accept the offer because he did not consider the terms of the loan as a guarantee of the long-term financial stability of the Foundation in its current form. The reason for this is that the Foundation would be obliged to repay 1 million Swiss francs as early as June 2021. The Foundation therefore decided in favor of the sale of GIMS to Palexpo SA to guarantee the regular organization of an International Motor Show in Geneva. IMS is the largest public event in Switzerland. Its economic impact on the Canton of Geneva is estimated at around 200 million francs per year. Details will be explained at a press conference on Tuesday 30 June at 2.30 pm in Room G of the Palexpo Congress Center.

Source: ansa

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