The future of the Geneva Motor Show is at stake

The future of the Geneva Motor Show is at stake

June 27, 2020 0 By autotimesnews

In an interview with La Tribune de Genève, Sandro Mesquita, GIMS Director, spoke about the organization’s difficult financial situation.

When the coronavirus pandemic broke out in Europe in February, the organizers of the Geneva Motor Show as long as they could pulled off the event, but the closure still took place. And literally a couple of days before the press day, when everyone had booked accommodation and bought tickets. Given the difficulties faced by Palexpo SA, the promoter of the show, this reluctance to announce the closure of the auto show is now understandable.

Sandro Mesquita, director of the Geneva Motor Show, recently gave an interview to La Tribune de Genève, in which he did not restrain himself and embellish the situation. Judging by his words, the event is on the verge of a disaster.

“If we do not find a solution by September, we run the risk of liquidation. We will have to put up for sale our assets, in particular, the brand and shares of Palexpo SA, ” – said Mesquita.

In a press release published in May, representatives of Palexpo SA said the organization refused a loan of 16.8 million francs (almost $ 17.7 million), proposed by the Geneva government. The car dealership organizers needed financial support to cover the losses from the cancellation of the event in 2020 and prepare for 2021.

In a Palexpo SA loan cancellation statement, the group stated that “the GIMS [Geneva International Motor Show] participants are encouraging us and strongly recommend planning the next event for 2022.” Sandro Mesquita assured that it would be very difficult to host a show in Geneva in 2021 if the organization responsible for it survived in the next few months. Private investment or an agreement with the canton of the Geneva government are potential solutions to the problem.