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Botswana vehicle sales
Another significant auto event was affected by the COVID-19 lockdown, which most probably will further harm the new car market, however, might give a boost on demand for second-hand vehicles. Buying a used car was always much more affordable while getting a brand new car these days is not only times longer than before, but also more challenging as purchasing power dropped on average since the lockdown started.
Geneva International Motor Show (GIMS) has been held annually in March since 1905. This year the Motor Show was one of the first victims of the coronavirus. It became known to the public that the next event is planned to be held in 2022, as said on the official website of the GIMS.
According to the organizers, financial difficulties became the reason for postponing the Motor Show. The losses caused to the organizers because of cancellation of the GIMS 2020 just a few days before its opening are estimated at 11 million Swiss francs (around 11.5 million US Dollars). The foundation expected to cover losses with a loan granted by the Geneva State Council, however, the terms offered were found to be unacceptable, and the organizers of the Geneva Auto Show decided to skip the Show of 2021 since there is no available financing for it.
This year the Geneva Motor Show was supposed to become the 90th. The show did not take place due to the ban on public meetings with more than 1000 people by the Swiss authorities, as one of the measures to control the spread of coronavirus. Motor shows in Detroit and New York also became pandemic victims. Both events were canceled, while the Beijing Motor Show, which was originally scheduled for April, is still expected to be held from September 26 till October 5. The Paris Motor Show, which takes place every two years, alternating with a show in Frankfurt, will be held this year without a car exhibition.
Switzerland does not belong to the world leaders in the automotive industry, so the Geneva Motor Show stands out from the motor shows in Detroit, Frankfurt, and Paris with a more international character. In 2019 it was attended by more than 600,000 visitors and almost 10,000 media representatives with a significant follow-up economic effect. The effect of cancellation along with the overall industry slowdown will follow up as well.
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