The 2021 Geneva motor show has been cancelled with its organisers blaming the fallout from the coronavirus pandemic.

The Foundation that runs the show announced that next year’s edition will be cancelled after a survey of exhibitors found the majority would not attend in 2021.

It added that it was not confident that the health situation would improve to the point where it could guarantee that an event could take place with 600,000 visitors next spring.

In late May, the Foundation revealed that it had requested a loan of 16.8 million Swiss francs (circa £14.4m) from the State Council of Geneva to cover the costs of the cancelled 2020 show, which was called off just four days before it was set to open in March.

However, while the council offered the money, the Foundation rejected it because the conditions “aim to completely outsource the show including its conceptualisation to Palexpo SA,” which owns the exhibition centre that hosts the motor show.

In today’s announcement, the Foundation gave further details about the conditions it has rejected, which require a payment of one million Swiss francs (circa £850,000) by June 2021, before having the opportunity to generate additional funds. It was also required to host an event next year, which it could not guarantee.

As a result, the Foundation has decided to sell all rights to the organisation of the Geneva motor show to Palexpo SA.

The Geneva motor show is typically held in March each year and is considered one of the most important shows in the car industry. It is the largest public event in Switzerland, and the Foundation says the economic benefit to the area is about 200 million Swiss francs (circa £170m) each year.