Thursday March 19, 03:37 PM
British motor show written off for 2010
LONDON (AFP) - The British International Motor Show has been cancelled for 2010 due to the economic downturn, the country's main auto industry body said Thursday, as carmakers struggle with a slump in demand.
The prestigious biennial show, which is one of the main auto industry events in Europe, was due to be staged at the ExCeL (Frankfurt: 929185 - news) exhibition centre in the redeveloped docklands of east London.
"Following a thorough consultation with the UK motor industry, the Society of Motor Manufacturers and Traders (SMMT) has taken the difficult decision to cancel the 2010 British International Motor Show (BIMS)," the SMMT said in a statement.
"The economic downturn and the unprecedented challenges facing the industry both in the UK and around the world have made it impossible for exhibitors to commit to a 2010 event."
SMMT chief executive Paul Everitt said: "The BIMS is the UK's largest consumer exhibition, hugely popular with the public, and has been attracting increasing numbers of visitors over recent years, making the decision to cancel the 2010 show an extremely difficult one.
"However, the global credit crunch has placed the automotive sector under unique pressure and has created a level of uncertainty that deters manufacturers from committing to large-scale, international events."
He said the SMMT remains "committed to showcasing the achievements and products of the automotive sector."
The cancellation comes as the British motor industry tries to cope with a major slump. New car sales have plunged and car plants have slashed production and staff.
February 2009 car and commercial vehicle production figures from the SMMT, due out Friday, were expected to show another big drop.
Rob Mackenzie, joint head of the show's organisers, added: "We fully endorse the decision to postpone BIMS until market conditions will again permit us to deliver a world class event that truly showcases the UK industry."
The venue, ExCeL, is one of Britain's biggest event spaces and is due to host the G20 summit of world leaders in April.
Howard Wheeldon, senior strategist at BGC Brokers in London, said he was not surprised that the BIMS had been cancelled, given the cost of staging the event and the state of the car industry.
"Given that there is little prospect of UK auto sales improving until 2010, given that the UK Government has shown little if any interest in offering real and lasting help to the industry... there is not much point in having a show," he told AFP.
"Liquidity and survivability are the issues now.
"Cancellation, though, at this late stage, is sending a message to the government to get its house in order providing better incentive to car buyers.
"If it fails to heed the message there won't be an industry left to save."
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
