The show, which takes place every second year, has been running since 1903. The only time it has been cancelled before were between the years of 1939 and 1947 because of World War II.
“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,” SMMT (Society of Motor Manufacturers and Traders) CEO Paul Everitt said. “Both SMMT and the industry are committed to displaying the achievements of the sector but in a way that better reflects the changing dynamics of the industry.”
Last year's event attracted 472,300 visitors, but with the UK car industry's sales down 28.7 per cent in the first two months of this year, discussions between SMMT and exhibitors resulted in the difficult decision to not stage the event.
The SMMT said it is too early to say whether an event would take place in 2012.
Discussions are taking place to decide what replacement events could take place.