"There is just not enough content to stage a show that meets the public expectations," said organisers, Expertise Events in a statement.
It is the second year in a row Brisbane's Motor Show has been scrapped, leaving little hope for a show next year.
Following a rather empty motor show calendar in 2009, the news now means the Australian public will have only one motor show opportunity this year when the Australian International Motor Show (AIMS) is held in Sydney in October.
"Cancelling this event is a huge commercial burden," said Expertise Events managing director, Gary Fitzroy." However, what we are most concerned about is how this reflects on the perception that the industry has let down Queensland motor enthusiasts, and that is what we are most concerned about."
Manufacturers who were due to support this year's show included Great Wall Motors, Honda, Holden, Hyundai, Isuzu, Kia, Land Rover and Lotus. Those on the other side of the fence include Audi, BMW, Lexus, Mazda and Mercedes-Benz.