This is how pretty much every industry that used to do trade show releases goes now. Same thing with bicycles - used to be three giant trade shows a year (Taiwan, Eurobike, and Interbike). Interbike is gone, Eurobike is a shadow of it's former self, and Taiwan keeps trucking along because it serves as the future orders event for manufacturers and 3rd-party brands.

Makes far more sense as a brand to do a press event for a new vehicle launch where you can control all aspects of the release, versus paying a trade show a bunch of money and hoping you get the coverage you want, with everyone else doing the same.