How will the new covid variant affect dealers today? Tom Maoli weighs in.

On today’s show, we’re diving into today’s headlines, from inventory to the latest COVID variant, omicron. What does all of this mean and how could you be impacted? We’re pleased to welcome back Tom Maoli, President and CEO of Celebrity Motor Cars and host of Go Big or Go Home on iHeartRadio.

It’s an exciting time to be a car dealer says Maoli. He says they’re making more money than they ever did. Profits are up, overhead is down, and interest rates are down. Maoli says the concern that he has is what’s the impact of fixed ops down the road? It’s going to be an interesting time.

Maoli says it’s not only an interesting time on the sales side but also on the repair side as well. With inventory shortages, customers are now trying to get everything fixed on their vehicles. The pent-up demand is insane, it’s unbelievable says Maoli.

Almost every automaker is coming out with an electric vehicle. Maoli believes Toyota is one of the smartest companies in the world. He says they aren’t betting on electric vehicles, the way everyone is. Maoli also says, no one has tested the secondary market of a used electric vehicle. The batteries are usually more expensive than the car. There are a lot of unknowns in the marketplace and consumers aren’t just yet sold on them.

Maoli doesn’t believe it’s going to get back to normal until 2023. When you look at the manufacturers, they have record profits. He says it due to the same reason dealers are making money. There are fewer manufacturing costs, interests and they’re making more per vehicle. Only time will tell.

For 2022, Maoli does believe we’re going to get some production. The industry is going to continue to boom. He believes dealers are going to make big profits, with electric vehicles showing up in the showrooms. He says the next two years is going to be crazy in the automotive business.

Did you enjoy this podcast with Tom Maoli? Please share your thoughts, comments, or questions regarding this topic by submitting a letter to the editor here, or connect with us at newsroom@cbtnews.com.