Matthew W. Daus was one of the guest speakers as part of an industry panel for the Greater California Livery Association’s (GCLA’s) annual show/training conference. Other speakers included GCLA President Mo Garkani and Executive Director Sara Eastwood-Richardson, along with executives from General Motors.
The primary topics were the future of the limousine industry and electric vehicles. Key takeaways from Daus’ address included:
- The limousine industry is not out of the woods yet. Many in-person conventions and business events have already been cancelled for 2021, but with the vaccination rollout picking up steam, business travel is expected to spike in 2022.
- Though business travel is not likely to return quickly, drivers may be incentivized to return by Sept. 5, when Pandemic Unemployment Assistance and Paycheck Protection Program (PPP) funds are expected to run out.
- To be prepared and remain relevant – and keep drivers working – companies should be exploring other business opportunities, such as package delivery, non-emergency medical transport and corporate employee shuttles.
- Until business travel returns to pre-pandemic levels, companies should continue to tighten their belts and be prepared if PPP money and other funding streams run out. Some options to consider include mergers and acquisitions, joint ventures, retirement, and filing for bankruptcy.
“There is no downside to conducting this exercise preemptively and ensuring that your company is prepared for anything,” concluded Mr. Daus.
Source: Windels Marx