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Tim Winkeler is president and CEO of VIP Tires & Service.
Updated: January 8, 2024
Economic Outlook
2024 Forecast: Despite ‘headwinds’ for consumers, VIP Tires exec is optimistic
Tim Winkeler, president and CEO of VIP Tires & Service, says his outlook for automotive retail is very optimistic. With the total number of miles being driven continuing to climb and the average age of vehicles on the road increasing, the automotive retail sector is in a strong growth mode.
Winkeler believes Maine’s economy will be just fine in 2024.
“Although there are some headwinds from a consumer perspective, such as rising interest rates and debt payments,” says Winkeler.
“I believe we will continue to see net positive migration into the state as well as healthy increases in wages for most jobs, which will more than offset any challenges that may exist.”
VIP Tires & Service, based in Auburn, is northern New England’s largest privately held automotive service provider and tire dealer. Its 69 locations are up from 40 in 2001. The workforce has grown from about 490 in March 2020 to 650 today.
“We have plans to add to our staff at every location in 2024,” says Winkeler.
“The current demand environment is such that as soon as we can onboard the right person and get them trained to our processes, they become productive, and it allows us to welcome even more customers into our shops.”
“Of course, automotive service isn’t for everyone, but we are seeing increased interest in the trades as a career among many young people today, so we are bullish on our ability to continue to increase employment across Maine and New England,” he says.
VIP Tires & Service plans to open four to five new locations in 2024, targeting Connecticut, Vermont and Massachusetts, including Cape Cod. The company also plans to expand its older location in established markets in Augusta and Yarmouth, where they have outgrown their current facilities.
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