CEO Update – January 2022

I have always found the turn of the year to be a good time to reflect on the year past and set intentions for the year ahead. From the outset, we viewed 2021 as a year of great uncertainty, with many challenges. Following a tough 2020, setting intentions beyond the basics of keeping people safe and the co-op viable was difficult. COVID cast a shadow over most planning and we characterized our financial plan in terms of a rolling forecast rather than a firm budget. There was a great range of possible outcomes.

So much could and did change over the course of the year, including varying restrictions on travel and activities. Amongst the unexpected was the impact of the pandemic on global supply chains, making it difficult to add vehicles as easily as in the past and dampening our ability to increase vehicle supply as demand recovered during the summer. During the second half of the year, after restrictions on travel within the province were lifted, we saw a sharp increase in usage compared to the same period in 2020.

I am proud of the way that the Modo team has responded throughout. The team stayed safe and to this day I am not aware of a single COVID infection related to the use of a Modo vehicle by members or staff. We added as many cars as we could in the second half of the year with a focus on those with reduced GHG emissions, doing our best to moderate our environmental impact while matching supply to the increasing demand.

And through it all, we were able to stay focused on our Purpose, keeping our costs under control to maintain affordability, raising the bar on our desire to be a more inclusive employer and co-operative, and ensuring that we remain a dependable alternative to private vehicle ownership.

Though COVID has still not released its grip on our health and our economy, the year ahead appears to be far less daunting than a year ago. Our co-op is in a good position to further deliver on its Purpose, with the resolve, team and financial means to make that happen. We are entering a period where the central themes are a return to growth and increased investment in the vehicles, people and systems to make growth happen.

Finally, I want to take the opportunity to thank our members for your support and loyalty throughout the year. The words of encouragement many of you have sent are shared with the whole team and much appreciated. Whilst COVID is not done with us yet and the climate crisis will undoubtedly create new challenges, know that we are here for you and remain focused on being affordable, convenient, inclusive and sustainable.