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RV sales slow but gaining steam

Category: uncategorized
Source: WAVE TV Louisville, KY
Publish Date: Tuesday, December 1, 2009
Summary: An industry hit particularly hard by the credit crunch is hoping a huge event in Louisville that attracts international guests will help boost sales. The 47th Annual National RV Trade Show is at the Expo Center, where manufacturers will be selling their products to dealers.

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An industry hit particularly hard by the credit crunch is hoping a huge event in Louisville that attracts international guests will help boost sales. The 47th Annual National RV Trade Show is at the Expo Center, where manufacturers will be selling their products to dealers. 

The industry has been struggling. In April towable retail sales were down 40 percent according to Statistical Surveys, Inc, but since then have been slowly climbing up.

"Last month for example we increased 16 percent over what we sold last year, which is very good news for the industry," said Richard Coon RVIA president. "So the industry is coming back."

Sellers say people aren't buying as many large luxury vehicles, focusing instead on the smaller RVs and travel trailers.

"The smaller coaches actually sleep more people," said John Draheim, president and COO of Fleetwood RVs based in Decatur, IN. "It's a much cheaper vacation alternative. It also has to do with fuel economy. It also has to do with the price."

Analysts predict 2010 will be better than 2009 for the RV industry.

"A lot of motor homes will cost $150,000 to $400,000, and you can't get a loan for them," said Coon. "No matter how good your credit is, the banks aren't loaning that large amount of money. As the banks become more freed up, those motor homes will start selling again."


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