RV Industry Information for Lenders
NEWRV
Industry Poised for Rebound
Share this industry shipment forecast with lenders. Source:
Wall Street Journal
A University of Michigan researcher is forecasting a 27
percent increase in shipments by the recreational vehicle industry next
year. The study by Dr. Richard Curtin, director of consumer surveys at
the University of Michigan, predicts shipments of 203,500 units in 2010,
compared to 159,500 in 2009. Curtin says the appeal of the RV lifestyle
and its economic value should lead to the improved market
conditions. Click
here for more.
NEWNew
Census Data Shows Annual Revenue at US RV Dealerships Approached $20
Billion
The total number of RV dealerships
increased by less than two percent between 2002 and 2007, but sales
revenue at RV dealerships grew at a healthy rate during the period, with
increases in the sales of towable RVs more than offsetting the decline
in motorhome sales, according to data just released by U.S. Census
Bureau. Revenue from service contracts, credit life insurance, and from
arranging financing also increased sharply during the five-year
period. Click
here for the full report.
RV Financing
Video to Share with Lenders
One of the most critical issues facing the RV industry today is the
availability of retail and wholesale credit. In addressing this
challenge, RVIA has produced “RV Financing: A Vehicle for
Growth,” a DVD designed to introduce banks, credit unions, and
financial institutions to the RV market. It provides an entertaining,
informative, and positive look at RV travel, industry demographics, and
the Go RVing effort, as well as highlights key statistics illustrating
why RV financing is a stable, profitable line of business.
Click
Here to view the video via Windows Media
Player.
Survey of Lenders' Experiences
RVDA is pleased to work with RVIA to distribute a PDF file
of the latest annual Survey of Lenders' Experiences. The survey
shows the long-term profitability and low default rate of RV loans and
is an excellent tool to demonstrate the financial stability of the
typical RV customer to prospective lenders.
