RV Industry Information for Lenders

^UPDATEDRV Shipments Improving
RV wholesale shipments are expected to rise in 2012, according to Dr. Richard Curtin, director of the Survey of Consumers at the University of Michigan. Curtin bases his positive RV outlook on favorable economic factors that he believes will outweigh negatives. On the positive side, RV demand will benefit from improving credit conditions, employment gains, stabilization of the housing market, and a continued strong preference for the RV lifestyle.  Curtin expects these factors to trump rising food and fuel prices, minimal wage increases, unemployment, and the threat of higher taxes.

Curtin says RV ownership rates increased among adults aged 35-54 and those 55-plus.  In the 35-54 demographic, ownership went from 9.0 percent in 2005 to 11.2 percent in 2011. Among consumers 55 and older, ownership rates grew from 8.6 to 9.4 percent. Ownership rates among young people 34 and under fell slightly, from 5.0 to 4.7 percent.  Click here for a RV shipment forecast and historical data.

ABA Information on Loan Delinquencies
RVs loans showed low delinquencies according to the American Bankers Association’s Consumer Credit Delinquency Bulletin. Click Here for the latest ABA information.

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.