RV Industry Information for Lenders

^UPDATEDRV Industry Poised for Rebound 
Share this industry shipment forecast with lenders.  A University of Michigan researcher is forecasting a 39 percent increase in shipments by the recreation vehicle industry in 2010. The study by Dr. Richard Curtin, director of consumer surveys at the University of Michigan, predicts shipments of 230,300 units in 2010, compared to 165,700 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.

^NEWRV Retail Loan Delinquencies Fall
In a positive sign for the economy, the number of consumers who were delinquent on their loans fell in eight of 11 loan categories in the fourth quarter of 2009, according to the American Bankers Association.  RV loan delinquencies fell from 1.64 % to 1.44 %.  Click here for more.

New 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.