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Fed’s Rate Cut Could Bolster Industry’s Sales

September 28, 2007 by · Leave a Comment 

The RV industry should profit from the Federal Reserve’s half-point cut in the federal funds rate, helping to nudge potential buyers off the fence as the move effectively lowered the prime lending rate to 7.75%. “The cut will help the overall industry, but benefit motorized products the most,” said Kathryn I. Thompson, director/ senior equity analyst, Avondale Partners LLC, Nashville, Tenn. “Historically, any type of rate cut has been positive. Depending on the impact on floorplan rates and... Read more

Baird Poll: Motorized Retail Soft, Towables Up

September 28, 2007 by · Leave a Comment 

In its recently released “Q3 RV Dealer Survey,” investment firm Robert W. Baird & Co. Inc. found that motorhome demand remained soft while the towable market was healthy and retailers are planning for growth. However, an eroding housing market still looms and could depress discretionary spending. Milwaukee-based Baird polled 161 dealers to gauge retail trends, inventories, promotional activity and 2007 expectations heading into the fourth quarter. The following offers highlights... Read more

N.J. County Opposes Stricter Park Model Laws

September 28, 2007 by · Leave a Comment 

A New Jersey proposal that would place stricter building and inspection guidelines on recreational park trailers is facing opposition in Cape May County, home of the most campsites in the state, according to The Press, Atlantic City. The state’s Department of Community Affairs (DCA) has proposed new rules regarding “park model” trailers that require more durable structures designed to protect the health and safety of occupants. Jay Otto, president of the New Jersey Campground Owners... Read more

Spending Increases in August, Inflation Eases

September 28, 2007 by · Leave a Comment 

Consumers shrugged off a rash of bad news to spend more than expected in August while a key measure of inflation eased to the slowest pace in 3 1/2 years. According to the Associated Press, the Commerce Department reported Friday that consumer spending rose by 0.6% in August, the best showing in four months and better than the 0.4% increase that had been expected. Incomes rose by 0.3% last month, slightly lower than had been expected. A closely watched gauge of inflation was up just 1.8% in August,... Read more

Wholesale Shipments Decline 8.3% in August

September 28, 2007 by · Leave a Comment 

August towable and motorized wholesale shipments were down from a year ago as overall deliveries declined 8.3% for the month. According to the Recreation Vehicle Industry Association (RVIA), August shipments fell to 30,400 units compared with 32,800 in 2006. For the first eight months, deliveries dropped 11.8% to 254,300 units from 288,300 the previous year. August travel trailer shipments were again down as dealers continued to be cautious in ordering. The sector showed a 7.6% decline to 15,700... Read more

NYSE Notifies National RV of Noncompliance

September 27, 2007 by · Leave a Comment 

National RV Holdings Inc. announced late Wednesday (Sept. 26) of notification on Sept. 20 by the NYSE Arca Inc. that the company has fallen below the continued listing standard for minimum share price and the minimum market value. Shares of the Perris, Calif.-based firm, parent to motorhome builder National RV Inc., closed Wednesday at 49 cents per share. NYSE Arca standards require that a listed company’s common stock trade at a minimum average closing share price of $1 and the market value... Read more

Foretravel Unveils 40-foot Nimbus XT Coach

September 27, 2007 by · Leave a Comment 

Foretravel Motorhome Inc. for 2008 introduced the first 40-foot motorcoach in its non-tag axle Nimbus XT series built on the Nacogdoches, Texas, company’s proprietary 34,800-pound GVWR TravelRide chassis. “You lose storage space when you build on a tag-axle chassis,” said Foretravel President Lyle Reed. “We’ve redesigned the chassis to manage the weight so that we can do the kind of things that our owners want in terms of space.” The double-slideout Nimbus XT Modena is equipped... Read more

Small Cars Post Big Sales as Buyers Downsize

September 27, 2007 by · Leave a Comment 

With gas prices hovering in the $3 per gallon range, it’s probably no surprise that sales of smaller cars are increasing. But, according to a report by Bankrate.com, what may be shocking is just how significantly sales of small or compact cars are up, and at what cost to consumers. Online car information provider Edmunds.com said compact car sales marked a record month in May, grabbing 21% market share. For every five new cars sold that month, one was a compact. “It’s up dramatically,”... Read more

Spartan Lands $52 Million Military Subcontract

September 27, 2007 by · Leave a Comment 

Spartan Chassis Inc. said it received a $52-million subcontract from Force Protection Inc. to support the production of Cougar series advanced tactical wheeled vehicles for military use. The contract calls for the Charlotte, Mich.-based unit of Spartan Motors Inc., maker of custom chassis for motorhomes and emergency response cars and trucks, to supply and integrate key chassis components for the vehicles by March 2008. Force Protection Inc. is a Ladson, S.C.-based manufacturer of mine-resistant... Read more

ARC Forum Touts Recreation as Political Issue

September 27, 2007 by · Leave a Comment 

Recreation issues can have an important place in the public policy debates associated with the elections of 2008, according to a diverse group of national policy experts who spoke Sept. 20 at “Recreation 2008: Making Our Issues Count” in Washington, D.C. The national forum, which was held by the American Recreation Coalition (ARC), brought together key recreation and conservation leaders to discuss ways to encourage candidates for federal and state offices in 2008 to consider recreation... Read more

CDC Looks to Begin Trailer Testing in October

September 26, 2007 by · Leave a Comment 

Air-quality tests are expected to begin late next month on government-issued trailers in Mississippi as federal officials probe concerns that the temporary homes for disaster victims are contaminated by higher levels of formaldehyde. The Houston Chronicle reported that scientists from the U.S. Centers for Disease Control and Prevention (CDC) in Atlanta traveled to Mississippi on Tuesday (Sept. 25) to take samples that will help them develop protocols for testing trailers for levels of formaldehyde,... Read more

General Motors, UAW Agree to Tentative Terms

September 26, 2007 by · Leave a Comment 

The United Auto Workers and General Motors Corp. agreed Wednesday (Sept. 26) to a tentative contract that ends a two-day national strike — the first against the automaker in 37 years — and puts responsibility for retirees’ health care into the union’s hands. GM and the UAW confirmed that the deal creates a GM-funded, UAW-run trust to administer retiree health care. The two sides gave no other details, but a person briefed on the contract told the Associated Press that it also would... Read more

KOA Appoints New VP of Franchisee Services

September 26, 2007 by · Leave a Comment 

Kampgrounds of America Inc. (KOA) recently hired Louise Everett as vice president of franchisee services, replacing Carol Preble. Everett, most recently a regional manager for Equity LifeStyle Properties (ELS), will join KOA’s home office staff in Billings, Mont., early next month, according to a news release. In her new role, Everett will oversee day-to-day operations of 440 franchised KOA campgrounds throughout the U.S. and Canada. “I’m coming to KOA because the leaders of this company have... Read more

Lender Solex Partners With Advantage Credit

September 26, 2007 by · Leave a Comment 

Online lender Solex LLC, Idaho Falls, Idaho, announced today (Sept. 26) at RVDA’s RV Dealers International Convention/Expo in Las Vegas a partnership with Advantage Credit International to provide automated credit reporting for recreational vehicle and marine loans approved through Solex’s financing and insurance software. Through the partnership with Pensacola, Fla.-based Advantage Credit, both dealers and lenders have access to complete credit reports from the three credit reporting bureaus... Read more

Actuant Reports Higher 4Q Earnings, Revenue

September 26, 2007 by · Leave a Comment 

Diversified manufacturer Actuant Corp. reported a 24.2% increase in fiscal fourth-quarter profits Wednesday (Sept. 26), with the company benefiting from higher sales volumes and cost-cutting actions. The Butler, Wis.-based manufacturer of motion control equipment and tools reported net income for the quarter, ended Aug. 31, of $31.4 million compared with $25.2 million for the same period a year ago. Revenue during the period grew 20% to $389.7 million from $324.6 million. For the year, Actuant reported... Read more

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