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TRG’s Dealer Survey: Retail Signs Encouraging

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April 6, 2010 by   Leave a Comment

TRG logoEditor’s Note: The Thompson Research Group monitors the RV industry for its investor clients. Following are highlights from TRG’s recent dealer survey conducted in the first quarter of 2010 from a pool of dealers that account for in excess of 50% of the U.S. RV industry sales. As such, these results provide  a good leading indicator of broader consumer discretionary retail credit and sales trends, in addition to wholesale/inventory financing trends.

Key Points:

  • Retail sales trends have improved for both motorized and towable RV segments.
  • Sales outlook improved from prior RV dealer surveys.
  • Financing remains a focus – retail credit modestly better.
  • Dealers still reporting low motorized inventories.

We received more consistent feedback on positive towable retail trends vs. motorized sales trends. That said, motorized retail sales trends clearly have improved sequentially, and we will continue to monitor its progress. We are still relatively early in the RV retail sales cycle, but initial signs are encouraging. The Street remains focused on retail sales trends, as we believe this ultimately dictates the trajectory of the recovery of the RV industry.

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