RV industry not likely to rebound anytime soon

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RV industry not likely to rebound anytime soon

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(June 4, 2008) -- The RV industry isn't in for a turnaround anytime soon, according to the Reuters News Agency. The slump in RV sales that has already forced several leading RV makers to close up shop is expected to force others out before the market rebounds, Reuters reports. A turnaround, some analysts say, won't occur until at least late in 2009, if then. In the meantime, even the strongest manufacturers are feeling the pain, as the industry experiences what will likely be its fourth straight year of declining sales and its worst single year since 1992.

The reason, says Craig Kennison, an analyst at Robert W. Baird & Co, is a "dismal" combination of rising fuel prices, tighter lending standards and falling homes prices that has created a "reverse wealth effect" for consumers and killed demand for the RV industry's pricey, gas-guzzling products.

Since peaking in 2004, total industry shipments of the two best-selling categories of Class A and Class C motorhomes have fallen 42 percent.

Still, the Recreation Vehicle Industry Association's latest forecast projects that total 2008 RV shipments will total about 304,000 units -- about 86% of the 354,000 units shipped in 2007.

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