Canadian RV dealers say they’re facing a crisis and need access to government credit to finance inventories and sales.
The Canadian Recreation Vehicle Dealers Association (RVDA of Canada) is asking the federal government to find a way to help them through the bad times, according to The Canadian Press.
RVDA President Michel Cote says, unlike auto dealers, his members don’t have affiliated financing companies, which can tap government credit sources.
He welcomed the government’s $12-billion secured-credit facility, announced earlier this year, but said that doesn’t flow down to the RV dealership floors.
With banks wary about loans and non-bank lenders reluctant to provide financing, dealers are caught, he noted.
He says the government should find a way to give his members access to credit to get the industry through a dangerous period.
He said RVs produce valuable spin-off effects in the tourism and recreational industries.
“Canada must take a bold step in addressing this credit as it relates to the RV industry,” he said.