Coachmen Industries Inc. believes the RV oven and range shortage will continue through February, so the company is giving all “sold” orders first priority for completion when parts become available, the company revealed in its fourth quarter earnings release on Monday night (Feb. 2).
As is the case with other RV builders, Coachmen is offering customers microwave or convection ovens in lieu of conventional ovens, as well as an “oven-delete” option, the company reported.
Coachman also disclosed that its shipments during 2003 reflect a shift in its product mix towards higher wholesale- and retail-priced motorhome and towable RV models. That is indicated by the fact the number of units it shipped in 2003 was down 4% when compared with 2002, but its sales revenue increased 12.1%.
Shipments of Coachmen’s higher-end Class A motorhomes were up 13.4% last year, and its diesel pusher Class A shipments were up 50.4%.
Deliveries of Coachmen’s higher-end fifth-wheels also increased 34.8% when 2003 is compared with 2002.
“Production rates have been increased in most plants, including two new facilities brought on line (last year),” Coachmen reported. “Further production increases are being planned for early 2004.”
Coachmen Chairman and CEO Claire Skinner added: “We believe substantial progress was made in positioning Coachmen for greater growth in 2004, despite the challenges we faced during the first and fourth quarters of 2003. The underlying fundamentals of both business segments (RVs and modular homes) have been steadily improving and we are experiencing strong demand for our products in both RVs and housing.
“Our products are very well positioned for our customers, we are expanding into new markets consistent with a solid strategic plan, we’ve brought on new (manufacturing) capacity and we are building greater strength in our management team,” Skinner said.