Consumer credit problems were one reason why RV dealers do not see a stronger rebound in RV retail sales during the second half of this year, according to the A.G. Edwards & Sons investment firm.
The 45 RV dealers surveyed by the Edwards firm during June estimate retail sales will rise 3.5% to 4% during the second half of this year, compared with the relatively weak second half of 2000.
During June, 31% of the dealers surveyed believed their customers had “above-normal” credit problems. During June of 2000, the dealers surveyed reported 22% of their customers had above-normal credit problems.
The consumer credit problems were the result of customers being overextended financially or having “overall bad credit quality,” according to the Edwards firm.