GE Capital reported that 41% of survey respondents said they expect sales to rise 5% to 10% next year, and an additional 26% expect RV sales to grow 10% to 15%. This is similar to last year’s sentiment, where 37% of respondents thought their sales would grow 5% to 10%.
“The RV industry has reason to feel optimistic once again, with strong shipment and retail registration numbers and a relatively strong economy as we close out the year,” said Tim Hyland, president of CDF’s RV group. “Our inventory financing portfolio is also showing healthy aging and turnover metrics, so overall, a solid year once again for the RV industry which should carry over into 2015.”
Travel trailers (50%) will remain the most popular type of RV for the third year in a row, according to survey respondents. This is followed by motorhomes (25%) and fifth-wheel trailers (20%).
Survey respondents were most optimistic about consumer demand (30%), availability of wholesale financing (15%) and product availability (15%). Conversely, the biggest areas of concern were product availability (22%) and consumer demand (20%).
“While there is optimism around consumer demand, the survey shows dealers and manufacturers are mindful of the impact it has both ways,” said Hyland. “The RV industry’s performance is closely tied to consumer confidence and there are a lot of reasons to feel good about next year. However, the industry will keep its eye on the economy and remain nimble to fluctuations.”
The RV industry survey of 184 respondents was conducted Dec. 2-4 during the annual Recreational VehicleIndustry Association (RVIA) National RV Trade Show in Louisville, Ky. Sixty-nine percent of the respondents were dealers, 13% were manufacturers and 18% were other industry participants.
CDF has supported the RV industry with flexible inventory financing products for more than 30 years. Inventory financing, also known as floorplan financing, allows dealers to stock, market and sell a wide variety of products from RV manufacturers.