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Monaco Coach Corp. has a dominant retail market-share position in the diesel-pusher Class A motorhome category, but the Coburg, Ore. firm wants to become a more serious player in other RV product categories.
During Monaco’s national dealer meeting earlier this summer, Chairman and CEO Kay Toolson said Monaco wants to grow its gas Class A, Class C motorhome and towables businesses.
In diesel Class A’s, Monaco had a 30.4% retail market share in the first four months of this year, well ahead of No. 2 Fleetwood Enterprises Inc., at 21%, according to data Monaco presented during the William Blair & Co. investment advisors conference in Chicago during June.
Diesel pushers currently account for 80% of Monaco’s sales revenue while gas Class A’s and towables account for only 10% each, according to the data.
Meanwhile, in gas Class A’s, Monaco ranked No. 4 during the first four months of this year, behind Winnebago Industries Inc. at 22.7%, Fleetwood at 21.4% and Coachmen Industries Inc. at 9.1%. Monaco’s retail market share in gas Class A’s was 7.1% during that period.
“We want to be second and eventually first (in gas Class A’s), and we want to partner with you to do that,” Toolson said during the dealer meeting in Las Vegas. “We want to build the products that will help each of us be more successful in the gas market, so we can grow that business together.”
Toolson added he believes Monaco’s model year 2004 gas Class A lineup will help the company achieve growth in that sector.
In Class C’s, Toolson said, “We now have a whopping 2% of the market. By working closely with you, we’re confident we can get to 5% and eventually 10%. We’re listening to you to improve our Class C’s, and we’re going to make these products more competitive.”
Monaco added 300,000 square feet of space to one of its factories in Elkhart, Ind., to build more towables. The expansion was completed in early July.
Toolson told the gathering Monaco had “less than 2% of the towable market, which represents a tremendous opportunity for all of us.
“Now, I’m not going to stand here and tell you that we want 20% or 30% of the towable market, because we probably don’t. We’re not in all price points. But we’ve more than doubled our towable plant capacity in Indiana (to 130 units per week).
Toolson said he believed the Next Level toy-hauler introduced at the dealer meeting in Las Vegas was “the first example of our brand new towables. By Louisville (Dec. 2-4), we plan to introduce a lower-price, lighter-weight, towable. This product will complement what you already have on your lots and will allow us to further grow your towable business.”