Richard Coon, president of the Recreation Vehicle Industry Association (RVIA), was interviewed live on FOX Business Wednesday (Dec. 3) from Louisville, Ky., where the 46th Annual National RV Trade Show is taking place.
RV stocks are still a good investment. Investors should take a cue from billionaire Warren Buffett – whose purchase of another RV company (through Berkshire Hathaway Inc. division Forest River Inc.) shows his continued faith in the industry.
Like many American industries, the key to the RV industry’s recovery is for the government to restore credit markets for both consumers and businesses.
Consumers still want to buy RVs. RV sales are down because of external forces beyond the industry’s control. When credit markets return to normalcy, RV sales will be back up.
The RV industry is almost 100 years old and it has weathered downturns and hard times before. The industry will come through this challenging time and emerge stronger than ever.
Americans love RVing. When gas prices went through the roof, RVers didn’t stop RVing. They adjusted by taking shorter trips and staying closer to home.
The RV industry’s long-term outlook looks bright – in large part because of Baby Boomers.
Coon hit on the industry’s hot-button issues in the interview, echoing the points he made to industry members at the show’s kickoff event, Outlook 2009: We’ve Got Heart!, on Tuesday. According to an RVIA press release, among the subjects Coon discussed were:
Reporters from the New York Times, the Associated Press and Bloomberg News also attended the show to report on industry trends.