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National RV Holdings Inc. lost $3.3 million during the first quarter but the company believes it will make “progress towards breakeven in the second quarter and a return to profitability in the second half of 2002,” according to Brad Albrechtsen, president and CEO.
National RV’s sales revenue increased 27% during the three months ended March 31 to $79.3 million. Included in the growth was a 14% increase in sales revenue at its County Coach highline motorhome subsidiary and a 45% increase in National RV-brand motorhome sales revenue.
The Perris, Calif.-based company’s towables sales revenue also increased 18% when the first quarter of this year is compared with the year-earlier period.
Wholesale shipments of National RV diesel motorhomes increased 42% during the first quarter to 325 units, while shipments of its gas engine motorhomes declined 8% to 197 units. The decline in gas motorhome shipments “reflects the company’s decision to dedicate additional manufacturing capacity to fulfilling National RV brand diesel motorhome orders,” Albrechtsen said.
Meanwhile wholesale shipments of National RV towables increased 36% during the first quarter to 364 units.
The installation of four new paint booths at National RV’s manufacturing complex in Perris was delayed, but the first is expected to go online next week (April 29-May 3), with the others following in subsequent weeks.
The new paint booths will allow for an increase in National RV-brand diesel motorhome production.
Meanwhile, “excess Country Coach inventory was reduced in the first quarter and is expected to decline further in the second quarter, allowing the production of County Coach brand products to return to more normal levels,” Albrechtsen added.