Rexhall Industries Inc. is offering Class A motorhomes featuring its T-Rex Double & Wide floorplan for sale to retail buyers at its company-owned sales and service center in Lancaster, Calif., company Chairman and CEO Bill Rex revealed in a statement issued Wednesday (May 19).
The T-Rex floorplan currently is available on the company’s Aerbus and RexAir brands.
Rexhall is offering units with the T-Rex floorplan for sale factory-direct because its independent dealers have taken a wait-and-see approach to ordering coaches with the new floorplan, which was introduced last summer, according to Rex.
The company’s independent dealers have taken a cautious approach because bigger RV manufacturers can offer inventory finance programs to their dealers while there are fewer “external flooring sources” for dealers wanting to stock product from smaller firms like Rexhall, Rex stated in the news release.
The T-Rex floorplan issues “may have caused sales of (Rexhall’s) standard-line products to suffer,” Rex said.
These factors help explain why Rexhall’s sales revenue plunged 63% during the first three months of this year to $4.8 million, compared with $12.9 million during the same portion of last year.
Rexhall delivered only 51 units to its dealers during the first three months of this year, compared with 152 a year earlier.
“We believe our new 2005 standard-line models coming out in June will help our sales,” Rex stated in the news release.
Separately, Rexhall reported in a Securities & Exchange Commission (SEC) document filed last Friday (May 14) that its service center property in Mesa, Ariz., is up for sale. The four-acre site and 10,000-square-foot building have a net book value of $1.2 million, the company reported in the SEC filing.
Rexhall also reported that its 1.7-acre property in Acton, Calif., is for sale. That property has a net book value of $201,000, the company stated.