Editor’s Note: To view an accompanying video scroll to the right side of the RVBUSINESS.com home page or click here.
Monday, the country faced an extreme drop in the stock market and Michiana’s biggest industry reacted to the dramatic day.
WSBT TV reported that Gregg Fore, president of Elkhart, Ind.-based Dicor Corp., says from his experience, RV consumers are more interest rate sensitive versus stock market sensitive.
When the stock market dropped by 1,000 points Monday morning as a businessman Fore says he was not too concerned.
Fore adds with the way the global economy is playing out there may be an upside to this, at least for his industry.
“I wouldn’t think there would be any major moves immediately because the market has been relatively positive,” says Fore.
Fore has been in the RV industry for close to 50 years and says a few days of stock volatility doesn’t scare the industry.
Fore says with the U.S. dollar being stronger it could have positive effects on those in the RV industry that buy from China.
“With the Chinese dollar currency devaluation I think we should start to see some positives on our part on our part, on the buy side,” says Fore.
Fore says with the way the RV industry sets prices sometime in the near future RV consumers could see some price decreases.