GE Capital: Expect Growth in RV Sales, Financing
Optimism remains high in the recreational vehicle (RV) industry, according to survey results released by GE Capital Commercial Distribution Finance (CDF).
Forty-one percent of survey respondents said they expect sales to rise 5% to 10% next year, and an additional 26% expect RV sales to grow 10% to 15%. This is similar to last year’s sentiment, where 37% of respondents thought their sales would grow between 5% to 10%.
“The RV industry has reason to feel optimistic once again, with strong shipment and retail registration numbers and a relatively strong economy as we close out the year,” said Tim Hyland, president of CDF’s RV group. “Our inventory financing portfolio is also showing healthy aging and turnover metrics, so overall, a solid year once again for the RV industry which should carry over into 2015.”
Survey respondents were most optimistic about consumer demand (30%), availability of wholesale financing (15%) and product availability (15%). Conversely, the biggest areas of concern were product availability (22%) and consumer demand (20%).
CDF has supported the RV industry with flexible inventory financing products for more than 30 years. Inventory financing, also known as floorplan financing, allows dealers to stock, market and sell a wide variety of products from RV manufacturers.