GE Capital: RV Industry Growing
The recreational vehicle (RV) industry continues to experience strong and steady growth, according to performance data from GE Capital, Commercial Distribution Finance (CDF). Early headwinds this year, including the unusually cold weather that impacted manufacturing and transportation issues that slowed down shipments, haven’t derailed the positive trajectory of the industry.
Through June, CDF data is showing dealer inventory turnover running at a strong annual rate of over 2X and aging rates, reflecting inventory over one year old, remains healthy at under 10%. Additionally, the Recreational Vehicle Industry Association (RVIA) is predicting that the industry should expect to grow almost 9% in shipments for the full year, up from just under 6% projected earlier in the year.
“While the industry is growing at a slightly slower pace than 2013’s record year, it is still growing, and just as importantly, dealers are doing an excellent job in managing inventory,” said Tim Hyland, president of CDF’s RV group. “While weather and shipment delays contributed to a slower start to the year, the industry is in good position to meet or exceed RVIA’s full-year shipment projection.”