CHICAGO – September 22, 2015 — Shipments and retail registrations of recreational vehicles (RVs) are both up, according to data from the Recreational Vehicle Industry Association (RVIA) and Statistical Surveys Inc. (SSI). These metrics have positive implications for the RV industry, noted Commercial Distribution Finance (CDF), a business of GE Capital and major provider of financing to the industry.
Industry shipments across North America are up 4.4 percent in 2015 compared to 2014, according to the RVIA, despite current economic headwinds in Canada. Moreover, U.S retail registrations are up 16%, according to SSI.
“Our internal CDF data support those findings,” said Tim Hyland, president of CDF’s RV group. “We’re seeing improved inventory turns year-over-year through August 2015, which points to a healthy sell-through of financed inventory. This follows year-end financial statement trends that saw improved revenues and earnings across the CDF dealer base year-over-year from 2013 to 2014.”
As the RV industry prepares to attend the eighth annual RV Open House set for Sept. 22-24 in Elkhart, IN, CDF is premiering its proprietary Dealer Insights portal, a tool that gives U.S. RV dealers relevant information about inventory, demographics and financing to help guide their business decisions. For example, the portal allows dealers to identify geographic areas where the highest growth rates are expected, allowing for very targeted marketing or advertising campaigns. Additionally, dealers who finance through CDF can see how they’re faring against peers.
“We’re rolling out the Dealer Insights portal in the U.S. because it’s important to us to share the information we collect to help them grow their businesses,” Hyland added. “Being an entrepreneur is tough, but having access to crucial insights makes it a little easier.”
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.
About GE Capital, Commercial Distribution Finance
Commercial Distribution Finance (CDF) provided $46 billion in financing for more than 40,000 dealers and more than 2,000 distributors and manufacturers globally in 2014. CDF operates in 60 countries and provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products. For more information, visit www.gecdf.com.
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com
*On March 1, 2016, Wells Fargo acquired GE Capital’s Commercial Distribution Finance business, which is now part of the Wells Fargo Commercial Distribution Finance business.