Pedata RV Reports Optimism At Recent RV Auctions

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Clint Ethington of Pedata RV Center hopes that movement at RV auctions is a good sign that the RV industry is picking up. While new RV sales are at record low numbers, used RV sales are picking up.

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When banks have more than the average amount of repo's on their hands, and they can't move those RVs at auction, they tighten up on lending on both the wholesale flooring and retail lending sides. When those extra RVs sell at auction, those banks are more apt to lend. We have high hopes that this signals the beginning of turnaround in the industry and the economy as a whole.

Wholesale shipments of all new RVs, including both motorized and towable RVs, were up 30% in last month from December 2008. However, the shipment numbers in January 2009 were off 70.7% from January 2008 according to RVIA (Recreation Vehicle Industry Association). While these numbers reflect little movement of new RVs so far in 2009, used RVs numbers could be picking up.

There is optimism for used RV sales coming out of RV auctions held across the country in the last few weeks. Most RV auctions are closed to the public and only open to those with dealer or wholesale license. Auctions are often held once a month and most of the inventory is made up of private party repossessions, dealer repossessions, or a dealer liquidating inventory. Where some auctions have averaged 20-40 RVs on the floor in the past, today those numbers are in the hundreds. While January seemed to be a stale month for sales Nationwide, the end of February is showing some movement which could indicate that dealers are doing better. "If more dealers are showing up at auctions (which is what we are seeing), it means there are more consumers buying those used RVs," says Clint Ethington of Pedata RV Center. "When banks have more than the average amount of repo's on their hands, and they can't move those RVs at auction, they tighten up on lending on both the wholesale flooring and retail lending sides. When those extra RVs sell at auction, those banks are more apt to lend. We have high hopes that this signals the beginning of turnaround in the industry and the economy as a whole."

For More Information:
For more information on Pedata RV Center or current trends in the RV industry contact Clint Ethington, General Manager, at clint (at) pedatarvcenter (dot) com or by phone at: 1-888-545-8314 or 520-807-0900. Or visit Pedata RV Center online at http://www.pedatarv.com.

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Clint Ethington


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