February 6th, 2009
Could red ink signal twilight of dinocarus?
We all know how higher gas prices and the lack of money for car loans has pretty well squealched the sale of gas-hawg SUVs. A similar, if quieter meltdown, is hitting the RV industry. Here in Oregon one plant shut in December and its future has become subject of a court fight between former RV maker and a big bank.
One major RV manufacturer reported quarterly sales were off 62%. Further the maker made a second multi-million dollar loan to one of its dealerships.
Could RVs go the way of the stegosaurus? It seems people still want these huge creatures, CO2 emissions be damned. The real problem is not a sudden urge to be green, but the buyers can’t get the loans they need for RVs that generally cost more than $50,000.
A newsman since 1969, Harry Fuller has worked for CBS, ABC, CNBC Europe, CNET and was founding news director at TechTV. See his full profile and disclosure of his industry affiliations.
Subscribe to GreenTech Pastures via Email alerts or RSS.
