The Recreational
Vehicle Industry Association reported wholesale shipments of 22,400
units in December, down 3.4% from the same period in 2006. Shipments
were down 12.2% in 2007 compared with 2006. Towables had the steepest
decline in 2007, down 14%, while motorized vehicles were down only 1.2%.
Class A motorhomes were up 1.5% despite rising gasoline prices. The
decrease in towables was mainly due to the FEMA bubble, which we believe
is mostly off the market.
