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02-17-2009, 05:58 PM
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#1
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Aluminut
2004 25' Safari
.
, Illinois
Join Date: Feb 2003
Posts: 10,477
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Thor's recent financials....
Thor (Airstream's parent company) financials released a few weeks ago:
RV maker Thor says 2Q sales dropped 62 percent - Yahoo! Finance
Wonder how much was related to Airstream sales? Anyone know?
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02-17-2009, 08:08 PM
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#2
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Rivet Master
1993 34' Limited
Melbourne Florida
, Springfield Ohio
Join Date: Nov 2006
Posts: 759
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I don't know how this relates to Airstream sales - but thanks for posting the story.
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02-17-2009, 10:19 PM
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#3
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4 Rivet Member
2017 16' Sport
Malibu
, California
Join Date: Sep 2008
Posts: 298
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Wow Camping World is having problems , they loaned them 20 million! These are horrific times!
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02-18-2009, 04:27 AM
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#4
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Restorations done right
Commercial Member
1962 26' Overlander
1961 26' Overlander
Vintage Kin Owner
Currently Looking...
Baltimore
, Maryland
Join Date: Aug 2007
Posts: 5,545
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Quote:
Originally Posted by gail
Wow Camping World is having problems , they loaned them 20 million! These are horrific times!
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I think these are the best of times. I think things are ripe with opportunities for people to re invent themselves. For once things are balancing out. If they showed a 20 million dollar net profit, you would not be saying a peep. When real estate was booming three years ago folks were not going "oh my god what will we do?" they were raking it in... A wave has incline and a syncline. All matter travels in waves.
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02-18-2009, 04:47 AM
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#5
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Rivet Master
2006 30' Classic S/O
Currently Looking...
Mohrsville
, Pennsylvania
Join Date: Jun 2006
Posts: 1,313
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Quote:
Originally Posted by 62overlander
I think these are the best of times. I think things are ripe with opportunities for people to re invent themselves. For once things are balancing out. If they showed a 20 million dollar net profit, you would not be saying a peep. When real estate was booming three years ago folks were not going "oh my god what will we do?" they were raking it in... A wave has incline and a syncline. All matter travels in waves.
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Frank,
How very true, espcially for folks our age. But I really would not want to be on the cusp of retiring right now as my 401K has been reduced to a 200.5K . I hope we are around to see the next "incline."
__________________
Carl, Elaine & Finn The Beagle
2006 30' Classic W Slide & Limited Package Katarina
2006 GMC 2500 HD 6.6 Turbo Diesel Crew Cab 8' Bed
TAC PA-3
S/OS#042
AIR #14487
NQ3U (was KB3UOM)
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02-18-2009, 06:51 AM
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#6
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Aluminut
2004 25' Safari
.
, Illinois
Join Date: Feb 2003
Posts: 10,477
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Quote:
Originally Posted by 62overlander
When real estate was booming three years ago folks were not going "oh my god what will we do?" they were raking it in... A wave has incline and a syncline. All matter travels in waves.
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I agree, it travels in waves, but I was one of the folks saying, man, how can we afford this house? Instead we kept our very meager 50s era ranch house. However, with the econ stimulus that offers I think $8k credit toward purchase of a house, and with rates and prices low (just announced lowest housing starts since the 1950s), I may revisit it now that it is actually somewhat affordable...all things being relative here in the Chicago area.
Like my grandparents and to only a slightly lesser extent my parents who were raised with these beliefs (post depression) they were all very frugal with what they did. My grandparents, moreso than my parents. I always thought as a kid how cheap they were being, not fully understanding until I got older how things really work. Of course until 5 years ago, I was a spendthrift....but as the years passed I started as most of us do, to replicate and behave in similar ways to our parents whom some of us at some point would say we will never be like our parents.
At any rate, my prediction FWIW, is that after this, all the spendthrifters, some who used their homes as ATMs and rode the waves that eventually came tumbling down around them will be far more discriminating about any disposable income (if they are smart). I'm not saying folks won't buy things, but now that the party is over and the hangover apparent, I think we are going to have a much more lean and mean consumer base. Discretionary spending I believe will be scrutinized a lot more than it has been in the past, meaning folks like boat, RV builders, etc are going to really have to be competitive, even in some of the low (Fleetwood) to midrange brands (Airstream), let alone the top brands like Prevost, etc.
How this translates to Airstream is too early to tell, they themselves have given themselves several black eyes. I don't think however that we will see the boom we saw at Airstream from 2002-2006 happen for a number of years. Some based on economy and some still reeling from the econ meltdown, and some based on folks just getting sick of shelling out big bucks for what has become simply a chic, retro, iconic item, yet somewhat lackluster product in terms of support and build.
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02-18-2009, 07:25 AM
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#7
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More than one rivet loose
Currently Looking...
Los Alamos
, New Mexico
Join Date: Feb 2006
Posts: 3,756
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Quote:
Originally Posted by Silvertwinkie
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Not sure but when I went to pick up my trailer the factory was shutdown again and the service department will be shutdown most of February and March.
__________________
Michelle TAC MT-0
Sarah, Snowball
Looking for a 1962 Flying Cloud
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02-18-2009, 08:12 AM
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#8
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Tramp Streamer
Commercial Member
1995 28' Excella
Artist
, at Large
Join Date: May 2004
Posts: 2,002
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...Harley Davidson:
52 week high $48.05, today $11.43...
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02-18-2009, 08:15 AM
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#9
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4 Rivet Member
Currently Looking...
holland
, Michigan
Join Date: Oct 2007
Posts: 436
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Lets hope this is time in corner to reflect on bad behavior, such as corrosion and cheap beds and overall poor attention to detail.
My take to all, keep your used units, have the clear coat stripped and repaint. Some day, soon, the only airstreams on the market will be what is already sold. The boys in jackson Center drove her into the ditch, and this business model looks very risky. Despite a lack of competition, and long standing reputation, we are in a new era. Airstream has sufficiently made enough mistakes in the past 10 years to make the errors of GM and Chrysler look insignificant. Thor will do what any conglomerate does best, milk it and run.
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02-18-2009, 09:51 AM
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#10
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3 Rivet Member
Currently Looking...
2005 22' Interstate
Afton
, Virginia
Join Date: Sep 2005
Posts: 226
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Not intending to hijack the thread, but we recently made a trip to Tucson and back. Along the way, we noticed that the new and used car lots were full like we never had seen before. And the same was true of the RV sales lots. The used car lots were in the same condition.
I think we as a country simply have too much stuff and not enough people to buy it.
It is not only Thor or Airstream or GM, it is the whole range of builders and manufacturers.
regards
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02-18-2009, 11:45 AM
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#11
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Rivet Master
2006 30' Classic S/O
Currently Looking...
Mohrsville
, Pennsylvania
Join Date: Jun 2006
Posts: 1,313
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Quote:
Originally Posted by herrgirdner
Not intending to hijack the thread, but we recently made a trip to Tucson and back. Along the way, we noticed that the new and used car lots were full like we never had seen before. And the same was true of the RV sales lots. The used car lots were in the same condition.
I think we as a country simply have too much stuff and not enough people to buy it.
It is not only Thor or Airstream or GM, it is the whole range of builders and manufacturers.
regards
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I don't know it is our area, but in my travels around home, the car and RV lots definitley do not have the inventory they used to have. Prior to the melt down the lots were packed. Now there are lots of vacant slots, especially in the RV lots.
__________________
Carl, Elaine & Finn The Beagle
2006 30' Classic W Slide & Limited Package Katarina
2006 GMC 2500 HD 6.6 Turbo Diesel Crew Cab 8' Bed
TAC PA-3
S/OS#042
AIR #14487
NQ3U (was KB3UOM)
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02-18-2009, 12:11 PM
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#12
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4 Rivet Member
Join Date: Oct 2002
Posts: 265
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RV stocks
Here is a listing of the RV industry
Last Updated 12:50 PM (EST) Feb 16, 2009 Company NameSymbol Last Sale Net Change52-week High52-week LowCoachmen Industries Inc. COA$1.07-3 cents$5.34$0.48Coast Distribution System Inc. CRV$1.00-4 cents$5.90$0.75Decorator Industries Inc. DII$0.79no change$4.65$0.25Drew Industries Inc. DW$8.08+38 cents$29.29$7.25Equity Lifestyle Properties ELS$35.43-98 cents$56.01$22.61Fleetwood Enterprises Inc. FLE$0.10+1 cent$6.85$0.07Flexsteel Industries Inc. FLXS$6.44-6 cents$14.50$6.68Monaco Coach Corp. MNC$0.66-6 cents$12.22$0.39Patrick Industries Inc. PATK$0.66+20 cents$9.58$0.01Skyline Corp. SKY$18.49-88 cents$34.60$15.51Spartan Motors Inc. SPAR$4.52+1 cent$9.98$2.04Thor Industries Inc. THO$11.72-16 cents$36.91$9.90Winnebago Industries Inc. WGO$5.28-10 cents$24.14$4.22 Last updated 12:50 PM (EST) Feb 16, 2009
The first price is current quote the second is 52 week high third is 52 week low sorry for format
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02-18-2009, 12:16 PM
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#13
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4 Rivet Member
Join Date: Oct 2002
Posts: 265
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Another closing
Another RV closing
BREAKING NEWS
Paul Evert's RV Country to Close Nevada Outlet
RV Business
Tuesday, February 17, 2009
Multi-location dealer Paul Evert's RV Country recently announced plans to close down its outlet in Laughlin, Nev., by the end of April, affecting around 45 employees.
“We held out as long as we could,” said Vice President Curt Curtis in an e-mail to RVBusiness. “But it’s a very tough economic time and the Laughlin RV market was no longer as profitable as we needed it to be.”
Paul Evert's RV, which has been in business for 48 years, said sales remain steady at its primary location in Fresno, Calif. After partnering with Camping World last year, Paul Evert's stands as Fresno’s only full-service dealership.
The company’s Bullhead City, Ariz., sales lot will also remain open.
“This doesn’t meant you’ve seen the last of us,” Curtis said. “We still plan to do shows in the Tri-State area. It’s just unfortunate that after nine years in Laughlin, we’ve become one more victim of the slowing economy, high gas prices and deflated housing market.”
Paul Evert's reported it launched an aggressive advertising campaign this month to help sell off some of their nearly 200 new and pre-owned motorhomes and fifth-wheels. Some prices were stated to be as much as 50% off of the retail price.
“While there are many varied reports of the market turning around and banks beginning to lend again, we feel it’s best to consolidate locations, liquidate inventory and put ourselves in a good and solvent position to remain in business through these difficult times,” said owner Paul Evert.
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02-18-2009, 01:04 PM
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#14
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Aluminut
2004 25' Safari
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, Illinois
Join Date: Feb 2003
Posts: 10,477
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Quote:
Originally Posted by thecatsandi
Not sure but when I went to pick up my trailer the factory was shutdown again and the service department will be shutdown most of February and March.
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Interesting. Typically the service dept had got loads to do. If they are mothballed for that much time, doesn't sound very good.
When did you pickup your trailer? Did you get any info as to how long the factory had been closed and how long they projected it to be closed?
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02-18-2009, 01:44 PM
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#15
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Rivet Master
2022 25' International
Savage
, Minnesota
Join Date: Dec 2007
Posts: 753
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Quote:
Originally Posted by thecatsandi
Not sure but when I went to pick up my trailer the factory was shutdown again and the service department will be shutdown most of February and March.
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The temp closing at Jackson Center was covered here:
http://www.airforums.com/forums/f44/...rts-47850.html
__________________
"I've got aluminum fever, and the only prescription, is more AIRSTREAM!!!"
'64 Safari Resoration Blog ("May"):
https://ts8501.blogspot.com/
TAC MN-6
WBCCI/VAC 11736
AIR 25979
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02-18-2009, 01:52 PM
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#16
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Rivet Master
2022 25' International
Savage
, Minnesota
Join Date: Dec 2007
Posts: 753
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Quote:
Originally Posted by safari 28
Some day, soon, the only airstreams on the market will be what is already sold.
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Without commenting on why you feel this way, as it sounds like QC issues have effected you personally, I certainly hope this is not the case. A long term and viable Airstream Company is what we all need. Currently we have a company that provides parts and expertise for long ago sold product. A closed Airstream does us current owners no good. We need them to celebrate 100 years, 125 years,.............
__________________
"I've got aluminum fever, and the only prescription, is more AIRSTREAM!!!"
'64 Safari Resoration Blog ("May"):
https://ts8501.blogspot.com/
TAC MN-6
WBCCI/VAC 11736
AIR 25979
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02-18-2009, 01:53 PM
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#17
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Aluminut
2004 25' Safari
.
, Illinois
Join Date: Feb 2003
Posts: 10,477
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Thanks I had seen that one, but I was really interested in hearing if the main production floor and service department had been mothballed too.
Is the parts department the same as the service dept? I'm interested in how long the factory itself where they build the new trailers has been closed since the past holiday season (where they typically do close for a few weeks).
If in fact the service dept is also closed and it's not separate from the parts dept.....that would be a shock because they typically have had many folks parked out back for the winter special for service center work.
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02-18-2009, 02:36 PM
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#18
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Rivet Master
1967 26' Overlander
Owings Mills
, MD
Join Date: Jun 2008
Posts: 1,125
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To the extent Airstream (Thor) produces outstanding products, it helps Airstream owners. If they are going to produce a shoddy product, I'm not sure it helps much. One, it is possible for lousy workmanship to tarnish a brand name. I think it hurts every Airstream owner if an American icon becomes what in my childhood was "Made in Japan." Two, I think the vintage owner community is more important than the company. Consider vintage automobiles. If you need parts for a '52 Chevy, there are many resources. Why? Because there is a market for vintage Chevy parts. The more people willing to buy vintage Airstream parts, the more companies will move to fill this niche. I'm more worried about the success of VTS than of Thor.
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02-18-2009, 03:48 PM
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#19
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Rivet Master
1989 29' Land Yacht
Mesa
, Arizona
Join Date: Feb 2006
Posts: 1,804
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The comming.
Communist Cuba has kept old American made cars running now for over 50 years.
I am sure WE can do the same with are American made SUV's and using our Airstream as a home.
__________________
Live every day as if it is your last one and one day your going to be right.
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02-19-2009, 03:28 PM
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#20
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Aluminut
2004 25' Safari
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, Illinois
Join Date: Feb 2003
Posts: 10,477
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