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Old 02-17-2009, 06:58 PM   #1
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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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Old 02-17-2009, 09:08 PM   #2
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I don't know how this relates to Airstream sales - but thanks for posting the story.
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Old 02-17-2009, 11:19 PM   #3
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Wow Camping World is having problems , they loaned them 20 million! These are horrific times!
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Old 02-18-2009, 05:27 AM   #4
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Wow Camping World is having problems , they loaned them 20 million! These are horrific times!
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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Old 02-18-2009, 05:47 AM   #5
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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.
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."
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Old 02-18-2009, 07:51 AM   #6
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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.
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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Old 02-18-2009, 08:25 AM   #7
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Originally Posted by Silvertwinkie View Post
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?
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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Old 02-18-2009, 09:12 AM   #8
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Old 02-18-2009, 09:15 AM   #9
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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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Old 02-18-2009, 10:51 AM   #10
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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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Old 02-18-2009, 12:45 PM   #11
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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
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.
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Old 02-18-2009, 01:11 PM   #12
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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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Old 02-18-2009, 01:16 PM   #13
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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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Old 02-18-2009, 02:04 PM   #14
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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.
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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