ELKHART, Ind.: Carrie Gray points to a stack of unwelcome mail on a conference table at the offices of Renegade RV, one of the leading U.S. manufacturers of high-end recreational vehicles. She’s buried in bad news from most of her about 350 suppliers.
Shipments of RVs to dealers have fallen 22per cent percent in the first five months of this year, compared to the same period last year, after slipping 4per cent in 2018, according to the Recreational Vehicle Industry Association. “The RV industry is a great bellwether of the economy,” said Hicks, because the vehicles are an expensive and discretionary purchase, easily delayed by consumers who start to worry about their financial stability.
Sitting in an office near the front of the Adnik factory, Bond and Ronald Dick, the company’s brand manager, spent an hour griping about the speed and scope of their materials costs increases. And yet, like many in this region that strongly supported Trump’s election, they often added the caveat that they support the larger goal of the tariffs to protect U.S. factories from unfair foreign competition.
The cost of metals surged dramatically after sweeping tariffs on steel and aluminum were imposed last year. Those prices have since moderated, but manufacturers say many of the price increases on the metal parts they buy haven’t gone away. “That doesn’t sound like a lot, until you start to talk about adding US$1,000 to the price of a US$20,000 vehicle,” he said.
Source: News Formal (newsformal.com)
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