Media Reports Paint Negative Picture for RV Industry – RVBusiness – Breaking RV Industry News
Trump’s Trade War, Recession will Batter the RV Industry
A Ball State University economist says President Trump’s trade war with Canada and Mexico will cause economic pain all over North America, and it will especially hurt the Elkhart area’s RV industry, according to a report by WVPE, a public radio station based in Elkhart and South bend, Ind.
Ball State economist Michael Hicks says about a third of the parts used to make cars and RVs in the U.S. are imported, so making them will now cost more because of retaliatory tariffs.
“This is a big cost shock to producers of RVs and other auto parts and so that’s going to immediately affect the price of RVs, which were just beginning to recover,” Hicks says.
Hicks says those higher prices will reduce demand for RVs on both sides of the U.S.-Canadian border, and that will be worsened if a recession takes hold, as is widely expected, since RVs are such a discretionary item for consumers.
Click here to read the full report by WVPE.
Trump tariffs add disruption, volatility to wobbly RV market
Southwestern Ontario recreational vehicle dealerships are bracing for the impact of U.S. President Donald Trump’s trade war on the industry, according to a report by The London Free Press, a newspaper based in southwestern Ontario.
Trump’s tariffs on Canadian aluminum and steel and Ottawa’s reciprocal measures have been a wildcard for area RV dealers, at a time when they are usually busy preparing for the summer travel season.
“It’s another potential economic blow that would drive up prices, hurt Canadian consumers and put more small businesses at risk across the province,” said Natalie Conway, executive director of the Ontario Recreation Vehicle Dealers Association that represents 170 dealerships.
Click here to read the full report by The London Free Press.
Cambridge camper van and RV company Roadtrek lays off staff amid U.S. tariffs
A camper van and RV company in Cambridge, Ont., has issued temporary lay off notices to its entire plant in wake of U.S. tariffs on the auto industry, according to a report by CTV News.
As of Monday, around 80 employees at Roadtrek Inc. are out of work, according to Unifor Local 1106.
CTV News obtained a letter issued to employees on Friday that confirmed the company was making job cuts linked to the trade war.
“Due to changes to North American trade agreements and tariffs and subsequent influences to our business, which are beyond our control, we regret to inform you that Roadtrek Inc. has been forced to reduce production output,” the letter reads.
Click here to read the full report by CTV News.
